Business Capital delivered financing to JUCY Group, a New Zealand-based independent car and campervan rental company currently operating a fleet of over 4,000 vehicles in three countries, including in North America.
The new credit facility will fund JUCY’s strategic expansion plan, beginning with the purchase of additional vehicles.
JUCY’s campervans are known for being affordable, functional and fun. They have the driving characteristics of a car, provide a multipurpose interior and have an easily recognizable color scheme in green and purple colors. In addition to renting campervans and cars, JUCY owns and operates two cruise ships and three hotels.
“As a successful foreign company, we entered the U.S. market rather naively believing our New Zealand/Australian track record would carry weight,” said Chris Alpe, president, founder and principal of JUCY. “Reality was very different. Primary funding institutions place little value on offshore successes and are averse to risk. This challenge threatened our growth. A fortuitous introduction to Bizcap proved a godsend. They liked our business model and secured a finance partner that understood our company and was able to meet both our short and long term funding requirements.”
“We have worked with many companies in the hospitality and tourism industry over the years, so we have a deep understanding and really enjoy working in this space. We were delighted to assist JUCY’s executive team with their international rapid expansion. Their branded vehicles are increasingly spotted driving around our area and with this growth capital, we expect to see even more!” said Chuck Doyle, managing director of Business Capital
Business Capital specializes in securing customized non-dilutive credit based solutions for middle market companies who require a unique, timely and tailored financing structure to address their particular needs.