Franklin Capital partners with turnaround firm Virtas Partners to provide a snack foods company with financing that enables them to come out of this unprecedented time stronger than ever.
Franklin Capital has been working hard to partner with turnaround firms, banks, and other financial professionals, to help small and medium-sized businesses navigate this unfamiliar territory and become increasingly stronger. We recently successfully closed a deal for financing after partnering with a turnaround firm.
Challenge
A 20-year-old snack foods company that sells to grocery chains had been financially healthy, but when the pandemic hit, the company’s management had to shut down production. When they were ready to turn the lights back on, they struggled with their working capital. Virtas Partners, a turnaround firm, was brought in to help get the company get back on its feet. The company had large orders with creditworthy customers that it could not complete due to a lack of working capital from the shutdown. Virtas partnered with Franklin Capital to provide the necessary financing.
Solution
Franklin Capital’s CEO and Chairman quickly met with the company to approve the deal. A bank line was put in place, and the bank agreed to subordinate the inventory that Franklin was purchasing, enabling the company to fulfill orders and immediately start growing the business.
Finding the right solution was key to everyone’s success. The snack company is now thriving in these challenging times and more productive than before.
“Franklin Capital has proven to be an outstanding partner,” said Virtas Partners cofounder and Managing Partner Tim Czmiel. “Together, we are helping companies survive this incredibly difficult market and operating environment and emerge stronger than ever.”
About Franklin Capital
Franklin Capital has been helping small to medium-sized businesses meet their cash flow needs for over 25 years by providing accounts receivable, purchase order, cross-border, and machinery and equipment financing all with quick responses – because with Franklin you can speak directly to the decision makers! From start-ups to fast-growing companies, or companies in a turn-around mode, we provide the financing companies need when they need it.
For additional information, give us a call today at (847) 579-4780.