Revolving and Short-Term Loan for Battery Manufacturer

Borrower Profile

Sector: Industrials

Description: Battery Manufacturer

Date: August 2019 - Present

Loan Amount: $13,000,000 CAD

Loan Type: Senior Secured Revolver & Short Term Loan

Location: Canada

Challenge

Banks unwilling to fund the borrower's growth plans.

Result

Lending commitment grew to $13 million within 9 months. Borrower's revenue has grown 200%+ year-over-year since the initial funding. Share price since the initial advance under the credit facility has grown 700%.

Solution

Cortland provided a $1.5 million initial credit facility to support inventory purchases for order fulfilment.