Business Capital Structures & Secures $3MM Property & Equipment Loan for Provider of Custom Hay Harvesting Services
“Securing Capital in tight time frames is just one of Bizcaps’ competitive advantages. It certainly takes a smart, diligent, trustworthy team like ours to consistently deliver great results quickly, as we have been doing for our clients since 2002!” -Chuck Doyle, Managing Director, Business Capital
The Company is one of the largest regional providers of high quality custom hay harvesting in California, with a fleet of tractors, balers and related equipment. It has an extensive, long-term customer base, many of which are located overseas where hay is used in the high-end cattle market and requires a detailed approach to harvesting and delivery to very particular foreign specifications.
The Company had the opportunity to provide a $3.MM convertible note (B-round) investment in a Mining company, which will be using the proceeds to fund operations in anticipation of a C-round share offering. The B-round note offering is far below the real asset value of the Mining company and our Client had to act quickly, within a two week window, to complete the transaction. Conventional lenders required more time to complete diligence, document and fund the loan.
Business Capital was contacted by The Company’s incumbent lender to assist their client and deliver funding within the two week window. BizCap was quickly able to structure and secure a $3MM Senior Secured Term Loan in this very tight time frame, which provided The Company with the necessary capital to take advantage of the investment opportunity.