Recent Transactions

View our most recent transactions to see how we've helped others like you.

Specialty Food Distributor

 

SITUATION 

This family-owned business sells a variety of seafood products to grocery stores and small specialty retailers.  After being featured in a prominent magazine, the company was awarded a large contract from Wal Mart. They approached their local bank for a line of credit, but with marginal historical profitability and poor personal credit, they were turned down. The company was sitting on an order that would triple their business but did not have the cash to execute the order.

 

SOLUTION 

Magnolia was able to look past the limited profits and challenged personal credit.  Using only the company's Accounts Receivable as collateral, Magnolia Financial extended the business a $250,000 working capital line of credit. The funding Magnolia provides not only allows the company to fill the new order—expanding their business threefold—but also lets them pay their suppliers on time. As Magnolia funds upon receipt by Wal Mart, the business is now taking advantage of early pay discounts.  The company is on pace for a record year—an improvement not possible without Magnolia Financial.