Asset-Based Line of Credit
A manufacturer of specialty food and drink mixes successfully worked through a management challenge, but found their funding capacity compromised. While their relationship with their Super Regional bank partner remained strong and the bank continued to hold the company's real estate loan, it was no longer interested in renewing the Line of Credit that provided needed working capital.
Magnolia recognized the needs of this growing family run business, but also had the ability to understand the complexities of working in concert with the company's existing bank. To fill the funding gap, Magnolia structured a $3 million Line of Credit that enabled the manufacturer to continue their decades long pattern of growth and their commitment to providing specialty food products to retailers and specialty stores.
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Kerry Coker, KAMADO JOE
"The Magnolia guys have a real ‘can do’ attitude. Marc Smith and his team are super responsive and upbeat. They can fund within a matter of days. They are always looking for positive opportunities for their clients. It's a breath of fresh air to work with someone like that."
Frank Workman, Dealers Supply & Lumber Company
""Magnolia was really available when we needed them, and the leadership at Magnolia was empathetic to the cold, harsh nature of traditional banking. It gave us a tremendous amount of comfort during a difficult time. Marc Smith and his team really understood where we were, where we were going and gave us the help we needed to get there.""
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