Seaport Specialty Lending (“SSL”), a diversified specialty finance company, had another strong loan origination month, funding over $14MM in July. With the supply of charged-off debt at record lows over the past 15 months (during the pandemic), SSL accelerated its initiative to enter other specialty finance verticals. Over the past quarter, SSL began funding performing auto note buyers and consumer lenders. SSL has experienced a recent surge, however, in debt buyer financing deal flow mostly due to large refinance and recapitalization opportunities in the marketplace.
SSL maintains a robust and diversified pipeline that includes opportunities in healthcare finance, inheritance funding, merchant cash advance, mortgage notes and litigation funding. SSL co-founder Michael Bernstein is excited about SSL’s continued growth of both its portfolio and team. He added that “SSL strives to differentiate itself from other specialty finance companies by providing maximum flexibility; deal creativity; and expedited funding.”
About Seaport Specialty Lending (SSL)
SSL is a specialty finance company based in Palm Beach and New York City that provides asset-based loans to small and mid-sized, companies. SSL typically structures its loans as senior-secured, short-term funding to businesses that have quality operations, experienced management team, and strong profit potential, but lack efficient access to capital. SSL commits to and funds loans of $5 million to $25 million, with typical terms ranging between 12 and 36 months.
SSL’s experienced management team has a strong record of executing complex transactions by offering flexible funding solutions that cannot be provided by traditional banks or conventional lenders. SSL’s management team has funded over $1.5B in loans since 2010.