About New Era’s American Apple

American Apple is a family-owned producer of apples and asparagus in New Era, Michigan. Situated just miles from the beautiful shores of Lake Michigan, American Apple grows 13 varieties of apples and several hundred acres of asparagus.

New Era’s American Apple Has Unique Financing Needs Due to Their Seasonal Cash Flow

American Apple built their reputation on the freshness of their crops, and the company uses a variety of sophisticated cooling and packaging equipment to keep their produce fresh. Some of their equipment includes heavy machinery, coolers, refrigerated rooms, packaging machines, and other assets found in their state-of-the-art packaging facilities.

With a business model based on annual production, American Apple’s cash flows fluctuate depending on the season. In addition, apples require significant capital investment before they produce any revenue. When looking to grow their business, American Apple needed a financing solution that supported this unusual model of cash flow and income.

Team Financial Group Helps New Era’s American Apple Get the Financing They Need to Keep Their Business Moving Forward

Team Financial Group has worked with American Apple for years, providing equipment financing to help grow the company’s business and crops. The relationship started simple, with Team Financial Group helping the company finance apple boxes. As American Apple grew, the partnership blossomed as well. Today, Team Financial Group supplies critical financing that American Apple needs to continue bringing their crops to market.

Because of the seasonal nature of the agriculture business, American Apple required a customized financing solution that worked with their unique cash flow model. For a financing solution that met American Apple’s unique needs, Team Financial Group recommended a $1 buyout lease. This equipment financing option typically involves making a monthly payment and then purchasing the equipment at the end of the  term for just $1. To support American Apple and better accommodate the company’s fluctuating cash flow, Team Financial Group customized the standard financing agreement and created terms that allowed American Apple to pay annually instead of monthly.

Team Financial Group has provided American Apple with financing for a variety of assets, including:

The equipment Team Financial Group helped finance allowed American Apple to expand their business while still harvesting and packaging crops promptly to preserve freshness. Not only did the customized financing solution help American Apple acquire the equipment they needed to expand, but it also allowed them to take advantage of certain tax benefits by realizing the depreciation expense on the equipment.

American Apple continues to work with Team Financial Group whenever they need financing for new ventures and equipment.

“[Team Financial Group] has fast, friendly service and are always looking out for the customer’s best interest,” says Caleb Coulter, owner of American Apple. “American Apple is very pleased with the ease and convenience of working with Team Financial Group and their dedication to understanding our operational and business needs.”

Partner With Team Financial Group for A Better Commercial Financing Experience

At Team Financial Group, we provide standard or customized financing solutions through a convenient and responsive approach that accommodates your unique business needs. We specialize in commercial equipment loans and leases, and we have extensive industry knowledge that allows us to determine the financing solution that’s best for your company. Visit our finance page for more information about our offerings.

Want to know how we can help you move forward with your next project or phase of growth? Let’s talk! If you have questions about what type of financing is right for your business or whether you meet the credit requirements for financing, fill out our online contact form or give us a call at 616-735-2393.

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