Revolving Loan for
Medical Device Manufacturer
Leading-edge rehab and training equipment manufacturer that uses NASA differential air pressure technology to empower people to recover mobility, improve wellness, and enhance physical performance.
Loan Type: Senior Secured Revolver
Location: California, United States
Loan Amount: $8,000,000 USD
Date: October 2021 - Present
The borrower was looking to reduce the complexity of existing debt financing coming from multiple lenders and find a capital solution that would be in line with their growth objectives.
Cortland provided an $8 million revolving credit facility that allows the company to leverage all of its balance sheet assets and use the capital to execute the company's growth plans.
The company is successfully utilizing the credit facility toward achieving strategic goals. In 2021, the borrower exceeded their budgeted revenue and earnings and are on track to have another successful year in 2022.