Business Capital Delivers $4.75 Million Senior Secured Credit Facility with $750,000 Seasonal Over-Advance for Worldwide Importer and Distributor of Specialty Premium Teas and Herbs.
“The team at Business Capital was fantastic to work with. A true partner, they cared about our short and long term needs and objectives, working quickly and beside us throughout the full spectrum of the process. They took the time to understand our complex global business model and deliver a financing structure tailored to ensure the best possible outcome for Numi.” – Ahmed Rahim, CEO, Numi Organic Tea
Our client is a worldwide importer and distributor of specialty premium teas and herbs. It is the largest fair trade certified tea brand and one of the fastest growing organic tea companies in the US. Numi Organic Tea is committed to being environmentally responsible and imports and produces a wide variety of super-premium organic teas and herbal “teasans” which are globally sustainable in recyclable packaging. Its products can be found in major national retail outlets and specialty stores and are sold to and used by well-known international food service providers.
Numi wanted to position itself to take advantage of the rapidly growing marketplace. They required an infusion of working capital to increase inventory levels in anticipation of higher sales and new product introductions. Due to the seasonality of sales, the company also needed a seasonal incremental advance to fund the spike in product sales and cushion the drop in seasonal liquidity. Because of their complex needs and business model, it was a challenge to find the right lending partner to help them fund their goals.
“It was an absolute honor to work with Numi, a company that cares so much about their suppliers, quality of product, customer experience and our planet. Numi’s specialized financing needs were significant and we were happy to deliver a solution beyond what most formula based lenders can fund against.” – Chuck Doyle, Managing Director, Business Capital