Highlights

    • In 2022, this company yielded 5.8% vs 5.3% in 2021, amid higher mortgage receivables and lending rates. The yield further increased to 8.1% in Q1- 2023. The fund has been able to raise its lending rates quickly because 80%+ of its mortgages are floating rate.
    • In 2022, mortgage receivables were up 47% YoY, to $34M. As of June 2023, receivables totaled $35M – the highest in the fund’s history.
    • In addition to accredited investors, the fund has 10 B.C.-based financial institutions as investors (up from nine at the time of our previous report in 2021), which we believe reflects the ongoing trust and confidence of institutional investors.
    • We believe alternative lenders, such as this company, should be able to continue growing their loan portfolios, amid lower repayments and new loan applications from borrowers unable to qualify with traditional lenders due to high rates.
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