E CONOMICS
you have a line of credit, you probably don't want to put it into a depreciating asset such as barrels," he said. With the financial industry tightening
up, lenders require more information than in years prior, so be prepared to be highly scrutinized. Even if you've been in business for several years, in addition to a complete business credit application Hansel Leasing requires two years of financial statements such as balance sheets, profit and loss statements, one bank and three trade sup- plier references, personal credit informa- tion on the principals with tax returns and financial statements and the listing and pricing of the barrels you wish to lease. Though there's money available at competitive rates, Taylor said the prin- cipal or principals of the project would have to have a very strong financial posi- tion. "It helps if they come from a related industry that shows a track record of business practices. We are not actively out there soliciting startup wineries." Hansel Leasing, which is a division of Hansel Auto Group, approves credit, creates the contract and services the lease. Statements come from Hansel, and the win- ery pays Hansel, which is a locally owned company that does its own underwriting.
COMPANY American AgCredit
Bacchus Capital Management Bank of the West
Dal Poggetto & Co. LLP Farm Credit GE Capital
Global Wine Partners
H & A Financing and Services Hansel Leasing Harris Bank
Mission Capital PricewaterhouseCoopers LLP Silicon Valley Bank, Wine Division
Financial Services Suppliers PHONE
WEBSITE (800) 800-4865 agloan.com
(415) 828-8898 bacchuswinefund.com (707) 252-5850 bankofthewest.com (707) 545-3311 dalpoggetto.com
farmcreditnetwork.com
(866) 218-8050 americas.gecapital.com (707) 967-5315 globalwinebank.com (707) 927-0440 hafinancing.com (707) 544-2822 hanselleasing.com (415) 354-7510 harrisbank.com
(707) 431-2678 missioncapitalfund.com (415) 498-6270 pwc.com (707) 967-1367 svb.com
Not all financial institutions provide barrel financing. Please check with individual financial institu- tions regarding their lending policies.
For more on financial services suppliers, see Wines & Vines' 2011 Buyer's Guide in print or online at winesandvinesbuyersguide.com. Data above current as of July 25, 2011.
This can present a variety of options for a winery's specific needs. "Each lease is under- written separately based on the needs of the client. We don't have a checklist we go down. Each lease is individual," Taylor said. Taylor has observed that most wineries keep the barrels at the end of their lease. However, if that's not your winery's goal,
a barrel-specific leasing company with re- sale services may be an intriguing option.
Barrel-specific leasing
H&A Financing & Services was founded 10 years ago in France. With offices in Spain, H&A is undergoing an interna- tional expansion and has recently estab-
Wines & Vines sePTeMBeR 2011 35
