Greenfield Commercial Credit (Canada) has met the requirements to list on the TSX Venture Exchange and will commence trading at the opening on 30 April 2003.
Greenfield Canada has entered into a strategic relationship with Greenfield Commercial Credit LLC (GCC) in setting up a Canadian specialty finance business. The company will offer asset-based loans of C$200,000 to C$5.0 million to small- and medium-cap Canadian businesses.
Greenfield Canada has financed its operations with the completion of two private placements that raised C$2.55 million in working capital. In addition, Greenfield has entered into a C$10 million revolving credit facility with Lasalle Business Credit, a division of ABN AMRO Bank N.V., which will provide working capital for Greenfield Canada's operations. With C$12.55 million in initial financing, the company may seek additional financing as operations expand.
