Chucho Produce Leverages ProducePay Working Capital to Invest in Technology for Production Expansion
“We spend so much capital maintaining our normal operations that we never have the resources we need to expand our business.”
– Luis Mario Morales, General Manager of Chucho Produce
Company
Chucho Produce
Location
Sonora, Mexico
Profile
Agricultural production company
Challenge
Lack of capital to invest in technology for business expansion
Solution
Pre-Season financing
Chucho Produce LLC grows and sells high-quality fresh produce in Sonora, Mexico, using advanced technology and packaging processes. They have been in business for over 10 years and specialize in heirloom tomatoes, organic Roma tomatoes, and cucumbers.
The Challenge: Secure capital for investing in technology and expansion
“The application process was easy, and ProducePay has always been very responsive to our needs.”
Chucho Produce is an agricultural company that cultivates and distributes tomatoes and cucumbers.
Their success in delivering high-quality produce to their customers has enabled them to expand their business into new regions and products.
To continue their expansion, Chucho Produce needed working capital to invest in the infrastructure and technology that would allow them to increase their production capacity and diversify their offerings.
They tried to secure financing from traditional lenders but found that banks weren’t interested in learning about their business and didn’t offer solutions that made sense for their unique needs as growers.
“For many years ProducePay has been a key partner, helping to drive our growth with their working capital solutions.”
The Solution: A Customized Financing Solution Fueling 3X Growth Over the Next Five Years
With ProducePay, Chucho Produce discovered a strategic partner who understood their business and could offer the tailor-made financing solutions they needed to grow.
After consulting with the ProducePay team, Chucho decided that Pre-Season financing was the best choice for their business.
This financing solution provided Chucho Produce with capital at customized terms to expand on their specific goals.
With ProducePay, they found a partner who understood not just their need for working capital but their harvest cycles, labor needs and export regulations.
And because the repayment terms were built around when their products shipped to customers, they always had the cash they needed to invest in themselves.
Today, Chucho Produce can confidently grow their operations because they know that as their business evolves, they’re working with a partner who can change with them.
“For many years ProducePay has been a key partner, helping to drive our growth with their working capital solutions. In 5 years, we expect to double or triple our sales, so we need to continue to grow our financing needs with ProducePay.”
– Luis Mario Morales, General Manager of Chucho Produce
