WorldBusiness Capital, Inc. (WBC) announced the closing of $7.5 million in long-term financing for Mohegan Renewable Energy (MS) LLC (MRES), a manufacturer of utility-grade wood pellets and a business diversification vehicle of The Mohegan Tribe of Connecticut. WBC’s funding is being used for equipment acquisition, facilities improvement, and operation of an existing commercial scale manufacturing plant for the production of wood pellets exported to the United Kingdom. WBC’s loan is guaranteed by the U.S. Department of Agriculture (USDA) under the Business and Industry (B&I) Guaranteed Loan Program.

When a husband and wife team took over an embryonic Connecticut food manufacturing business, they had a vision for growing it into a much larger operation. The couple had a solid base: a fully integrated operation with a production facility in India and established distribution to the U.S., Canada, and Australia. But to substantially grow the enterprise, they needed financing – something not easy to come by, since traditional banks typically offer international lending only for larger, more established companies. Enter Hartford-based WorldBusiness Capital.

WorldBusiness Capital, Inc. (WBC), a top lender to middle market businesses, projects and financial institutions in Mexico, attracted significant interest in its loan programs during the 11th Annual Mexico Manufacturing Supply Chain Summit held in March in El Paso, Texas. WBC was an active participant in the conference, which is sponsored by the international business publication, MexicoNow. WBC focuses on lending to businesses and projects in Mexico with significant growth potential, including the automotive, aerospace, electronics, and medical sectors.

WorldBusiness Capital, Inc. (WBC) announced the closing of $7.5 million in long-term financing for Seitz LLC, a leading manufacturer of custom plastic injection molded components founded in 1949 and serving a wide range of industries. WBC’s financing includes a $5 million 15-year loan to re-finance existing high-cost short-term debt, and a $2.5 million 15-year loan for facility improvements and purchases of new production equipment. Both WBC loans are guaranteed by the U.S. Department of Agriculture (USDA) under its Business and Industry (B&I) Guaranteed Loan Program.

WorldBusiness Capital, Inc. (WBC) announced the closing of a new commercial term loan of $10 million for Mexico’s Operadora de Servicios Mega, S.A. de C.V. SOFOM, E.R. (Operadora Mega). WBC’s loan is guaranteed by Overseas Private Investment Corporation (OPIC), the U.S. Government agency that helps American businesses invest in emerging markets. Proceeds of WBC’s loan will enable Operadora Mega to expand its lending capacity for loans and leases to small and medium-sized businesses throughout Mexico. This is WBC’s second loan to Operadora Mega.

WorldBusiness Capital, Inc. (WBC) announced the closing of an $8.5 million, 10-year commercial term loan to Michigan-based Wolverine Metal Stamping, Inc. (Wolverine). WBC is the only U.S. financial institution that has a framework agreement for loan guarantees with Bancomext, the Mexican Government’s export credit and development agency that finances Mexican companies competing in international markets. Proceeds of WBC’s loan will be used by Wolverine to expand the production capacity of its operations in Mexico by financing the acquisition of new equipment, inventory purchases, and related working capital needs.

WorldBusiness Capital, Inc. (WBC) announced the closing of $8 million in permanent long-term financing for a newly-constructed 53,000 sq. foot Holiday Inn Express hotel in Grand Island, New York, located in close proximity to Niagara Falls. The project’s sponsors include Grand Island Hotels, LLC and the experienced hotel management firm, Rudra Management, Inc. WBC’s financing is guaranteed by the U.S. Department of Agriculture (USDA) under its Business and Industry (B&I) Guaranteed Loan Program.

WorldBusiness Capital, Inc. (WBC) announced the closing of a $15 million, 10-year commercial loan to Mexico-based Alternativa 19 del Sur, S.A. (Alternativa). WBC’s loan is guaranteed by Overseas Private Investment Corporation (OPIC), the U.S. Government agency that helps American businesses invest in emerging markets. Proceeds of the loan will be used by Alternativa to significantly expand its funding of the micro-credit market, with a focus on providing home improvement loans and credit products for women-owned businesses in the underserved Southeast region of Mexico.