Jyoti Foods Refinances Debt with $1,800,000 & $200k Line of Credit

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Alex Solis, Owner
Aquinas Painting Contractors, New Rochelle NY
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Debra Spear and Brenda Scully, Owners
Silver Springs Equestrian Center, Geneva, FL
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Ashley Marand Iwanicki, Founder/Owner
Collective Studios, Londonderry NH
“After coming to America with nothing in my pockets and big dreams, I have achieved my dream of owning the real estate for my existing restaurant. From the bottom of my heart, thank you.”
Zach Erdem, Owner
75 Main, Southampton NY
“Frank Coppola believed in this deal from day one. Always supporting, always pushing to get to the next step. You were an integral part of coordinating all things Capuano Care and making our dream come true.”
Tiara Chapman, Mary & Mike Griffin
Capuano Care, East Longmeadow MA
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James Giglio
MVP Interactive, Philadelphia PA
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Michael Thevar, Founder and CEO
Omni Health Services, Colmar PA
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Cora & Frederick Reed, Owners
Read to Learn Academy & Reeds Refuge Center, Wilmington DE
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Maria Whyte Gruning and Daria Snow-Hayward, Owners
Right at Home, Londonderry, NH
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Denise D. Nordheimer, Esq,Owner
The Law Offices of Denise D. Nordheimer, Delaware
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Willie Ramirez
Bluepoint Bakery, Denver CO
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David Zickafoose
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Heather Gleason & Dave Garry, Owners
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”Their knowledge and preferred SBA lender status really made the process efficient and seamless. As a result of 44's financing, Record Products of America will retain 17 full time positions and will be hiring new personnel with future growth.”
Joseph Helfrich, Owner
Record Products of America, Hamden CT
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Tyler Sigel, Owner
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Brian Finley, Owner
Spring House Window and Door, Spring House PA
“Scott Stevens' approach made it clear that 44 Business Capital was not only interested in “making a deal” but rather entering into a long-term relationship with AspireCARE and AspireFIT.”
Drs. Richard Rayner and David White
AspireCARE/AspireFIT
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Dennis Kubach, Owner
TC Millwork, Inc.
“44 Business Capital assured our ability to function. Getting us the funds we needed to re-capitalize at favorable rates and terms saved the day.”
Dr. Steven B. Siepser, MD
Siepser Laser Eyecare

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Jyoti Foods Refinances Debt with $1,800,000 SBA Loan

“When a national bank got nervous about the finances at Jyoti Foods, it was 44 Business Capital that stepped in. Jyoti foods had losses in 2013-2015, due to a $1MM investment in new machinery and new products. While the big bank failed to see the difference between losses and investment, 44 Business Capital understood the difference and saw the potential. Phil Martin met with us, facilitated the preparation of the necessary documents, and orchestrated a new mortgage on our building as well as a Line of Credit for additional equipment and working capital. Since we closed our loan, Jyoti Foods has added ten more employees.Phil is very good to deal with, and is even better at getting things done. We look forward to raising more funds for new equipment and working capital via 44 Business Capital, with Phil Martin's participation.”

Vijai Gupta
JYOTI Natural Foods | Sharon Hill, PA

CHALLENGE

Jyoti Foods is a manufacturer of Indian/Asian foods. Over the past couple years,due to several industry and economic factors beyond the company's control, the business experienced tighter cash flow. During this time the company had a $1,700,000 mortgage coming due and the bank was unable to renew due to the tight cash flow. 44 Business Capital was able to refinance this loan as well as provide a $200,000 Line of Credit as the company demonstrated favorable trends, a solid balance sheet and strong leadership. During a recent visit by Gov. Tom Wolf toured the 50,000 sq. ft. facility in Sharon Hill, PA. Owner Vijai Gupta, an inventor of 24 U.S. patented technologies, explained each machine from the various steam-heated kettles, and retorts for sterilizing pouches and cans. Jyoti Natural Foods has been built technically and financially by the owners with no taxpayer dollars.Jyoti Natural Foods is on track to have their best performance in years, adding ten additional employees.

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