DARIEN, Conn., Jan. 08, 2020
Old Hill provided a $5 million senior secured revolving-to-term credit facility to a specialty finance company that funds small businesses in the form of merchant cash advances. The facility is secured by a first lien perfected security interest in the advances.
“We bring expertise in specialty finance, an area of the lending market which requires specialized knowledge and that is being avoided by large traditional banks due to post-crisis regulatory constraints. Old Hill’s experience in the merchant cash advance industry which goes back more than ten years, allowed us to execute on a transaction that offered a tailored financing solution for the borrower that is not available from traditional lenders. We worked very closely with the borrower to craft a custom transaction that aligned the interests of the involved parties,” said, Peter Faigl, Senior Portfolio Manager at Old Hill.
Historically, Old Hill provides asset-based lending solutions for borrowers seeking $5 – 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 generally not exceeding 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 enterprises. As an SEC-registered investment advisor, we operate at the crossroads of investors seeking attractive risk-adjusted returns 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