US Debt Ventures Secures $100MM Credit Facility
US Debt Ventures, a private equity firm that has acquired over $750 million in non-performing loans to date, announced that it has secured a $100 million revolving credit facility from a major financial institution.
The facility gives US Debt Ventures increased capacity to further expand its successful non-performing loan and REO disposition model. The firm expects to surpass $1 billion in total portfolio purchases in 2013 and following the close on this financing facility, US Debt Ventures plans to deploy committed capital through national non-performing loan and REO portfolio acquisitions.
Todd Billings, CEO of US Debt Ventures recently stated, “We are pleased with the successful completion of securing this credit facility. This financing represents a significant milestone for US Debt Ventures. Securing this line of credit gives us the flexibility to acquire additional assets in a highly attractive environment. The securing of attractive debt financing also validates our success as an owner and manager of distressed mortgage and REO assets. This level of commitment from a large financial institution represents a vote of confidence in our performance and the strength of our company.”