Bottled natural spring water manufacturer Nirvana Water has received a $3.2m loan from the New York Business Development.
The company used the loan amount to purchase a new bottling line that has the capacity to annually produce eight million cases of bottled water at the Boonville plant.
The funding comes from the New York State Common Retirement Fund and is said to be an investment for the business as well as the state.
Nirvana president and CEO Mozafar Rafizadeh said that the loan will be paid back within the next three to four years.
The company received additional funding for its new bottling line from the federal Small Business Administration.
Source:
http://beverageproducts.packaging-business-review.com/news/nirvana-receives-loan-to-expand-bottled-water-business-220813
