Crystal Financial provided a $60 million senior term loan for Southern States Cooperative, a cooperative founded in 1923 for farmers and rural homeowners that provides products, services and growing solutions for farming communities in 21 states.

Proceeds from the financing were used to support a transaction between Southern States and GROWMARK.

“Crystal Financial was a reliable and creative financing partner throughout the process, helping to facilitate a successful transaction by providing the necessary capital to support our go-forward liquidity needs,” Jeff Stroburg, president and CEO of Southern States, said. “We appreciate their hard work and dedication as well as their continued belief in the Southern States team.”

“Crystal is pleased to reconfirm our support of Southern States as it embarks on this transformative transaction. We believe the partnership between Southern States and GROWMARK, as well as the strategic initiatives spearheaded by Jeff and his team, will strongly position the company for long-term success. We look forward to continuing the relationship with Southern States and its management team,” Rebecca Tarby, senior managing director of Crystal Financial, said.

Crystal Financial, a portfolio company of Solar Capital, is a provider of direct private credit.