Peter Tucker
Toronto, ON (CAN)
Role(s):
CTEX Group Inc
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Startup
Location:
Toronto
Industry:
Finance
Year Founded:
1996
Number Employees:
INVALID
Business Stage:
Growth (profitable)
Entity Type:
"S" Corporation
Description:
Off balance sheet lending to hotels, On Profit room sales to the travel industry. See (URL removed)
The business is about lending small amounts, heavily discounting the repayment medium and selling at a mark up rate that is equivalent to charging a 100% loan interest rate.
The discounts mean that off-balance sheet loans are good investments in good times and bad:
· Professional due diligence is carried out
· Lenders can prepare different exit strategies
· There is flexibility in funding the loans
· The phased nature of commitments means a balanced portfolio can be built, spreading the risk
· Lending in multiple locations, for example Florida, Barbados, Puerto Rico etc reduces risk
· Demand for loans is outstripping supply