Rosenthal Steps in to Finance Seafood Suppliers
A popular supplier of fresh fish to some of the world’s most prominent retailers and restaurants was seeking a new financing partner after its existing bank unexpectedly tightened the reins on its financing. Operating in this more rigid lending environment, with tighter restrictive covenants in place, the company had no choice but to find an alternative lender.
Recognizing the value of the company’s brand and positive past performance, Rosenthal was able to step in to provide a $4 million asset based financing facility that included a $3.5 million line of credit and a $500,000 term loan backed by the client’s brand. That increased flexibility, as well as the additional working capital, enabled the client to refocus its efforts on running the business and planning for long-term profitability.