Food Manufacturing - November 2016

Dinah Carter

Location: New York City, New York
Industry: Food Manufacturing
Revenue: $300K per month
Line of Credit: $500,000 Ledger Line of Credit
Collateral: All Asset Borrowing Base

The American Dream
This company was founded by a courageous and dynamic young woman who overcame Lymphoma at an early age and developed a recipe for all-natural cookie dough in her quest to eat healthy and lead a long life! She hired her little sister as official Taste Tester, and thousands of pounds of all-natural cookie dough later, her top secret recipes were complete. She began getting orders from family, friends, and friends of friends- and she realized that the world needed ‘better-for-you’ treats. She started marketing aggressively, found a good source for producing her cookie dough AND ….. She was off and running! Four hard-working years later, her cookie dough is on the shelves of major grocery chains throughout the U.S. Her growth has been phenomenal. But with it came a need for cash to support higher inventory levels and to accommodate net terms with large grocers. Like many entrepreneurs, she does not want to be limited by lack of cash. She wants to achieve as much as she possibly can while retaining ownership of her business - a philosophy we wholeheartedly support.

The Sterling Way - Financing Opportunity
Her CFO approached Sterling seeking a revolving line of credit collateralized by her receivables. Sterling evaluated the credit strength of her customer base and collection history, her business model and projections. Based on due diligence results, Sterling offered her a line of credit $200,000 higher than her existing AR balance - to ensure she has adequate cash to support continued growth. Should she outgrow her current line, Sterling is able to increase her line amount in approximately a 72-hour period. Elaborate, time-consuming loan modifications are not necessary.

Unlike a Bank, all financing with Sterling Commercial Credit is asset based with full dominion of funds flowing daily into the lockbox to minimize the cost of borrowing. The asset based lines of credit allow for weekly borrowing and a 52-week relationship with your Sterling Relationship Manager. Sterling prides itself on a relationship-based partnership that allows maximum access to working capital for our growing entrepreneurs.

Dinah Carter
Director of Sales