Albany Packaging, Inc. is a Toronto-based custom box packaging company founded in 1947. A major player since inception in traditional boxes, the company experienced tremendous growth after a new owner took helm in 1984 and employed some out-of-the-box thinking. Today, the company offers a diverse line of packaging, ranging from colorful gift boxes and hot dog trays to bakery boxes and unique take-out food containers.
However, like many manufacturers, the company eventually found itself in need of working capital due to the nature of the business, in which invoice payments are often profoundly delayed. Additionally, the 2012 acquisition of equipment that promised long-term rewards resulted in a reduction in working capital in the short-term. Albany Packaging needed cash flow for daily operational requirements, such as payroll, monthly fixed costs and supplier payments.