Business Capital Secures Financing for Frozen Treats Manufacturer
Business Capital secured bridge financing for a frozen treats manufacturer to pay off its incumbent lender and stabilize its capital base prior to entering peak selling season. Additionally, it needed a more flexible and permanent financing solution to support ongoing working capital needs and projected growth in 2015.
Because of the urgency of this needs and the short-term nature of the initial financing, Business Capital was able to understand the company’s unique challenges and financial requirements, and structure and secure the desired bridge financing. Business Capital is currently underwriting the company’s credit to secure a permanent, flexible credit facility with a borrowing base following a similar pattern of seasonality. This will provide strategic cash-flow and added liquidity.
The company is a maker of various ice cream bars and other frozen snacks, and currently has over 10,000 points of distribution in the U.S. for its hand-crafted ice creams and fresh fruit bars.