Marco Provides A $2,000,000 Factoring Facility for Midwest-Based Frozen Food Business
June 30, 2022
Source: Marco
Next In Natural, a Brooklyn, NY-based boutique strategic business development & marketing organization specializing in natural and organic consumer packaged foods, has completed a $2,000,000 factoring facility with Marco. The funding will be for its sister company, a Midwest-based consumer products company established in producing, distributing, and marketing frozen meal-kits.
Barry Kastner, Marco's Executive Vice President and Senior Managing Director, said, "Marco's facility is part of an overall restructuring of the business, which is transitioning to a move to a new manufacturing/co-packing facility. We worked with the client's existing inventory lender to structure a flexible facility that provides additional working capital and works for all parties. Next in Natural professionals provide the leadership and management that will ensure our new client's success."
"Our approach from the start was to work with their existing Inventory lender and to structure a facility commensurate with all parties being secured and building a process that would be acceptable to our client. With a team of professionals internally and outside of the Marco infrastructure, we capitalized on the experience brought to this transaction by all parties and consummated a somewhat complex transaction," commented Fred Leder, Marco's Chief Credit Officer.
Jeff Lichtenstein, Next In Natural CEO, commented “Marco's team is world-class: When one of our sister companies needed financing most, they could not have been any more helpful and available from our initial call, through on-boarding, and now with our day-to-day business activities. That customer-first culture is pervasive in their underwriting, operations and legal team, which speaks volumes for the service-minded approach throughout the organization. Work with team Marco, and you're working with the best!”
Marco is revolutionizing global trade by providing reliable, working capital for North American and Latin American SMEs. Marco addresses the $350 billion financing gap in Latin America by developing an innovative and proprietary risk model that processes data in real-time to assess risk and mitigate capital loss dynamically. Its factoring approach to trade finance reduces risk and frees up cash, enabling underserved SME exporters to continue operations and invest in growth. Founded in 2020 by Peter D. Spradling and Jacob Shoihet, Marco is headquartered in Miami, FL, with offices in New York and across Latin America. Marco is backed by Antler and Struck Capital, and its credit facility is underwritten by Arcadia Funds, LLC. For more information on how Marco can help power your exports with working capital, please visit marcofi.com.
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