Whether you're launching a new natural products business or expanding your existing business, the right loan can go a long way toward stabilizing your finances, especially once you're past the friends and family stage of fundraising.
In this video, Gary Groff, VP of Commercial Banking at New Resource Bank, discusses the best loans for natural foods entrepreneurs—including term loans, lines of credit, government guaranteed loans, and asset-based loans.
"Asset-based loans are a strong niche of ours," says Groff. "[They] provide some liquidity in your business. Natural food businesses are often buying large amounts of inventory, and it's tying up their cash flow. It's going to take them awhile to turn that into a finished good and sell it... We might be able to take some of those receivables and that inventory, and allow you a line of credit to continue your growth and help you continue to take on new sales and opportunities."