SG Credit Partners provided a $1.5 million senior secured loan for a Saas company.
The company’s existing debt facility was maturing, and the incumbent lender was unwilling to extend due to lender fatigue and other circumstances. SG was brought in alongside an equity contribution to refinance the debt and provide additional working capital.
SG was able to get comfortable with the business due to the contracted recurring revenue, continued equity support, and opening liquidity. SG provided a $1.5 million non-formula, structured senior secured loan. The incumbent lender successfully exited the credit as desired, and the company received additional working capital.