Neighbourhood Holdings LP Closes Unprecedented Two Year Committed Revolving Facility of $110M

VANCOUVER, British Columbia, July 16, 2019 (GLOBE NEWSWIRE) -- Neighbourhood Holdings Limited Partnership ("Neighbourhood"), the leading provider of alternative mortgages in Canada, today announced the closing of a committed revolving credit facility of $110 million with ATB Financial and another Canadian financial institution. With an additional uncommitted $50 million accordion, this transaction is not only unprecedented but among the largest in the industry. This capital grants Neighbourhood certainty of financing over the mid-term as it looks to expand its national footprint and positions the company as a market leader within the Canadian alternative lender industry.

"We couldn't be more thrilled to receive the trust and support of some of Canada's most innovative and entrepreneurial-minded financial institutions," said Taylor Little, CEO of Neighbourhood. "Securing a committed term was a key objective for our team and provides a strong foundation for growth as we look to accelerate our efforts to optimize our origination channels across the country. This is a pivotal moment for Neighbourhood and a strong indicator that our efforts to change the way mortgage capital is distributed is resonating with Canadians and Canadian financial institutions."

Employing a conservative, nimble approach to mortgage lending, Neighbourhood embraces the latest industry technologies, and is committed to being at the forefront of the industry's innovation and diversification.

NHLP currently offers some of the lowest alternative mortgage rates in Canada, namely in British Columbia, Alberta, Manitoba, Ontario and Québec, while consistently producing strong risk adjusted returns to investors.

For more information regarding Neighbourhood's lending or investment criteria, please contact [email protected].

About Neighbourhood Holdings Limited Partnership.
Neighbourhood Holdings Limited Partnership (Neighbourhood) is a leading alternative mortgage lender. Neighbourhood leverages the latest industry technology and a transparent, conservative approach to lending capital to deliver fast and competitive short-term financing solutions to Canadians in search of residential properties, while consistently producing strong risk adjusted returns to investors. Neighbourhood currently offers some of the lowest alternative mortgage rates in Canada, namely in British Columbia, Alberta, Manitoba, Ontario and Québec. For more information:? www.?nhlp.ca

Neighbourhood Media Contact:
Jen Hazell
604-738-2220
[email protected]