CRSS - Crossroads Impact subsidiary draws $8M from the Treasury bond
2023-03-13 06:57:16 ET
- Capital Plus Financial, subsidiary of Crossroads Impact ( OTCQX:CRSS ) made the first draw of $8M from its $125M bond of the US Treasury Department's CDFI Bond Guarantee Program, dated Feb. 28.
- The cash proceeds will be used to refinance higher-priced leverage originally used to fund mortgages originated by the company.
- CPF was awarded the bond last year, one of three guarantees totaling $355M that the U.S. Treasury agreed to issue under the fiscal year 2022 round of the program.
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Crossroads Impact subsidiary draws $8M from the Treasury bond