North Mill Capital provided a $4 million asset-based revolving line of credit to Tropical Aquaculture Products, which is an importer and distributor of seafood headquartered in Rutland, VT.
Tropical Aquaculture Products used the funds to pay off its current bank credit line and to provide additional working capital.
“North Mill Capital was a great partner in structuring a tailor-made financial solution for our company,” João Crepaldi, finance director at Tropical Aquaculture Products, said. “They provided highly skilled people for each stage of the process and were very reasonable in considering the specificities of our business and needs.”
North Mill Capital provides asset-based loans and factoring facilities from $50,000 to $30 million.