SLR Business Credit (SLRBC) closed a $1.2 million senior secured asset-based credit facility to Gourmet Mushrooms. The facility is structured exclusively around the company’s accounts receivable. Proceeds from the transaction will be utilized to optimize cash flow, manage seasonal working capital and expand retail and foodservice distribution for its commercial fresh division, Mycopia Mushrooms.
“We are delighted to establish this facility for Gourmet Mushrooms, Inc., a true pioneer that has shaped the American specialty agriculture landscape for nearly fifty years,” David Braff, managing director at SLRBC, said. “Our tailored A/R facility accelerates cash flow from their high-volume corporate and grocery receivables, ensuring that the business can fulfill market demand without stretching liquidity.”
