Manufacturer of flavoured cooking oils for the retail market
Annual sales < $1,000,000 Facility amount $300,000
This company manufactures unique consumer oil products in Canada and the U.S., for sale to large grocery chains across North America. Financing of the company’s development to the production stage was provided by the capital markets (hedge fund).
With orders and commitments from some of the largest grocery chains in North America, the company’s working capital could not support ongoing production as well as their customers’ typical 30-75 day payment cycles. With years of development costs on its books and being an “unproven marketer manufacturer”, traditional bank financing was unavailable.
The company sought the guidance of EDC Small Business Solutions and secured receivables insurance to protect their foray into the export market. Camsa’s Accounts Receivable Financing provided a cost effective solution by increasing cash flow while sales were growing and facilitating increased inventory turnover.
The company immediately benefited from the increased working capital and cash flow during the first year of sales.
The Accounts Receivable Financing that Camsa set up resulted in a steadily increasing sales and market share, profitability and a possible sale of the company to a larger market participant.
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This company had designed a unique product for commercial application. The U.S. was their key target market. They were just entering into the commercialization stage after being involved in research and development for a number of years.
Since our inception, Camsa has been actively involved in giving back to our community - it’s something we feel is important and it is an integral part of our core values. Within the Halifax Region, we are proud to have provided support to numerous organizations.
As evidence of our commitment, in 2015 Camsa initiated our very own unique fund raiser to support local charitable initiatives. This fundraiser – Captains and Cooks will continue as an annual event.