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Ares CF Provides $45MM Senior Secured Revolving Line of Credit to Southern States Cooperative

March 22, 2021, 08:00 AM
Filed Under: Agriculture

Ares Commercial Finance (“ACF”) provided a $45 million senior secured revolving line of credit to Southern States Cooperative, Inc. (“SSC”). Headquartered in Richmond, VA, SSC is a retail agricultural cooperative serving the agronomy, energy and farm supply needs of its members and customers across eight states in the Southeastern United States.  

Proceeds of the financing were used to refinance their existing credit facility and for ongoing working capital support.

Ares Commercial Finance is the asset-based lending team of Ares Management Corporation. ACF is focused on providing credit facilities up to $300 million to middle market and lower-middle market, private and public companies; and addresses a wide scope of industries including manufacturing, distribution, wholesale, retail and service companies. These facilities include revolving lines of credit and term loans, asset-based and cash flow stretch loans, and asset-backed facilities to specialty finance companies. Leveraging the breadth and experience of the Ares platform, ACF works with borrowers to deliver creative, flexible and customized financing solutions.  These financing solutions may be structured as working capital financing, bridge financing, turnaround financing, acquisition financing, debtor-in-possession financing, and special accommodation financing.

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