Merchant Opportunities Fund Increases BMO Credit Facility to $100 Million
VANCOUVER, BC, Aug. 21, 2023 /CNW/ - The Merchant Opportunities Fund, a Vancouver-based private debt fund focused on investing in specialty finance portfolios, today announced that it has increased its revolving debt facility with the Bank of Montreal ("BMO"). The facility now consists of a $70 million funding commitment with a two-year term along with a $30 million accordion, with a Schedule 1 bank being added to the now syndicated facility.
The Merchant Opportunities Fund invests in proprietary specialty finance portfolios that in many cases consist of loans or advances that are originated, underwritten, and serviced by their primary originator, Merchant Growth. The BMO debt facility specifically provides funding for the Merchant Growth portfolio. BMO is acting as Agent and Sole Bookrunner on the revolving debt facility.
"We are thrilled to help thousands of additional Canadian borrowers through this significant increase in our borrowing capacity with top tier financial institutions," said David Gens, President & CEO of the Merchant Opportunities Fund and Merchant Growth.
Through the fund's 13 year track record of prudence and profitability, the Merchant Opportunities Fund has helped its investors generate attractive and consistent returns while also contributing to the prosperity of more than 15,000 businesses and individuals. Since its inception in 2010, the Fund has generated a compound annual return net of all fees of over 9% for its investors, and delivered nearly 14% in 2022.
Our mission is to provide our investors with returns typically only accessible to institutional or accredited investors through private investments, coupled with greater liquidity options and flexible redemption rights. We do this by investing in short-term, small to mid-sized business credit and consumer loans originated by successful specialty finance companies. Since 2010, our capital has contributed to the prosperity of more than 15,000 Canadian businesses and individuals. To learn more, visit www.merchantopportunitiesfund.com.
Merchant Growth is a leading Canadian financial technology company that specializes in small business financing. Over the past decade, Merchant Growth has supported Canadian businesses with hundreds of millions of dollars in growth financing. Using an innovative approach that includes the latest technology, complete transparency, and thoughtful customer care, Merchant Growth is committed to helping make business financing easy to understand and accessible. To learn more, visit www.merchantgrowth.com.
SOURCE Merchant Growth
Sean Watkins | VP of Marketing | Merchant Growth | 416.846.6900 | [email protected]
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