TEQlease Provides Lease Financing to Pleasant Valley Farms
Published August 15, 2012
Categories: Industry News
TEQlease Capital said it has provided Pleasant Valley Farms, a 58-year-old egg farm in Ripon, CA, with lease financing of over $1 million for cage-free hen housing systems.
“In order to meet the demand for organic eggs from one of the largest retail warehouse outlets in the United States, we needed to add cage-free hen housing systems to improve the efficiency of our operations. With the new hen housing systems we will be increasing our in house organic egg production to 125,000 hens. In addition, the cage-free housing systems we are installing are Proposition 2 compliant, and as a result we will meet the regulatory requirement well in advance of the implementation deadline,” said Jerry Jenkins, president of Pleasant Valley Farms. “TEQlease Capital was also able to structure the lease in a manner that the other lease financing providers could not.”
“We are very pleased that we were able to put together a flexible equipment financing package that Pleasant Valley Farm needed for its state of the art cage-free aviary housing systems,” said Mike Lockwood, president of TEQlease Capital. “Pleasant Valley Farms is a substantial family-owned enterprise, supplying large food retailers throughout the Western United States. Our firm is committed to working with food producers such as Pleasant Valley Farms to provide customized equipment lease financing solutions for any of their equipment acquisitions.”