HAHIRA, GA--(Marketwired - June 21, 2016) - North Avenue Capital, LLC (NAC), a specialized commercial lender, announced today the closing of a $1.8 million loan for Weeks Honey Farm, Inc., an Omega, GA -based raw honey producer, distributor, and beekeeping operation. According to NAC President, Eric Johnson, who led the project, North Avenue Capital is honored to partner with a remarkable family as the company's business team looks to establish their place on the national honey stage. "Weeks Honey is growing fast, creating new jobs in their community, and doing so with a legacy of integrity and excellence with which NAC is proud to be associated," said Johnson. NAC originated, underwrote, and funded the loan through the United States Department of Agriculture (USDA) Rural Development Business & Industry loan program.
Weeks Honey is one of only a few businesses in the U.S. which produces raw, unfiltered honey and serves as packers of the manufactured goods. The firm will use the loan proceeds primarily to modernize equipment and effectively manage honey inventories to meet the growing demand for their product across the nation. The capital infusion is also facilitating the formal transition of ownership to the next generation. Ray Crosby, now a third generation owner said, "My grandparents started this incredible company more than 50 years ago. They have continued the legacy of quality and integrity. I'm honored to carry on the torch to new markets, with new products, and the loan from NAC will allow us to do just that," said Crosby.
NAC's loans focus on lower middle market growth opportunities that will develop local economies outside of major metropolitan areas. Weeks Honey meets this requirement and remains a significant employer for a small town like Omega.
About North Avenue Capital, LLC
North Avenue Capital is a specialized commercial lender exclusively focused on originating, underwriting, and funding USDA Rural Development loans nationwide, using its expertise, capital, and relationships to build businesses, grow economies, and create jobs in rural America. Visit the website at www.northavenuecap.com. Visit the Facebook page at https://www.facebook.com/northavenuecap/.
About Weeks Honey Farm, Inc.
Weeks Honey Farm, Inc. is one of the few remaining packers of raw, unfiltered, U.S. Made honey in the country. Weeks Honey produces, packages, and distributes a variety of honey flavors and honey-related products, including their award-winning line of Honey Spreads. Weeks Honey products can be found in many of the nation's leading national grocery store chains, including Whole Foods, Sprouts, Kroger, Albertson's, among others. Visit the website at www.weekshoneyfarm.com.