TORONTO, Oct. 26, 2021 /CNW/ - Kuber Mortgage Investment Corporation ("Kuber" or the "Company") is pleased to announce that it has secured a $40 million revolving credit facility (the "Credit Facility") from a top 5 Canadian Schedule 1 bank (the "Bank").
The Credit Facility is for a term of 12 months.
Sutha Kunam, President and Chief Executive Officer, said "Closing this Credit Facility and partnering with one of Canada's top financial institutions is a testament to our incredible team, and reflects our strong focus on policies, procedures, and regulatory compliance. This Credit Facility will allow Kuber to accelerate its growth plans and help borrowers looking for an alternative solution in the lending space."
About Kuber Mortgage Investment Corporation
Kuber, founded in 2016, is a non-bank lender that provides highly personalized short-term mortgage loans to credit-worthy borrowers whose financial needs cannot be met by the conventional lending restrictions of banking institutions. Kuber offers investors who wish to take part in mortgage investments, but who may lack the expertise, time, energy, or investment capital required to invest, a unique opportunity to invest in a diversified pool of mortgages, concentrated mainly in the Greater Toronto Area. Kuber currently has over $70 million in mortgage assets under management.
Additional information on the Company is available at www.kubermic.com
Forward Looking Statements
Although forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
SOURCE Kuber Mortgage Investment Corporation
View original content: http://www.newswire.ca/en/releases/archive/October2021/26/c6075.html