Farm & Agriculture
Advanced CFO was hired by a calf ranch / dairy operation in Kuna, ID at the request of its primary secured lender as financial advisor to assist in a financial restructuring of the company’s debt. At the time Advanced CFO was hired, the operation had $55M outstanding in a working capital line of credit and $12.5M outstanding in term debt.
Advanced CFO prepared a restructuring plan that called for a downsizing of its fat cattle business and redirecting its resources to become a custom feed operation – significantly reducing market risk. Advanced CFO led the negotiations in a successful forbearance agreement, which the operation is performing against. The line of credit has been paid down to $8.5M, with remaining inventory / AR securing the loan totaling $11M. Advanced CFO also helped ensure reporting requirements were prepared timely and accurately, and helped manage the relationship between lender and borrower.