Lendified signs letter of intent for a new $ 10,000,000 credit facility with Windsor Private Capital and Firepower Capital to strengthen its lending platform to finance small businesses
Toronto, Ontario – (Newsfile Corp. – April 5, 2021) – Lendified Holdings Inc. (TSXV: LHI) (formerly, Hampton Bay Capital Inc.) (the “Society” Where “Lendified“) is pleased to announce that the Company’s wholly owned subsidiary has entered into a non-binding letter of intent with Windsor Private Capital Limited Partnership and FirePower Capital (together, the”Lenders“) for a non-revolving term loan for a maximum total amount of $ 10,000,000.00 (the”Credit facility“).
Under the Credit Facility, the parties will enter into a definitive credit agreement and a general guarantee agreement in favor of the Lenders under the usual terms and conditions in such transactions. The credit facility will be used by Lendified to finance new loans to small and medium-sized businesses in Canada.
John Gillberry, CEO of Lendified, said: “This new credit facility demonstrates the confidence of our lenders in Lendified’s ability to identify and implement new lending opportunities in the small and medium business market. in Canada. This credit facility forms a basis for the future growth of our lending business. “
Jared Kalish, Partner at FirePower Capital, added, “Lendified provides an important source of financing for small businesses that ultimately helps drive economic growth and job creation in Canada. Their loan portfolio demonstrated strong performance in a particularly challenging environment, which underpins the quality of Lendified’s technology-based auction platform. We’re excited to support Lendified’s growth goals, which will help small businesses get the capital they need. “
Jordan Kupinsky, Managing Partner of Windsor Private Capital, added: “Windsor is pleased to support the restructuring of Lendified’s balance sheet and to provide the company with a new source of funding for its small business loan program. Small businesses are the engine of growth and often unable to find financing solutions. Lendified helps fill this gap. We are pleased with the performance of the existing Lendified loan portfolio, especially during this difficult year with so many businesses impacted by the COVID-19 pandemic. We look forward to supporting the growth of the Company and its clients as the Canadian economy begins to recover. “
ABOUT LENDIFIED HOLDINGS INC.
Lendified, a company located in Ontario, Canada, is a Canadian company that operates a lending platform that provides working capital loans to small and medium-sized businesses across Canada.
For more information on Lendified, please contact:
John Gillberry, CEO and Director
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