SALT Lending (“SALT”), a pioneer in bitcoin-collateralized credit score, right now introduced the execution of a Letter of Intent (LOI) with GolfSuites 1 Inc. (GolfSuites) and its sister firm ERC Communities 1 Inc (ERC). Beneath the LOI, SALT intends to supply BTC-backed financing for an estimated $105 million in senior secured credit score services, together with $35 million for GolfSuites’ golf-entertainment enlargement and $70 million for ERC’s build-to-rent manufactured-home communities.
Proceeds will fund new GolfSuites’ out of doors driving-range venues and indoor simulator “Metropolis Golf equipment,” retire choose legacy debt, and full ERC’s 268-unit Zephyrhills, FL rental-home improvement.
The challenge will provide five-year GolfSuites 1 and ERC Communities 1 notes that can carry a sexy annual coupon with curiosity to be paid month-to-month over the 5-year time period.
Bitcoin holders will be capable to leverage an over-collateralized construction designed to guard all stakeholders and acquire entry to the related funding alternative.
“Our mannequin is a three-lane freeway: real-estate capital flows to builders, Bitcoin stays on steadiness sheets compounding, and lenders accumulate predictable returns—all shifting in the identical course,” mentioned Shawn Owen, Founder & CEO of SALT Lending. “This settlement showcases how bitcoin can unlock development in mainstream industries like golf leisure and attainable housing.”
Gerald Ellenburg, Chairman & CEO of GolfSuites 1 and ERC 1, added: “It is a essential transaction for our firms. SALT’s progressive construction provides us the runway to construct a number of new GolfSuites 1 venues and full our flagship ERC Communities 1 tasks whereas providing enticing, yield-enhanced paper for traders.”
About GolfSuites 1
GolfSuites 1 (based 2016) operates golf-centric leisure venues that mix out of doors driving ranges, indoor simulators, eating and training. Present websites embrace Lubbock, TX and Baton Rouge, LA, with Auburn College, AL and Madison, MS below improvement.
About ERC Communities 1
ERC Communities 1 develops and manages build-for-rent manufactured-home neighborhoods that handle America’s affordable-housing scarcity. The primary 184-home group in Zephyrhills, FL is breaking floor in 2025.
About SALT Lending
Based in 2016 and headquartered in Denver, SALT Lending is the pioneer of crypto-backed lending. SALT’s mission is to construct and allow easy, acquainted and novel crypto monetary merchandise that enhance entry to monetary alternatives and provides customers extra management over their potential to generate long-term wealth.
SALT’s crypto lending merchandise allow its customers to seamlessly entry credit score towards their crypto portfolios – whereas the Firm’s B2B Embedded Crypto Lending Service allows third-party platforms to supply these merchandise to their customers. For extra info, go to www.saltlending.com or observe us on X and LinkedIn.
About Chris Champion and Champion Capital
Chris Champion, a.ok.a. Chris Sweis, is an advisor to SALT Lending and Gerald Ellenburg and the entities referred to as Golf Suites 1 and ERC Communities 1. He has been instrumental in architecting this new business be aware car staked by bitcoin.
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Ahead-Trying Statements – This press launch incorporates statements of intent and projections topic to due-diligence, definitive documentation and regulatory approval. Precise outcomes could
differ materially.
