Old Hill Partners provided a $5 million senior secured revolving-to-term credit facility to a specialty finance company that funds small businesses in the form of merchant cash advances.
The facility is secured by a first lien perfected security interest in the advances.
“We bring expertise in specialty finance, an area of the lending market which requires specialized knowledge and that is being avoided by large traditional banks due to post-crisis regulatory constraints. Old Hill’s experience in the merchant cash advance industry which goes back more than 10 years,” said, Peter Faigl, senior portfolio manager at Old Hill.
Historically, Old Hill provides asset-based lending solutions for borrowers seeking $5 million to $25 million in financing.
