If you are an owner or affiliate of a manufacturing or production company, you may be familiar with the ever-changing demands of the industry. Fluctuations in financial needs occur frequently. Manufacturing Loans provide a loan to fill the void while fulfilling the logistics requirement for a project; inventory, employees, etc.
Generally, manufacturing companies need funds to purchase materials and hire employees to keep up with production and demand, with ambiguity around when payment will be received from a signed contract. Waiting for invoice payments can be disruptive to the payment obligations you have. Manufacturing business owners recognize paying employees, suppliers, and other investments is first priority.
To fill that projected void, North Avenue Capital (NAC) offers Manufacturing Loans guaranteed by the USDA. NAC structures Manufacturing Loans to provide cash to operate, without ceasing production in order to meet demand. Our borrowers are accustomed to the confidence, expertise, and established relationship NAC offers. We understand what it takes to start, build, and grow a business because we are a small business ourselves. We provide Manufacturing Loans for all types of growing businesses, grown up construction, and start ups.
Versatech, LLC, a manufacturing, engineering and consulting service company out of Central Illinois found North Avenue Capital by a fortuitous introduction. Having narrowly navigated the economic downturn that worsened around the time of their launch, Versatech needed a long-term financial partner to help stabilize the company and lay a foundation for fulfilling the vision.
Today, Versatech employs over 100 employees and growing. "Without the USDA loan and NAC's help, we probably wouldn't be here as a company, so all of the people out in the shop wouldn't have jobs. For us, the impact has been life-changing." Joe Forbes, Partner and Co-CEO described.
North Avenue Capital, LLC (NAC) is a specialized commercial lender committed to excellence in every aspect of the debt-financing process with a focus on partnership, communication, and execution.
As one of the only non-traditional lenders in the country exclusively focused on USDA Rural Development programs, NAC uses its expertise, capital, and relationships to build businesses, grow local economies, and create jobs in rural America.
NAC can lend up to $25MM per project, substantially more than traditionall financing sources focused on rural communites.
NAC originates interest-only construction loans, with preset conversation to permanent debt, saving borrowers from multiple closings and eliminating uncertainty, changes in terms, and equity calls.
NAC works with a diverse spectrum of companies, including start-ups, projection based businesses, and niche industries that are often unable to obtain conventional debt.
NAC specializes in consolidating multiple types of debt into a single loan structure, that is fully amortized, non-callable, with no balloon payments over time.
Are you ready to connect with a Loan Specialist? We are eager to connect. Our goal is to get back to you in less than 10 minutes.