Article provided by: Westrock Capital Corp
Westrock Capital are Canada’s most trusted farm lenders, helping farmers obtain loans through a wide variety of lending options designed to specifically meet each individual farmers where they live. If you need financing for your agricultural venture, Westrock Capital is able to assist you to get funded, through our powerful relationships with lenders across Canada. Westrock is an expert at raising capital to help your business get funded. Some of the types of loans that are available to Westrock’s clients include:
- Bank Loans are the most familiar form of loan and usually have the lowest interest rates. The most common loans are term loans and revolving lines of credit. Lines of credit typically have a one-year maturity while term loans last for 1-7 years. Many banks have a preference for loans secured by real estate or machinery and equipment. For most smaller mid-market companies, banks will require personal guarantees of the owners and senior, blanket liens on all assets of the company. Banks prefer floating interest rates, but fixed interest rates are also available. Fees are smaller than what non-bank lenders charge. Westrock Capital farm lenders will determine if a bank loan is your most advantageous option.
- Asset-Based Loans generally place primary reliance on the collateral. These loans may often utilize a higher advance rate than a traditional bank loan which means you can often borrow more money using the same assets. Because asset-based lenders focus on the collateral, they may be less concerned about the level of your current profitability or your amount of leverage. Some banks provide asset-based loans, but generally non-bank lenders provide more aggressive terms to smaller middle market companies. Asset-based loans may consist of revolving lines of credit or term loans secured by machinery and equipment. The farm lenders at Westrock Capital will review your needs to determine if an Asset-Based Loan is your best option.
- Specialty Finance Loans are loans that are tailored to specific needs or collateral and may be offered by banks, asset-based lenders, or specialized lenders. These loans may include factoring, purchase order financing, trade finance, bankruptcy loans, or even more specialized loans such as the financing of taxi cab medallions. In general, these loans provide financing that would, otherwise, be unavailable. The professional farm lenders from Westrock Capital can work with you to make a specialty finance loan available if it will meet your needs in the best way possible.
- Mezzanine or Subordinated Debt Loans are loans that rely on the cash flow of the company to repay the loan. These loans are usually unsecured or secured by a junior lien position behind the primary lender. These loans are an excellent way to finance a company when there is plenty of cash flow, but not enough collateral. These loans are usually available in amounts of $1.5 million or more for companies with more than $10 million in revenues. If a Mezzanine loan is right for you, the farm lenders from Westrock Capital will help you obtain one.
Every client is different, and Westrock Capital has the experience to work with you in order to help you get funded in the most comprehensive manner possible. Call the farm lenders from Westrock at 877.995.1829 and get the financing you need today.