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SAN FRANCISCO, Aug. 07, 2018 (GLOBE NEWSWIRE) -- Business Capital has secured a growth capital facility for Wholesome Nut Company, a worldwide supplier of choice California nuts, primarily almonds and walnuts. The Company receives, processes, and sells approximately 7.5 million pounds of nuts annually to over 50 domestic and foreign markets. These buyers and markets represent hundreds of end-users of nuts that either reprocess or repackage, and then resell to buyers that typically use the nuts as an ingredient. The financing provided was critical support for the company’s rapid expansion and significant demand from customers. This credit facility allows the Company to accelerate their purchasing and expansion programs, ultimately leading to a substantial increase in top-line growth.
“Given the growth financing needs of our business—and the relatively short tenure of our company—it was difficult securing credit from local banks and financial institutions, this despite strong assets, cash-flow, and significant net equity on our balance sheet. These local banks kept telling us they very badly wanted to provide us financing—backed by significant collateral, of course—only to turn around and ask us for one more document or piece of information,” said Anthony Mello, CEO of Wholesome Nut Company. “BizCap cut through all of this banking fog for us and brought our company several financial institutions and banks that could provide our company’s financing needs in a timely, efficient, and professional manner. We are truly grateful for BizCap’s help and expertise. It has been an absolute pleasure working with BizCap and its entire team of professionals.”
Business Capital is a leading commercial finance & advisory 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/9d38a38a-a41b-4ebd-a8c1-32caa0fb099c