An Apple a Day…

….Keeps the bank away.

Or so our borrower thought.

A relatively young and progressive grower of apples and cherries in central Washington knew it was time to diversify his varietals given market pressures. Despite being a third generation grower with an ample land base, his previous lender grew concerned about abrupt changes to his crops. Tiverton provided a $30 million credit facility for real estate, operating and new acreage development. The grower successfully transitioned his acreage and saved over $5 million in debt service payments along the way.