Cady Bag company, a leading manufacturer of polypropylene woven bags and fabrics under the Georgia Agribusiness and Rural Job Act, had an investment by the Advantage Capital of $5 million. The investment will help the company to overcome the economic impact of COVID-19 and it after effects, provide support for continued business, and job growth.
Cady Bag is a major employer in Atkinson County, located in southern Georgia where unemployment has more than doubled since March, largely due to the effects COVID-19 has had on the region. The company currently employs more than 100 people and has plans for steady job growth, primarily pulling from the local area.
Cady Bag is Advantage Capital’s sixth investment in connection with the GARJA programme. Advantage Capital has now invested $20 million in small businesses across Georgia, which have helped support more than 300 full-time jobs and economic growth in the state’s rural communities.
“I’ve been doing economic development work here in Georgia for 25 years. Access to capital has always been a struggle for rural areas of the state,” said Georgia Tech economist Alfie Meek. “Programmes like GARJA work and they have a proven track record of success in getting much-needed capital to rural areas.”
“We have been able to achieve great results through our participation in the GARJA programme, and it’s exciting to continue working with high-growth companies such as Cady Bag,” said Tim Perusek of Advantage Capital. “Each investment we make offers a customised financing solution for the company that positions it for future growth, enabling it to expand jobs in the communities where they are located.”
