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Gibraltar Business Capital Provides $20MM Credit Facility to Second-Generation Honey Company

Date: Mar 12, 2024 @ 07:50 AM

GloryBee Natural Sweeteners, a family-owned business based in Oregon, is dedicated to ethically sourcing, processing, and packing high-quality honey and other sweeteners primarily used as ingredients. The company, having invested in a state-of-the-art manufacturing facility and national expansion, needed a lender that could move quickly to refinance existing bank debt and provide additional liquidity to maximize growth opportunities.

GBC steadfastly responded with a $20MM senior credit facility secured by accounts receivable and inventory. The creative team at Gibraltar also built in an overadvance to provide more initial liquidity to support some immediate growth opportunities.

While GloryBee’s management was initially cautious about transitioning their lending relationship away from a traditional bank, the GBC team’s understanding of their business and consultative approach to lending alleviated those concerns. In line with GBC’s track record, the team swiftly executed the transaction, meeting critical deadlines in the process.  

“We are proud to have given the company’s leadership the confidence that moving from a traditional bank loan would help them better achieve their growth goals,” said Jim Marasco, Head of Originations at Gibraltar Business Capital. “As a non-bank, asset-based lender, we can work faster, meet deadlines, and facilitate across multiple parties, all while being flexible and responsive to unique circumstances.”

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