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Montfort Capital Announces a $65 Million Loan Capacity Increase for Insurance Lending Subsidiary Langhaus Financial and the Creation of Series 1 Class C Preferred Shares
Montfort Capital Announces a $65 Million Loan Capacity Increase for Insurance Lending Subsidiary ...
About this update from Montfort Capital Corp
[{"type":"text","content":"\n \n \n \n Montfort Capital Announces a $65 Million Loan Capacity Increase for Insurance Lending Subsidiary Langhaus Financial and the Creation of Series 1 Class C Preferred Shares\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n ~Langhaus Financial increases bank loan capacity with its largest lending partner and Montfort Series 1 Class C Preferred Shares created to convert\n \n $12.5 million\n \n of\n \n \n Langhaus Class A Preferred Shares~\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n July 4, 2023\n \n \n /CNW/ -\n \n Montfort Capital Corporation (\"Montfort\" or the \"Company\")\n \n (TSXV: MONT) (OTCQB: MONTF), a leading alternative lender utilizing focused strategies, experienced management teams and advanced technology, is pleased to announce that its insurance lending subsidiary, Langhaus Financial Partners Inc. (\"Langhaus\"), has increased its bank funding capacity by\n \n $65 million\n \n . Additionally,\n \n Montfort\n \n has launched its Series 1, Class C Preferred Shares for the conversion of\n \n $12.5 million\n \n of Langhaus Class A Preferred Shares. Langhaus is the leading non-bank provider of life insurance backed lending solutions to high-net-worth individuals and entrepreneurs in\n \n Canada\n \n . This expansion is a strategic move to support the rapid growth of Langhaus' insurance lending business.\n \n \n \n \n \n \n \n \n \n \"The additional capacity comes at a highly opportune time for our insurance lending business,\" said\n \n Cory Bast\n \n , COO of Langhaus Financial. \"We continue to see growth in demand for our insurance policy-backed lending solutions and this increase in funding will enable us to expand our business and support Canadian advisors and their clients. The share conversion is also an endorsement of the\n \n Montfort\n \n business model leveraging its expertise in private credit across many verticals including technology, small and medium sized businesses, real estate and our insurance lending solutions.\"\n \n \n \n \n Creation of Series 1, Class...