MilMar Food Group

LOAN AMOUNT: $15,000,000

LOAN TYPE: USDA B&I Loan

INDUSTRY: Kosher Food Manufacturer

LOAN DETAILS

Location

Goshen, NY

Term

10 years

Prepayment Penalty

10,9,8,7,6,5,4,3,2,1

History

Thomas USAF provided financing of this $15,000,000 USDA B&I CARES Act loan to MilMar Food Group in Goshen, NY.  The loan will refinance long-term debt and help the company recover and respond to ongoing issues posed by the coronavirus pandemic.  Over the past 12 years, Thomas USAF has originated and purchased portions of $35 Million in loans for MilMar.

MilMar is a 50-year-old, kosher frozen food manufacturer in Goshen, New York and offers a full line of convenience products, including an extensive line of appetizers/ hors d’oeuvres, pre-plated kosher meals, gluten free and vegetarian products, bulk entrees, breakfast products, crepes, and blintzes. It is the largest kosher manufacturer/supplier of frozen hors d’oeuvres in the United States. It operates with key management formerly with Wilton Foods and Cohen’s hors d’oeuvre teams. It has utilized its own brands and private label brands for nationally recognized broadline distributor companies for decades.