Asset-Based Loan Facility for Toronto Coffee Trader

This listing presents an opportunity to act as a senior secured lender for a $1 million short-term asset-based loan facility. The facility is designed to support a Toronto-based small agri-commodity trader specializing in premium Kenyan coffee. The loan will be secured by the coffee shipments, with financing provided for approximately 60 days per shipment. The senior secured lender will provide 85% of each loan, with the business (the lender/arranger) providing the remaining 15% as a junior secured lender. The business will handle loan documentation and administration. The borrower, established in 2021, has reported $150K in sales, $150K in total assets, and $27K in equity, with 3 full-time and 3 part-time employees. The interest rate for the senior secured lender is SOFR + 10%pa, currently totaling 15.35%pa, with a floor SOFR of 3.5%pa.