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SAN FRANCISCO, Sept. 19, 2018 (GLOBE NEWSWIRE) -- Business Capital has delivered financing to JUCY Group Limited, a leading foreign independent car and campervan rental company founded in New Zealand and currently operating a fleet of over 4,000 vehicles in three countries, including North America. JUCY’s campervans are known for being affordable, functional and fun. They have the driving characteristics of a car, provide a multipurpose interior, and are easily recognizable on the road with their unique green and purple colors. Standard comforts and options include foldout beds, working kitchens completely outfitted with pots, pans, cutlery and other supplies, toilet/shower facilities, LCD-TV/DVD players picnic seats, roof racks, BBQ grills, tents and child seats. In addition to renting campervans and cars, JUCY owns and operates two cruise ships and three hotels.
“As a successful foreign company, we entered the US market rather naively believing our New Zealand/Australian track record would carry weight,” said Chris Alpe, President, Founder and Principal of the JUCY Group. “Reality was very different. Primary funding institutions place little value on offshore successes and are averse to risk. This challenge threatened our growth. A fortuitous introduction to Bizcap proved a godsend. They liked our business model and secured a finance partner that understood our company and was able to meet both our short and long term funding requirements."
The new credit facility will fund JUCY’s strategic expansion plan, beginning with the purchase of additional vehicles.
“We have worked with many companies in the hospitality and tourism industry over the years, so we have a deep understanding and really enjoy working in this space. We were delighted to assist JUCY’s executive team with their international rapid expansion. Their branded vehicles are increasingly spotted driving around our area and with this growth capital, we expect to see even more!” said Chuck Doyle Managing Director of Business Capital.
Business Capital is a leading commercial finance firm specializing in securing customized non-dilutive credit based solutions for rapidly growing as well as challenged middle market companies nationwide who require a unique, timely and tailored financing structure to address their particular needs, especially in situations where conventional capital sources are not an option.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/b98050af-c22c-4d63-915e-f8b7843e79f1