The Pulse: Case Study
Thought Leaders of the Middle Market Capital Ecosystem
National Business Capital Secures $10MM Subordinated Facility for Fragrance Manufacturer’s National Expansion
A $10MM subordinated facility allowed a fragrance manufacturer to ramp up production and move quickly on big box retail expansion.
The Challenge:
Flora, a fast-growing fragrance manufacturer, had a major opportunity to expand into big box retailers like Walmart, Target, and Costco. Demand was there, purchase orders were ready, all the company needed was capital to ramp up production and meet the volume.
Its senior lender was already working on increasing Flora’s credit line, but timing was tight. The company needed to fulfill purchase orders in the immediate term, and waiting on the traditional timeline could have slowed or neglected a meaningful growth opportunity. The senior lender referred them to National Business Capital to explore a solution that would support the expansion without disrupting the existing relationship.
The Solution:
In just 13 days, National Business Capital, led by Flora’s dedicated Business Advisor John Salvador, worked with both the business and its bank to establish a $10MM subordinated credit facility.
The company accessed $5MM immediately, with another $5MM in reserve for future growth needs. The structure gave the manufacturer the working capital it needed without delay, while complementing the broader senior lending relationship already in place. This allowed the company to move on inventory production and prepare for new retail demand without losing momentum.
The Impact:
With the facility in place, the company was able to move forward instead of missing a game-changing retail opportunity. The capital positioned the business to fulfill big-box orders with confidence and speed, accelerate national expansion across new sales channels, and support long-term growth on its terms.
The solution also helped preserve the existing banking relationship, giving the company added flexibility while reducing pressure on the senior facility. What began as a timing-sensitive capital need became a repeatable capital strategy.
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At National Business Capital, we work with business leaders who are growing, expanding, acquiring and need capital that moves with them. Whether you’re planning an acquisition, taking on larger projects, upgrading infrastructure, or building out new revenue streams, we provide the clarity and capital to help you take the next step with confidence.
We’ve approved over $7.5 billion in financing, supporting companies through fast-paced growth, ownership transitions, and complex deal structures. As a direct lender that also works closely with capital providers across industries, we offer the best of both worlds: the speed and control of lending from our own balance sheet, plus the flexibility to tailor solutions when the situation calls for it. That means more options, more agility and one team guiding the entire process.
We specialize in deals from $250,000 to $15 million, working across industries where timing, execution, and advisory insight are critical. From initial conversation to funding, we bring real experience, transparency, and momentum.
We’re here to simplify complex decisions, move quickly when the opportunity is right, and support your business beyond the funding itself. Because capital should be a tool to help you grow, not something that slows you down.