Speed as competitive edge in sub lines

A GP that took out a sub line with a new lender entrant to the market notes that speed of closing was a major highlight of doing business with them.

Sub lines: Adam Le has this scoop on UK-based OakNorth Bank entering the subscription line market with a facility for Bluegem Capital Partners. According to Adam: Bluegem co-founder Emilio Di Spiezio Sardo pointed out the six week closing time in its communications about the deal, suggesting that the slowdown seen by many of the big lenders, which I reported in my summer series on the subscription lending market, represents an opportunity new lenders can exploit to gain an edge.

The deal is also a first for OakNorth in other ways. Check out Adam’s insightful report for more details.

Email prepared by Graham Bippart