Super G Provides $2.5 Million Seasonal Working Capital Loan
Leading producer of perennials, annuals and tropical plants and one of the largest greenhouse operations in the United States.
The Financing Situation:
The Company needed additional working capital for its low season (fall – winter), when sales volumes are at their lowest and preparations for the spring high-volume period begin. The Company has an asset based lending facility in place for working capital, but AR & inventory levels often do not provide sufficient availability to cover production costs during the low season.
Super G was able to quickly get comfortable with the Company’s seasonality, inventory mix, and production risks which were mitigated by an experienced management team, strong historical financial performance, and collateral coverage. Super G worked in partnership with the Company’s senior lender, GemCap, to provide a second lien term loan with a payment schedule tailored to the Company’s seasonal cash flow – interest-only payments during the low season and amortizing payments during the busy season.