Investment Bank Launches Digital Loan Platform for Advisers
SkyView Partners says 16 banks currently have access to online marketplace
Investment News - An investment banking firm that specializes in the independent adviser market has launched a digital marketplace for banks that want to lend money to advisory firms.
Wayzata, Minn.-based SkyView Partners, formerly known as Succession Lending, said its offering, Lender Marketplace, will provide banks with "increased transparency regarding loan flow" typically used in mergers and acquisitions and succession planning.
Currently, 16 commercial banks and two investment banks have access to Lender Marketplace, the firm said in a release.
SkyView said the service, which it claims is the first digital lending platform for the advisory business, gives bank partners access to redacted information on advisory firm credit memoranda that are ready to fund. After reviewing the data, each lender can request a full credit memorandum. Once an applicant reaches an agreement with a lender, a term sheet is executed and the applicant enters an underwriting exclusivity period.
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