Tea business borrows from buyer

Portland-based Townshend’s Tea Co. is expanding with a new factory thanks to a loan from Whole Foods.

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Townshend’s Tea Co. is borrowing from Whole Foods Market – the tea company’s largest customer – to expand with a new factory.

Townshend’s Tea Co., which has teahouses on Portland’s Northeast Alberta Street and in Bend, has secured a $48,000 loan from Whole Foods Market. The low-interest loan, payable over three years, allows Townshend’s to open a Southeast Portland factory for making kombucha, a type of fermented tea.

“It’s been an amazing blessing to find a partner who is willing to give us the loan to kick-start us,” said Matt Thomas, the company’s founder and owner. “As soon as I heard about it, it seemed too good to be true.”

Read the full story at OregonLive.com.

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