The fit between Nomen Foods and NoviCap
The fit between Nomen Foods and NoviCap Nomen is a very intensive company in the use of working capital due to the nuances of its sector. On the one hand, they have to buy all the rice they are going to distribute during the rest of the year on a specific date, and on the other hand, their customers buy the rice throughout the year. These include, for example, large distribution chains with a lot of bargaining power to defer payments from 60 to 120 days. Add to that the operational complexity of the sector by the number of invoices issued, the amount of them and the intermediation of a central purchasing body. This situation has led them to look for a financing alternative that adapts to their operational needs and allows them to improve their cash flow.
“NoviCap has allowed us access to a new traditional non-bank financing, with new possibilities and financing instruments at a reasonable cost and easy to manage”