RMI Success Stories
Robert Hatch always knew he had the right ingredients to make his company competitive.
As owner of Cereal Ingredients of Leavenworth, Kan., Robert Hatch spent nearly 10 years researching and testing his food products before bringing them to market. Cereal Ingredients’ small products add flavor, texture and color to cereals, preblended mixes and other baked goods.
“We had perfected and patented the product and the process,” recalls Hatch. “But with increasing orders and only one production line, what we really needed was a plant.”
In 2004, Cereal Ingredients approached banks for financing to build. The answer came with First Missouri Bank, the Bank of Blue Valley and a 504 Loan with RMI.
“The 504 Loan allowed us to double our production,” Hatch says, “which led to increased sales, particularly overseas.”
After building the new plant and an additional production line, Cereal Ingredients continued growing the company with 504 Loans from RMI. In 2006, a third production line was added, and a loan was secured to finance storage silos in 2007.
“Anytime someone approaches me about finding bank financing to grow a company, I tell them to look at a 504 Loan and RMI,” Hatch says. “Banks are impressed with RMI too. They’ve got a great reputation in town.”
Cereal Ingredients has created 66 new jobs in less than four years. They now serve more than 200 clients including General Mills, Nestle, Pepperidge Farms and Kraft Foods.
Hatch says their “secret ingredient” is great customer service. “Clients tell us what they need and we figure out how to make it.”
The 504 Loan from RMI allowed us to double our production, which led to increased sales.