Encina Lender Finance and Sterling National Bank provided a senior credit facility to iBorrow, a national private commercial real estate lender. Oaktree Capital Management also made a direct investment in the company.
iBorrow, led by partners Brian Good, Andy Peltz, Harlan Peltz and Andy Smith, provides bridge loans to qualified real estate investors active in the commercial real estate marketplace
“Forging a relationship with Encina, Sterling National Bank and Oaktree is a very important step in the growth of iBorrow,” Brian Good, CEO of iBorrow, said. “The investment capital will be utilized to expand our loan book across the United States at a time when we feel there will be heightened demand for real estate financing solutions.”
“We have enjoyed working with Sterling National Bank to structure and document the credit facility for iBorrow. Our facility was designed to support the operational and growth objectives of the seasoned management team at iBorrow,” Luke Graham, CEO of Encina Lender Finance, said.
Headquartered in Atlanta, Encina Lender Finance provides revolving lines of credit and term loans ranging in size from $10 million to $40 million to specialty finance companies (sponsored and non-sponsored) across a range of asset classes.