EquiFin, Inc.

Client Profile
After divesting of its non-strategic assets, EquiFin, Inc. (AMEX ticker: II) retained SSG to secure a senior warehouse line of credit in order to fund the Company’s plan to develop into a diversified commercial finance company.
Situation
The primary use of proceeds of this initial tranche of senior debt was to provide capital to its subsidiary, Equinox Business Credit, which offers $500,000 to $3,000,000 in sub-investment grade asset-based financing to middle market companies. The financing was inhibited by the fact that the Company was essentially a start-up operation.
Solution
In December 2001, SSG delivered a $20 million senior credit facility to the Company to allow for expansion of their current portfolio.