The Pulse: Case Study
Thought Leaders of the Middle Market Capital Ecosystem
National Business Capital Secures $5MM for Agricultural Distributor During Market Disruption
When commodity price volatility reduced borrowing capacity ahead of critical seasonal payments, National Business Capital structured $5 million in flexible capital to protect vendor relationships and maintain operational continuity.
The Challenge:
First Harvest, a 55-year agricultural distributor rooted in the nut industry, operates within a highly seasonal supply chain dependent on consistent vendor payments and long-standing grower relationships.
As commodity nut prices shifted significantly, the company’s senior lender re-evaluated collateral values, reducing available borrowing capacity. The change came at a critical time, just as the business approached a seasonal period requiring substantial vendor payments.
Despite stable operations and a strong history of performance, the company faced a liquidity gap. Traditional lenders, focused on fluctuating collateral values and short-term financial pressure, were unable to provide a timely solution. Without access to additional capital, First Harvest risked straining key supplier relationships built over decades.
The Solution:
National Business Capital worked with a referral partner to evaluate the company beyond its temporary balance sheet pressures and structure a financing solution aligned with its operating cycle.
National provided a $5 million term loan designed to complement the existing senior lending facility without disruption. The structure emphasized flexibility and timing, enabling the company to access liquidity precisely when needed while preserving its broader capital stack.
By taking into consideration the company’s history, operational strength, and long-term potential during the underwriting process, National delivered a solution that traditional lenders could not—or would not.
The Impact:
The funds allowed First Harvest to meet critical seasonal vendor payments on time, preserving trust across its grower and supplier network.
With liquidity restored, the company maintained continuity through a volatile pricing environment, avoided disruption during its winter cycle, and protected relationships fundamental to its long-term success.
The transaction highlights how flexible capital solutions can bridge the gap when collateral fluctuations limit traditional funding options, ensuring established businesses can continue operating without interruption.
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At National Business Capital, we work with business leaders who are growing, expanding, acquiring and need capital that moves with them. Whether you’re planning an acquisition, taking on larger projects, upgrading infrastructure, or building out new revenue streams, we provide the clarity and capital to help you take the next step with confidence.
We’ve approved over $7.5 billion in financing, supporting companies through fast-paced growth, ownership transitions, and complex deal structures. As a direct lender that also works closely with capital providers across industries, we offer the best of both worlds: the speed and control of lending from our own balance sheet, plus the flexibility to tailor solutions when the situation calls for it. That means more options, more agility and one team guiding the entire process.
We specialize in deals from $250,000 to $15 million, working across industries where timing, execution, and advisory insight are critical. From initial conversation to funding, we bring real experience, transparency, and momentum.
We’re here to simplify complex decisions, move quickly when the opportunity is right, and support your business beyond the funding itself. Because capital should be a tool to help you grow, not something that slows you down.