Wholesale Food Distributor and Manufacturer - February 2017

Dinah Carter

Location: Chicago, Ilinois
Industry: Wholsale Food Distributor and Manufacturer
Revenue: $4 Million per year
Line of Credit: $3,000,000 Line of Credit
Collateral: All Asset Borrowing Base

The American Dream
One of our recent new clients is a wholesale distributor and manufacturer of food products. They are a USDA inspected facility selling to diners, restaurants, institutions and smaller wholesale companies.

The Sterling Way - Financing Opportunity
This company was founded in the 1950’s - But our American Dream visionary entered the scene just 10 years ago, diligently working his way up through the ranks to the position of General Manager. He now oversees all daily activities including but not limited to buying of goods, selling to customers, USDA oversight and the management of receivables and payables.

But that’s not the best part. The current owner decided to retire and our visionary went to work finding a way to purchase the company. Enter Sterling Commercial Credit. Sterling established a $3,000,000.00 Asset Based Line of Credit to provide working capital that accommodates the new owner’s growth goals...and will be assisting with $500,000.00 in funds needed to meet the acquisition price on opening day.

Sterling’s CEO worked closely with the field audit team and acquisition firm to ensure communication was thorough and efficient. The new owner enjoyed the opportunity to meet and break bread with his new lender’s founding partner, our CEO Edwin Small. A solid foundation for this new relationship is in place and all parties involved are celebrating success!

Dinah Carter
Director of Sales