Advantage Capital, a commanding impact investment establishment, moment blazoned a$1.75 million investment in Utah-grounded baked goods manufacturer, Farmstead Manufacturing. The company will use the backing to support the land purchase and make out a marketable bakery from 1,000- forecourt- bases to 5,000- forecourt- bases to expand its operations and distribution through noncommercial, e-commerce, and catering. Farmstead has been steadily growing for nearly two times now, and this capital came at a vital time as we head down a new path to continue to make our business, ” said Li Hsun, COO, of Farmstead Manufacturing.
We want to continue to grow at a sustainable rate, and we’re eager to take these coming ways to achieve our pretensions. ” The investment was made in connection with the Utah Rural Jobs Act( RJA) — a program that was first inked into law in 2018 and renewed in 2022. The program supports businesses in pastoral Utah with demanded capital to produce full-time, high-pay envelope jobs by furnishing flexible and affordable capital. “ I’m pleased to see the Utah RJA program working just as we intended it to, ” said Utah State Senator Evan Vickers. “ frequently times pastoral communities are overlooked when it comes to small business backing. still, Utah is a fantastic state to grow a business, and Farmstead is a perfect illustration of that. With this program, we can continue to stimulate original husbandry and produce good-paying jobs for people in the community.
” With the expansion of its installation, Farmstead will become a major employer in Leeds, Utah with plans to hire 25- 30 new workers, offering a competitive starting stipend of 21 per hour with comprehensive health, dental, and vision benefits. Advantage Capital also partnered with the World Trade Center Utah and the St. George Area Chamber of Commerce to source and grease the sale. “ We’re agitated for the growth eventuality of Farmstead then in our community, ” said Shawn Christensen, CEO of the St. George Area Chamber of Commerce. “ Seeing an original company expand on such a grand scale is further evidence that Southern Utah is a great place to headquarter a business. Arranging backing for this design shows what collaboration can do when the right parties are involved. Now jobs will be added to our request, and Farmstead will have further reach than ever ahead. The new installation is slated to be completed in the spring of 2024 and will mark a major corner in the company’s growth and product capacity. “ Farmstead Manufacturing has the kind of entrepreneurial vision we look for in a business when we invest, ” said Trey Garland, elderly Associate, at Advantage Capital. “ We’re pleased to be suitable to work with innovative programs similar to the Utah RJA to help give the kind of flexible backing businesses like Farmstead Manufacturing are looking for. It’s instigative to see the growth eventuality of the company and the great jobs it’ll bring to the original community.
About Advantage Capital
Advantage Capital provides financing to established and emerging companies located in communities underserved by conventional sources of capital. Since 1992, the firm has invested more than $4.1 billion in companies from a diverse array of industry sectors and has helped support more than 67,000 jobs. Learn more at advantagecap.com, or via X (formally Twitter) or LinkedIn.
About Farmstead Manufacturing
Farmstead Manufacturing is a supplier of croissants, donuts, danishes, and pastries to cafes, hotels, and wholesalers across Utah, while also providing catering services. Farmstead prides itself on providing the best-baked goods possible to Utah residents while also positively shaping the community by offering quality jobs and a positive work environment.
