Hey DF,

Most of you know we are Seacoast Business Funding, a division of Seacoast Bank. We offer flexible working capital facilities in the forms of factoring and asset based lines of credit. We partner with companies in a variety of industries except construction and healthcare services. We are unique in the market as we are bank owned, but can still work with challenged credits or companies in transition.

I was just reading an article published this morning that could cause some working capital issues for produce growers and distributors. A major end customer/retail chain is going to N90 terms with all suppliers. This is interesting on a bunch of levels.
-The retailer is very large and buys produce from many sources.
-Forcing suppliers past N30 terms kills PACA trust requirements.
-N90 is going to put a working capital strain on growers and distributors.
-A host of finance companies cannot go past N60 for any customers even if they are a large, good credit.

We like the produce industry and understand PACA. Our ideal client:

-Grower or contract growers based in the US selling to mainly US customers.
-Revenues from $2.5Mil to well over $300Mil.
-Facility need from $500k to well over $30Mil.

Best,

Kevin