Marquette Business Credit Closes Two Transactions
Marquette Business Credit, Inc, provided a new credit facility to Adam Nutrition, Inc. under a $7.5 million A/R and inventory revolving line of credit and equipment term loan. Adam Nutrition, located in Mira Loma, CA is a full-service contract manufacturer of nutritional supplements such as vitamins and herbal supplements in tablet and capsules, as well as premixed protein and other nutritional powders. The company has a global clientele consisting of some of the best-known nutritional supplement companies like Herbalife, FOREVER LIVING, Weider, Amway and BEACHBODY.
Tim Salach, CFO, stated, “I have been impressed with Marquette’s ability to see right to the heart of business considerations. They understand in equal measures the challenges our business faces and the potential it holds. We’re excited to have them as a partner.”
Marquette Business Credit also announced that it provided Active Ride Shop with a $3 million credit facility in order to provide working capital for growth purposes. Active is a retail chain that specializes in action sports clothing, footwear and equipment. The company operates 21 stores located in the southern California market that sells popular name brands such as Obey, RVCA, KR3W, Matix, Nike and Vans, as well as their in-house Active brand of apparel targeted toward young adults. Active is a pioneer in the action sports based retail market and has been an outlet for several emerging brands that have become the most popular brand names in the market.
Esmail Mawjee, president, stated, “Marquette is an optimal long-term financing partner for Active providing us with the flexibility and responsiveness required during our next phase of growth.”