Ackroo adds $1 million through BDC Capital and increases access to capital through RBC/EDC [Canadian Business Journal (Canada)]
Royal Bank Of Canada (RY)
Last royal bank of canada earnings: 2/21 06:00 am
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Company Research
Source: Canadian Business Journal
HAMILTON, Ontario, April 07, 2020 (GLOBE NEWSWIRE) —Ackroo Inc.Bears a 9.75% interest rate while EBITDA is under $750k per year and will reduce to a low of 7.5% once audited EBITDA is in excess of $1,100,000 per yearRequires no principal payments to be made until April 2021 and will be done in the form of an annual excess cash flow sweep.Includes a 2.55% annual royalty on clients acquired with the facility during the term of the loan, excluding the first year.Includes a 0.5% bonus on sale or change of control payment to be made to BDC Capital should the Company sell the business during the term of the loanIncludes a 1.5% processing fee of the value of the facility (as the funds are tranched) plus $100 a month financing management feeThe Company has also received approval from the Royal Bank of Canada (RBC), in cooperation with Export Development Canada (EDC), to increase the Company’s current revolving line of credit from $350,000 to a maximum of $1,600,000. The increase in the line
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RY
Earnings
- 12/3/25 - Beat
RY
Sec Filings
- 1/21/26 - Form 424B2
- 1/21/26 - Form 424B2
- 1/21/26 - Form 424B2
- RY's page on the SEC website