Stonebriar Closes $30MM Equipment Lease with Food Processor

Stonebriar Commercial Finance closed an additional $30 million equipment lease facility with its existing customer, a food processing company, to support the growth of a new product line.

SCF will provide interim financing during the construction term of this new production line, which is forecast to be fully completed by June 2020. When fully funded, SCF’s total outstanding for this key customer will exceed $70 million.

The lease facility will include a broad mix of essential-use food processing and packaging equipment that will produce a diverse set of 23 products.

Steve White, Stonebriar executive vice president, stated, “We are happy to continue our five-year relationship with this highly successful company. The new production line will be producing a market-changing set of products that will be hitting the retail market soon.”

Harrison Smith, Stonebriar investment manager, added, “We are highly confident in our customer’s ability to grow this product line by leveraging its strong brand and past success disrupting traditional food categories. This investment marks the largest expansion in the brand’s history and SCF is proud to provide creative financing solutions for their critical equipment.”

Like this story? Begin each business day with news you need to know! Register now for FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
Susie Angelucci
Advertising: 484.459.3016

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.