It wouldn’t be summer without a trip to the fair. For the last 50 years Great Western Products has been supplying all of our favorite fair treats: popcorn, popcorn seasoning, cotton candy, snow cone syrup, funnel cakes, candy apple mix, and corn dog batter.
As their slogan says, they’re the “Snack Pros Since Before Zip Codes!” It started with popcorn and over the years expanded into other fun foods. Today, the company is completely vertically integrated and controls every aspect of their products from raw materials to packaged products, ensuring the highest quality snack fare.
Great Western was founded in the 1960s with its headquarters in Hollywood, Alabama. They're completely vertically-integrated, controlling every aspect of their product from raw materials to packaged product so that you can be sure you're getting a quality item with every purchase. The company manufactures a wide variety of quality concession supplies that can be made to treat your customers to their favorite snacks. From the ingredients and food themselves to the boxes and bags in which they're packaged, Great Western has everything you need to turn a profit from snacks.
In addition to growing their product lines from popcorn to other fun foods, Great Western products began expanding their business through exporting. Expansion often brings with it the need for capital, and Great Western was no exception. The company needed cash to manufacture products for exports. They had foreign accounts receivables, but unfortunately, the receivables were not insured and their lender would not include them in the company’s borrowing base, leaving Great Western with a “dead” asset.
Enter EXIM. With export credit insurance from EXIM, Great Western was able to accomplish two very important goals:
- Leverage foreign accounts receivable to increase borrowing capacity
- Protect international revenues and safeguard foreign receivables from the risk of nonpayment by international customers
By insuring its foreign accounts receivable and assigning them to its lender, Great Western Products was able to increase its borrowing base and have access funds for its export sales development efforts. The company executives can now breathe easier knowing that 95 percent of the company’s sales invoice was back by the United States government.
Fair-goers worldwide are now able to enjoy these made-in-the-U.S.A. tasty treats!