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Merchant Opportunities Fund Closes $27.5 Million BMO Credit Facility

November 25, 2020, 08:55 AM
Filed Under: Industry News
Related: Bank of Montreal

The Merchant Opportunities Fund, a Vancouver-based diversified credit opportunities fund focused on prudently compounding capital over the long-term, today announced that it has closed a revolving debt facility with the Bank of Montreal ("BMO"). The facility consists of a $15 million funding commitment with a two-year term along with a $12.5 million accordion.

The Merchant Opportunities Fund invests in well-selected 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.

“This year has been challenging for many small businesses. As we get through this pandemic and government subsidies inevitably taper off, the specialty finance industry will play a critical role in supplying capital to businesses as they reboot and grow again. This facility with BMO gives us the debt capital to ensure that Merchant Growth leads this important charge, while also improving the financial performance of our funding vehicle, the Merchant Opportunities Fund,” said David Gens, President & CEO of the Merchant Opportunities Fund and Merchant Growth.

Through the fund’s ten-year track record of prudence and profitability, the Merchant Opportunities Fund has helped their investors generate attractive and consistent returns while also contributing to the prosperity of more than 14,000 businesses and individuals.

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