Old Hill Partners Completes a $30 million Senior Secured Financing for a Merchant Cash Advance Originator


DARIEN, Conn., Jan. 05, 2021 (GLOBE NEWSWIRE) -- Old Hill provided $30 million in the form of a senior secured revolving-to-term credit facility to a specialty finance company that provides working capital to small businesses in the form of merchant cash advances. The facility was secured by a first lien perfected security interest in receivables originated by the borrower.

“We believe that the merchant cash advance space is in the process of emerging from a challenging period and represents an attractive alternative credit opportunity. We have over a decade of experience in this asset class which allowed us to understand the recent distress in the industry and execute on this transaction relatively quickly. We worked very closely with the borrower to craft a custom transaction, secured by strong collateral and ensuring an alignment of interests of all involved,” said, Peter Faigl, Senior Portfolio Manager at Old Hill.

Old Hill provides asset-based lending solutions for borrowers seeking $5 to $35 million in financing. The firm structures senior secured debt in the form of term, draw down, and revolving-to-term facilities of up to four 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. 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.

Press Contact

Christie Fogelstrom
Investor Relations
Old Hill Partners Inc.
1120 Boston Post Road
Darien, Connecticut 06820
www.oldhill.com
Phone: 203 656 3004
info@oldhill.com