GREENWOOD — BizCapital, the small business lending division of Advantage Capital Partners, has provided an SBA 7(a) loan in the amount of $1.6 million to S&N Airoflo Inc., a manufacturer of an energy-efficient aerator used for the treatment of municipal and industrial wastewater.
The funding will be used to refinance existing debt and support the company’s continued growth, including the retention of 18 employees in a low-income community.
S&N Airoflo, based in Greenwood, manufactures, distributes, installs, repairs and maintains wastewater treatment equipment for its customer base, which is composed mainly of government municipalities. The company currently does business in 40 states.
“When our traditional lender refused to extend our line of credit, BizCapital provided the funding we needed to maintain operations,” said Buster Norris, president of S&N Airoflo. “Their willingness and capacity to offer financing when others had turned us away means we can expand our reach and retain our employees, even during these challenging economic times.”
BizCapital’s investment in S&N Airoflo was made in connection with the federal New Markets Tax Credit program and the Mississippi New Markets Development program.
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info