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Stonebriar Commercial Finance Closes $30MM Equipment Lease

February 03, 2020, 07:17 AM

Stonebriar Commercial Finance (SCF) has closed an additional $30 million equipment lease facility with its existing customer, an industry-leading food processing company, to support the growth of a new innovative product line.

SCF will provide interim financing during the construction term of this new production line, which is forecast to be fully completed by June.  When fully funded, SCF’s total outstanding for this key customer will exceed $70 million.

The lease facility will include a broad mix of essential-use food processing and packaging equipment that will produce a diverse set of 23 products.

“We are happy to continue our five-year relationship with this highly successful company. The new production line will be producing a market-changing set of products that will be hitting the retail market soon,” said Steve White, Stonebriar Executive Vice President.

Harrison Smith, Stonebriar Investment Manager, added, “We are highly confident in our customer’s ability to grow this product line by leveraging its strong brand and past success disrupting traditional food categories. This investment marks the largest expansion in the brand’s history and SCF is proud to provide creative financing solutions for their critical equipment.”

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