Daily News: October 17, 2012

Sterling Provides $6 Million to Bektrom Foods

Sterling National Bank has approved a $5 million revolving credit line, with a $1 million sub-limit for a term loan/leasing line, to Bektrom Foods.

The line will be used for working capital purposes. Bektrom selected Sterling because the company wanted to increase its line amount as well as received more favorable terms.

Bektrom Foods is a manufacturer of branded and private label products for cake, brownie, bread, pancake and muffin mixes as well as spices, box dinner kits, specialty potatoes, stuffing and pasta salad. The company sells its products under their own proprietary labels, Loretta and Gourmet Select, as well as retailers’ private labels.

In addition Bektrom sells product through licensing agreements with Mrs. Fields for cookies and cupcakes, Power Rangers for Mac & Cheese products, and Larry the Cable Guy for fry batters, bread mixes and spices.