Worldwide Aquaculture Company

Business Capital Secures $5MM Credit Facility for Worldwide Aquaculture Producer & Wholesaler

The Client

A leader in aquaculture-based operations and the wholesale of fresh and frozen fish and seafood.  The company farms and sells high quality live and chilled seafood to high volume retail and food-service accounts. It is known for being the world’s largest producer of barramundi – a unique, white fish which is hearty, healthy, tasty and growing in popularity.

The Situation

Due to a disease which affected farming, production and manufacturing experienced a one-time setback. Although the Company has continued to experience growth and increase in revenue, recovery has not been swift enough to fully absorb the negative impact on cash flow. The terms provided by their current bank loan were too restrictive to simultaneously support operating losses and take advantage of growth opportunities.

The Solution

Business Capital was able to structure and secure an optimal financing solution based on inventory and accounts receivable and negotiated away all covenant deficiencies and penalties with the company’s previous bank. Identifying and working with a lender who understood the client’s specific needs and capabilities as well as how they fit into the growing system of global aqua farming, Business Capital was able to successfully provide the working capital the client needed to achieve future growth plans.
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