March 3, 2024

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BridgePoint Financial expands senior secured credit history facility from $60 million to $100 million primarily based on potent general performance and new company lines

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Improved credit rating facility will come on the heels of BridgePoint’s strong overall performance all through the pandemic and the introduction of inheritance loans and expropriation financing enterprise strains.

TORONTO, Dec. 21, 2020 /CNW/ – BridgePoint Monetary Expert services Inc., the general spouse of BridgePoint Fiscal Products and services Constrained Partnership I (“BridgePoint”), Canada’s leading company of specialized loans for the lawful services current market, is happy to announce that BridgePoint’s senior secured credit facility was recently elevated to $100 million to support crucial development initiatives for 2021.

BridgePoint Financial Services Inc. logo (CNW Group/BridgePoint Financial Services Inc.)

The first $60 million facility shut in late February 2020. Even with the considerable and destabilizing effect the COVID-19 pandemic has experienced on the Canadian authorized solutions sector since March 2020, BridgePoint has ongoing to expertise solid financial overall performance within its effectively-recognized private damage market, as very well an accelerating pipeline of prospect in its developing markets for inheritance loans and expropriation funding. BridgePoint’s elevated availability will electricity its ambitious expansion strategy for 2021.

“Our ability to noticeably develop the dimension of our senior credit rating facility in just 8 months of its initial closing plainly validates the toughness of our organization and the thrilling options for continued advancement as we improve penetration in our present marketplaces and increase into new spots, and also demonstrates our senior lender’s very clear knowing of our company.”, claimed John Rossos, Co-Founder and Principal of BridgePoint. “It even more reflects the top quality of our team and our substantial investments in technologies and infrastructure to help the accelerating progress of our small business. Considering that March, we have demonstrated our management as an innovator in the legal expert services market place, with an unwavering determination to facilitating obtain to justice.”&#13

In the second fifty percent of 2020, BridgePoint released two new merchandise – inheritance financial loans and expropriation financing. “These items give an invaluable and well timed supply of financing for beneficiaries or executors who involve liquidity pending the closing distribution of an estate, or for firms and individuals struggling with important economic losses arising from the expropriation of their houses or interruption of their operations”, said Andrew Shortreid, Chief Money Officer of BridgePoint. “Our proficient staff proceeds to determine progressively novel and innovative techniques to underwrite legal threat for shoppers and progress resources that allow them to satisfy their recent requirements when they battle to acquire good payment.”

About BridgePoint Financial

Considering the fact that 2005, BridgePoint Economic has been the leader in Canada’s litigation finance current market, featuring a vary of impressive buyer and enterprise funding options to the lawful services marketplace coupled with an unwavering aim on client provider. As a vocal advocate for access to justice, BridgePoint’s contributions to the speedily evolving lawful marketplace contain unparalleled interactions with lawful field titans hunting for novel funding initiatives and who worth BridgePoint’s continued endeavours to innovate and build technological innovation-centered purposes to make their procedures extra successful.

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