As with most business industries, the wine and vineyard industry has taken a hit during the COVID-19 pandemic.
According to a study published by WineAmerica, the average winery lost $51,201 during the time period of March 15 – April 15. While wineries and vineyards are still continuing to produce products, they must make up for the decreased wholesale and tourism revenue, as well as the increased cost of supplies to keep their employees safe during the pandemic.
Without the proper financing, a business struggles to overcome these unexpected obstacles, let alone grow, despite them. It is during these unprecedented times, businesses need a flexible financing option that is both able to help in the immediate, but also sustainable for future.
North Avenue Capital (NAC) is the only specialized commercial lender that exclusively lends USDA B&I Loans nationwide. With the help of the newly offered CARES Act program, combined with a USDA B&I Loan, NAC becomes a great option for businesses that have been affected by the COVID-19 pandemic.
Wine-makers require a unique set of skills to nurture a healthy business that will grow and produce in the future. From the wine’s blend and layered notes to aging and aeration time, each component must be perfectly balanced to create a vintage that’s sure to get better with time.
Cultivating these complexities requires an exceptional amount of planning, patience, and tenacity, potentially forcing an owner to compromise quality while prioritizing the need to properly finance their business. This might require a winery or vineyard owner to consider a USDA B&I Loan.
If you’re looking for a USDA B&I Loan for your winery or vineyard, North Avenue Capital has perfected the loan process to fit your needs. Through the USDA Rural Development Program, NAC can come alongside winery and vineyard owners to establish, grow, and expand within the industry.
NAC works with a diverse spectrum of companies, including start-ups, projection-based businesses, niche industries, and growing businesses. Refinances, acquisitions, new and ground-up construction loans are also within the USDA B&I Loan regulations. NAC borrowers are accustomed to the confidence, expertise, and established relationship that NAC offers.
Our USDA loan specialists at NAC will determine if a USDA B&I Loan is right for you and your unique financing needs. We appreciate the opportunity to assist you in all your winery and vineyard financing needs.
At NAC, we provide capital to empower American business growth. We are uniquely positioned to dive deep into your business, develop an understanding of your key objectives, and assist in preparing a USDA financing package that executes on your vision for growth and expansion.
NAC possesses a genuine interest in partnering with you to enhance your business, create jobs in local communities and identifying opportunities to improve environmental conditions for the next generation of entrepreneurs.
We have experience starting, building, and operating successful businesses across a multitude of industries, and are committed to forming lasting partnerships, not just closing loans.
Visit our Winery & Vineyard Loan Page to learn more and connect with a loan specialist with any USDA business loan questions you may have.
Serving rural America on a nationwide scale, we have strategically placed our office locations spanning across the country to better serve our clientele. Find a location near you in Arkansas, Florida, Georgia, Nevada, Tennessee, and Texas, and contact us today.