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Local Foods Distributor

 

SITUATION 

Formed in 2007, this niche food distributor specializes in locally-sourced, non-perishable goods. Initially self-financed, the company grew exponentially in 2013 and 2014 from local and regional customers. In late 2015, the company was awarded a large contract with a national grocery chain, but the cash flow needed to fund the growth exceeded their current capacity. Although the company was initially approved for an SBA loan, they needed immediate working capital support to meet the demands of their newest customer.

 

SOLUTION 

With extensive experience in the food distribution industry, Magnolia Financial understood its potential and issued a proposal within 24 hours of the initial meeting. Within 4 business days, Magnolia funded a $200,000 Accounts Receivable Line of Credit. With the funds in place to fulfill the new orders, the company can now focus on creating more opportunities for growth and stop worrying about cash flow.