Arizona Shrimp Farmer Royal Caridea Lands $2.2 Million Loan
North Avenue Capital, a commercial lender funding USDA Rural Development loans, closed a deal to provide shrimp farmer Royal Caridea with $2.2 million for new equipment and working capital for its Gila Bend, Arizona facility.
Royal Caridea is a shrimp farmer focusing on “reconstituting the shrimp industry by raising a variety of fresh and frozen shrimp products for distribution among regional grocers and restaurants.”
The company operates two properties southwest of Phoenix, the loan is expected to help Royal Caridea make upgrades to its ponds and increase in scale to establish itself in the U.S. shrimp market...
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