Davis biotech firm gets loan for factory expansion

Published: Tuesday, Jun. 17, 2014 - 9:18 am

Marrone Bio Innovations Inc., the Davis biotech company, said Tuesday it obtained a $10 million loan to expand its Michigan factory.

The maker of eco-friendly pesticides said it borrowed the money from Rocklin’s Five Star Bank.

Marrone’s loan came through two weeks after the U.S. Department of Agriculture agreed to guarantee the loan through its business and industry program.

Marrone bought the Michigan plant in 2012.

The company’s shares rose 19 cents, to $11.64, in Nasdaq trading Tuesday morning.

Call The Bee’s Dale Kasler, (916) 321-1066. Follow him on Twitter @dakasler.

Read more articles by Dale Kasler

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