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Mountain Ridge Capital Provides $6MM Senior Debt Financing for Commercial Bakery

May 02, 2023, 06:00 AM
Filed Under: Specialty Industries

Mountain Ridge Capital closed a senior secured credit facility for a southeast commercial bakery operation. The new credit facility, consisting of a $3 million revolving line of credit and a $3 million term loan, refinanced a national commercial bank.  The new financing will also provide additional liquidity to support the future growth expectations of the business. As a non-bank senior debt lender, Mountain Ridge was able to provide significantly higher availability and more overall flexibility than the previous bank arrangement.

Craig Winslow, President and Chief Credit Officer of Mountain Ridge, noted "We built Mountain Ridge Capital on the basis of providing flexible and creative ABL structures – these were both needed to accommodate a business in transition.  The bank was running out of patience with a business that was changing and the private owners are relieved to be away from the pressure of their lender."

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