Diamond Business Credit announced that it recently launched a new credit product offering – Special Opportunity Loans.
The offering is intended to complement Diamond’s asset-based loan product for non-bankable companies by providing a second lien or stretch tranche of capital, above and beyond what a typical ABL formula would yield.
Funding can help a business take advantage of a unique and lucrative opportunity like a debt repurchase, an acquisition or a new product launch.
Three recently funded opportunities ranged from a $25,000 structured over-advance to effect a bank take-out to a $500,000 second lien term loan for a new product launch.