Description: Battery Manufacturer
Date: August 2019 - Present
Loan Amount: $13,000,000 CAD
Loan Type: Senior Secured Revolver & Short Term Loan
Banks unwilling to fund the borrower's growth plans.
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%.
Cortland provided a $1.5 million initial credit facility to support inventory purchases for order fulfilment.