DARIEN, Connecticut, October 27, 2020 (GLOBE NEWSWIRE) – Old Hill has provided $ 8 million in the form of a senior secured revolving term credit facility to a specialty finance company that provides working capital to small businesses in the form of cash advances to traders. The facility was secured by a perfect first ranking security interest in receivables issued by the borrower.
“We operate in an underserved part of the credit market that requires specialist knowledge and is avoided by large traditional banks due to regulatory constraints. Our experience in the area of cash advances to merchants, stretching back over a decade, allowed us to execute the transaction in a challenging market environment for the industry. We worked closely with the borrower to craft a personalized transaction, backed by strong collateral, that aligns the interests of all parties involved, ”said Peter Faigl, Senior Portfolio Manager at Old Hill.
Old Hill offers asset-based lending solutions to borrowers seeking financing from $ 5 million to $ 35 million. The company structures senior secured debt in the form of term facilities, drawdowns and revolving credit for up to four years and loan-to-value ratios between 35% and 85%. Types of guarantees include pools of loans or leases (specialized financing), receivables, inventory, machinery and equipment.
Old Hill Partners Inc. is an alternative asset manager focused on asset lending transactions with small and medium-sized businesses. As an SEC-registered investment advisor, we operate at the crossroads of investors seeking attractive risk-adjusted returns and emerging companies seeking capital for expansion, acquisitions or growth.
Old Hill Partners Inc.
1120 Boston Post Road
Darien, Connecticut 06820
Telephone: 203 656 3004