SeaFund will finance primarily USDA contracts
Blu Artic and Republic Capital Access have launched the program SeaFund. It gives financing solutions for those seafood companies that sell to the US Government. The program finance primarily USDA contracts.
Thereby, Blu Arctic will finance the related inventory, then Republic Capital Access will provide liquidity to fund the related Government receivable. Both companies confirmed in a press release that they can support smaller and medium-sized seafood companies to bid for Government contracts.
In more detail, Blue Arctic CEO Tom Leissl stated: “With seafood purchases by the US Government up 300% in the last eight years, Blu Arctic knew we needed to partner with a finance company with specialized knowledge of the intricacies associated with financing federal contractors.”
Besides, he added: “Republic, a Department of Defense Trusted Capital Marketplace member, was the logical choice. As they have financed over 1,200 companies and 4,000 contracts in the last decade.”
On the other side, CEO of Republic Ed Stucky has noted the honor of contributing along with Blu Arctic. “Blu Arctic’s expertise, flexibility, and stellar reputation are second to none. Blu Arctic shares our motto or ‘Relationships over Transactions’ which is at the heart of all our business dealings,” he concluded.
About Blu Arctic
Blu Arctic has been providing Procurement Financing Services for seafood inventories for more than 15 years. The offices are in the United States and Canada. It bought seafood from more than 40 countries.
The company has more than 80 years of seafood and finance experience. Its management is backed by private, institutional investors. It is the only Procurement Company fully dedicated to the seafood and fishing industry.
About Republic Capital Access
Republic Capital Access opened its doors in 2009 and is now the largest, and fastest-growing, commercial finance company exclusively for government contractors, both large and small.
In 2011, it became a subsidiary of Stephens Investment Holdings, LLC, a multi-billion dollar investment firm headquartered in Arkansas.