Riverfront Produce Company, LLC
Company: Riverfront Produce Company, LLC dba NJ Gomeza Farms (“Company”)
Financing Amount: $3,050,000
Financing Date: February 9, 2022
About the Company
Riverfront Produce Company (“RFP” or the “Company”) was founded in 2011 and is currently based out of Payette, Idaho. Paired together with NJ Gomeza Farm, the Company grows, cultivates and markets a variety of commodities including wheat, forage alfalfa, dry edible beans and onions. RFP services and sells their product to a diverse customer base across the retail, foodservice and wholesale produce sectors of the produce industry.
Situation
Riverfront Produce Company and NJ Gomeza Farms’s business model centers around the growing, cultivating and harvesting of their key crops for sale to their customers. As a result, their finance and sales are tied to the cyclicality of that rotation. The Company needed to secure financing for the equipment that would allow them to fulfill some of the existing contracts with their customers. They needed a facility that would not only service the current scenario but also have a scalability feature for future sales.
Solution
Alantes secured a $2,050,000 machinery and equipment term loan that allowed RFP to obtain additional equipment in order to expand on their current harvest. Paired with a $1,000,000 accounts receivable line of credit, this facility provides Company with the infrastructure to restructure their debt at a lower rate while also having a facility that can expand in conjunction with its growth trajectory. “We are very happy to have connected with Alantes for the financing process.” said RFP’s owners Nicholas and Berenise Gomeza. “Their expertise helped us secure the financing which relieves a lot of the stress of operating the business while our crops are growing for the upcoming harvest. The lowered payments paired with the access to additional working capital puts us in an optimal position for growth.”
About Alantes
Alantes Corporate Finance (“Alantes”) specializes in capital raises and strategic advisory for small to middle market businesses across the nation. Our team prides itself on our ability to provide unique solutions for all of your business needs. Whether you’re looking to acquire a new company or additional working capital for operations, Alantes is your trusted source for business growth and expansion. Our multi-faceted approach allows us to craft creative solutions that adds value at the most critical junctures so you can focus your resources on core business activities.
For more information on this transaction, contact Alantes Corporate Finance at info@alantes.com
Alantes Corporate Finance, LLC
234 5th Avenue, 2nd Fl
New York, NY 10001
www.alantes.com
