Frozen Foods Manufacturer
Revolving Line of Credit, Term Loan
TERM LOAN CREATES ADDITIONAL LIQUIDITY
This manufacturer has been producing premium quality value added food products since 1998. Research and Development is key to this company’s success. The company has dedicated staff and onsite kitchen facilities that allow it to focus on the development of both core and innovative products regarded as cutting edge in both taste and eating experience. Due to the loss of a large seasonal client, the company experienced short term losses as it sought to replace the lost business. New, less seasonal sales have been developed allowing the company to return to profitability.
Lighthouse provided an aggressive revolving line of credit secured by accounts receivable and inventory. In addition, Lighthouse added a term loan secured by machinery and equipment to increase liquidity. As a result, the prior bank was paid out completely, and the company had the liquidity required to support the new sales growth.