SCF Provides a $44 Million Lease Financing Commitment for Major Food Producer
Stonebriar Commercial Finance announced it has provided a $44 million lease commitment for the purchase of new food production, bottling and packaging equipment. The lease line will provide critical capital to this $1. 2 billion revenue company , which is a market leading food manufacturer. The proceeds will allow the Lessee to substantially expand its capacity for existing and new product lines.
Steve White, EVP of Stonebriar stated “we worked closely with the CEO and CFO of the Lessee to structure a lease that allows for a six month acceleration of its capital expansion plan. This acceleration is anticipated to grow revenue and earnings at a much faster pace. “
About Stonebriar Commercial Finance: Stonebriar is a privately held commercial finance company established in 2015 and based in Plano, TX. With financial backing from Security Benefit Corporation, Stonebriar is building a world class, multi-billion dollar platform of commercial loans and leases. Stonebriar specializes in transactions for businesses in a wide variety of industries (Business Aviation, Rail Leasing, Realty Capital, marine, transportation, manufacturing, energy, etc.) throughout the entire credit spectrum located in the United States, Canada and select other foreign jurisdictions.
About Security Benefit Corporation: Security Benefit has more than $28 billion in total assets under management and partners with more than 30,000 licensed and appointed financial planners and representatives through a network of 700 broker/dealers and independent marketing organizations. In addition, Security Benefit Life Insurance Company (“SBL” and its New York affiliate, First Security Benefit Life Insurance and Annuity Company of New York (”FSBL”), provide fixed and variable annuities to approximately 230,000 policyholders. We are known nationwide and serve the financial needs of customers in all 50 states. To learn more about Security Benefit go to www.securitybenefit.com.
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