Super G Capital provided a $2.5 million seasonal loan to a producer of perennials, annuals and tropical plants and one of the largest greenhouse operations in the U.S.
The company needed additional working capital for its slow season (fall and winter), when sales volumes are at their lowest and preparations for the spring high-volume period begin. The company has an ABL facility in place for working capital, but A/R and inventory levels often do not provide sufficient availability to cover production costs during the low season.
Super G worked in partnership with the company’s senior lender, GemCap, to provide a second lien term loan with a payment schedule tailored to the company’s seasonal cash flow with interest-only payments during the low season and amortizing payments during the busy season.
