Mountain Ridge Capital closed a senior secured credit facility for a commercial bakery operation in the Southeast. The new credit facility, consisting of a $3 million revolving line of credit and a $3 million term loan, refinanced a national commercial bank. The new financing will also provide additional liquidity to support the future growth expectations of the business.
“We built Mountain Ridge Capital on the basis of providing flexible and creative ABL structures; these were both needed to accommodate a business in transition,” Craig Winslow, president and chief credit officer of Mountain Ridge Capital, said. “The bank was running out of patience with a business that was changing, and the private owners are relieved to be away from the pressure of their lender.”
