Biofuel Diesel Plant in Texas needs asset based lender
by Chris Robison
We are looking for investors for a biodiesel fuel plant in Texas. It will be operational with ready made customers. Please respond if interested. Executive summary upon request.
Looking for an asset based lender that will loan to the company as a first mortgage on all assets at the facility currently valued at $55 million. An asset base lender is needed since there is not yet any historical cash flow to underwrite against.
Or a 20% loan to value - for $10 million. The money will be used as follows:
$7 million to add equipment to the plant to begin production of biodiesel
$3 million will be used for working capital, loan fees, closing costs and interest carry until plant is operational - which will be 1 August 2013.
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