Business Capital (BizCap) structured and secured a $32 million term loan for a California rancher who sells and conveys water to farming operations and water districts.
The client had an incumbent loan that was coming to maturity and required a specialized structure to pursue additional lucrative water contracts, even before they were executed. Business Capital was brought in by the company’s financial adviser to assist with the complexity and speed needed for this transaction. BizCap was able to clearly underwrite the fluctuation in supply and demand, the effect on pricing and secure an agriculture loan to support the client’s strategic business goals.
“One thing is for sure in California: if we are not experiencing a drought, we will be soon. Our client is to be commended by municipalities, the agriculture industry and the people of this state for his forward thinking and planning. We were pleased to be able to assist with this financing,” said Chuck Doyle, managing director, Business Capital.