Revolving and Short-Term Loan for Battery Manufacturer

Borrower Profile

A pioneering leader in the global energy transformation focused on contributing to the prevention of climate change by supplying safe and long-lasting lithium-ion batteries without compromising energy and power.

Sector: Industrials

Loan Type: Senior-Secured Revolver & Short Term Loan

Location: Ontario, Canada

Loan Amount: $16,000,000 CAD

Date: August 2019 - Present

Challenge

When trying to get debt financing from traditional sources, the borrower came across banks unwilling to fund the borrower's growth plans.

Solution

Within 60 days, Cortland provided a $1.5 million initial credit facility to support inventory purchases for order fulfillment.

Within 9 months after initial funding, the total credit facility grew to a total of $16 million

Result

Borrower's revenue has grown 200%+ year-over-year since the initial funding, and the borrower continues to make the impact in global energy transformation.

Share price since the initial advance under the credit facility has grown 700%.

Not sure if debt financing is right for you? Talk to our Origination Team.