DARIEN, Conn., March 04, 2020
Old Hill has provided a $6 million revolving facility to a company focused on lending to small and medium-sized buyers of portfolios of charged-off consumer debt. The underlying loans are backed by portfolios of charged-off credit card receivables, installment loans, auto deficiencies, student loans, and other, mostly consumer-based, lending products.
“We operate in a segment of the lending market that requires specialized knowledge and that is underserved by large traditional lenders due to regulatory constraints. The firm’s experience in the asset-based lending (ABL) sector and particularly in specialty and consumer finance, allowed us to execute on a transaction that offered a flexible financing solution for this borrower that is not available from traditional banks. We worked very closely with the borrower to craft a tailored transaction, secured by solid collateral, that aligned the interests of all involved,” said, Peter Faigl, Senior Portfolio Manager, at Old Hill.
Historically Old Hill provides asset-based lending solutions for borrowers seeking $5 to $25 million in financing. The firm structures senior secured debt in the form of term, draw down, and revolving-to-term facilities of up to five years and loan-to-value ratios in the range of 35% to 85%. Collateral types include pools of loans or leases (specialty finance), receivables, inventory, machinery, and equipment.
Old Hill Partners Inc., founded by John Howe, is an alternative asset manager focused on asset-based lending transactions with small- and medium-sized businesses. As an SEC-registered investment advisor, we operate at the crossroads of investors seeking attractive risk-adjusted yields and emerging companies seeking capital for expansion, acquisitions or growth.
Business Development & Investor Relations Associate
Old Hill Partners Inc.
1120 Boston Post Road
Darien, Connecticut 06820
Phone: 203 656 3004