Short-Term Loan for a Capital Markets Company
A privately-owned financial services company with deep experience in real estate development in the hospitality and tourism sector, primarily in the Caribbean.
Sector: Real Estate
Loan Type: Senior Secured Short-Term Loan
Location: The Bahamas
Loan Amount: $40,000,000 USD
Date: August 2022 - Present
The borrower was seeking a short-term loan of 12-18 months to support working capital requirements to support project milestones. With significant equity backing on the project, the borrower was seeking modest leverage to enhance returns and manage cash flow. While other lenders were interested in the project, the Borrowers lending requirements were for a relatively short period. Additional complications included lending in the Bahamas, primarily security, structure, and licensing.
To support continued growth, Cortland provided a bespoke USD $40 Million Short Term Loan facility, aligned with the Borrowers expected project cash flows.
The company has been able to continue its strategy without ownership dilution.