Richmond Hill, Ontario, August 30, 2021 – EquityLine Mortgage Investment Corporation (MIC) is pleased to announce approval of a $25 million credit facility with a Canadian Schedule 1 bank. Through a new Special Purpose Vehicle, EquityLine MIC will manage qualified first and second mortgages enabling many more borrowers to access their home equity quick and efficiently. “This $25 million credit facility will go a long way in helping EquityLine MIC meet our goal of $300 million in assets under administration (AUM) by 2024. We are excited to be working with a Canadian Schedule 1 Bank and look forward to growing this relationship.” commented Sergiy Shchavyelyev, CEO, EquityLine MIC.
EquityLine Mortgage Investment Corporation is a Canadian mortgage investment corporation (MIC) incorporated under the laws of the Province of Ontario and located in Richmond Hill, Ontario. EquityLine MIC was founded in 2018 and is listed on the Jamaica Stock Exchange (www.jamstockex.com) under the symbol ELMIC.
For more information please contact:
EquityLine Mortgage Corporation
Sergiy Shchavyelyev, CEO