🚀 $200M MoonPay Galaxy Deal: Crypto's Epic Revenue Surge

[5 Minutes Read] Plus, How JPalmer's Focus on Female Founders Is Finding Hidden Gold

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Bridge Loan Guy
April 01, 2025

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Good Morning Everyone

Welcome to your weekly CRE market update. We're breaking down the biggest deals and revealing the lending criteria that's driving them.

🏢 Top Domestic & Global Deals
🔦 Deal Spotlights
👤 Lender Profiles
🤝 Opportunities (Brokers, Lenders, Developers, Investors, and RE Agents)
📝 New Loan Programs

Let’s dive in.

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If you want insights on top Growth Cap and ABL active lenders and opportunities for your next deal.

Bridge Loan Guy
Top Loans of the Week

Largest US single deal: 3650 Capital's $215 million capital raise from CalSTRS and Mubadala

Largest Global single deal: Yara's $1.4 billion multicurrency revolving credit facility from international lending consortium led by BNP Paribas, Citi, Danske Bank, and Banco Santander.

Lender of the Week: While not having the highest loan amount, JPalmer is the most intriguing. By committing over 50% of their portfolio to women-owned and women-led companies, they're systematically addressing a significant market inefficiency while delivering competitive returns.

Sectors financed: Commercial real estate, wireless infrastructure, cryptocurrency services, specialty spirits productions, data centers, oil & gas, transportation, healthcare, housewares, manufacturing

Lenders: CalSTRS, Mubadala, First Citizens Bank, CIBC, Third Coast Bank, Post Road Group, Boundary Street Capital, Galaxy, Eclipse Business Capital, IDB Bank, Clarus Capital, TAB Bank, InterNex Capital, SLR Credit Solutions, Monroe Capital, InvestBev Credit, First Bank, Aequum Capital, SLR Healthcare ABL, First Business Bank, JPalmer, Amerisource, Versant Funding, nFusion Capital, BNP Paribas, Citi, Danske Bank, Banco Santander, Crédit Agricole, State Bank of India, Commerzbank, Deutsche Bank, Pollen Street Capital, MSEC, NaBFID, and National Bank of Canada

TOP DEALS


$200M Crypto Liquidity Backbone into MoonPay
MoonPay secures a massive $200 million revolving facility from Galaxy, transforming how digital asset companies access institutional capital. With MoonPay's revenue soaring 112% year-over-year, it's rocket fuel for a company that's rapidly redefining the crypto payments landscape through strategic acquisitions and infrastructure expansion. Read

InvestBev's $50M Barrel Banking Partnership with Lofted Spirits
InvestBev Credit earmarks $50 million for aging whiskey barrels, turning time itself into immediate capital. This innovative partnership allows craft distillers to monetize their aging inventory without rushing the whiskey —transforming how independent spirits brands fund growth while maintaining product quality. Read

SLR's $8M Healthcare Lifeline for Senior Living Operator
SLR Healthcare ABL extends an $8 million lifeline to a regional healthcare provider operating 30+ skilled nursing facilities during challenging times. Beyond refinancing debt, this specialized facility injects crucial working capital into an essential service provider. Read

Global Market Spotlight
Yara's Billion-Dollar Banking Ballet 
Norwegian crop nutrition leader Yara secured a $1.4 billion facility with 11 international banks through 2030, supporting their green fertilizer initiatives and sustainable food solutions while replacing their expiring credit facility. Read

BluPine Energy's Multi-State Clean Energy Portfolio
BluPine Energy closed a INR 1,787 crore deal with NaBFID, leveraging 14 SPVs across three Indian states to optimize their financial structure while expanding their clean energy portfolio and operational efficiency. Read

Emerging Trend
Firms like JPalmer Collective are disrupting traditional lending models by specifically targeting women-led businesses and sustainability-focused ventures. With JPalmer recently securing a $72 million institutional capital commitment, the market is recognizing both the impact potential and financial opportunity in addressing historical funding disparities.

DEAL SPOTLIGHTS

$200M Digital Asset Liquidity Engine
◾ Loan Amount: $200 million
◾ Structure: Revolving credit facility
◾ Interest Rate: Likely SOFR + 500-700 bps*
◾ Loan Term: 3 years with extension options*
◾ Industry: Cryptocurrency financial infrastructure
◾ Borrower Profile: MoonPay, a growth-stage fintech with 112% year-over-year revenue growth
*Estimate based on comparable facilities

$50M Whiskey Time Machine
◾ Loan Amount: $50 million reserved capacity
◾ Advance Rate: Likely 50-65% on barrel value*
◾ Interest Rate: Estimated 8-10%*
◾ Loan Term: Aligned with aging cycles (2-8 years)*
◾ Industry: Craft spirits production
◾ Borrower Profile: Independent distilleries partnering with Lofted Custom Spirits
*Estimate based on specialty inventory financing standards.

Yara's $1.4B Syndicated Facility
◾ Loan Amount: $1.4 billion
◾ Interest Rate: SOFR + 150 bps (estimated based on investment-grade corporate spreads)*
◾ Loan Term: 5 years (to 2030), extendable to 7 years (to 2032)
◾ Industry: Agricultural Technology/Green Chemistry
◾ Borrower Profile: Global leader in crop nutrition with 18,000 employees and operations in 60+ countries
◾ Unique Feature: Multicurrency structure with 11-bank syndicate demonstrates exceptional market confidence

What we are hearing

◾ Banks Retreat, Specialists Conquer-As traditional lenders exit complicated sectors, specialized asset-based lenders with surgical expertise are stepping in to claim the crown.
◾ Female Finance Revolution-JPalmer's female-focused lending strategy is proving that addressing historical funding gaps isn't just socially conscious—it's discovering an untapped goldmine of opportunity.
◾ Climate Credit Gold Rush-Goldman's billion-dollar climate credit play reveals a massive imbalance between green equity and debt solutions, creating an El Dorado for sustainability-savvy lenders.

LENDER PROFILES

Profile A: Female Financial Firm Funding the Future
Focus: Asset-based lending for women-led businesses and sustainable brands
Interest Rate: Prime + 300-500 bps with performance-based step-downs
Geographic Scope: National, emphasis on consumer products
Deal Size: $2M-$20M revolving facilities
Minimum Revenue: $5M-$100M annual revenue sweet spot
Industries: Consumer packaged goods, natural products, sustainability leaders
Deal Structures: Flexible ABL revolvers designed for seasonal businesses
Key Differentiator: White-glove consultative approach that goes beyond capital

Profile B: European Growth Capital Syndicator
Focus: Orchestrating large-scale syndicated growth facilities for established global enterprises with compelling expansion narratives.
Deal Size Sweet Spot: €500M-€2B+
Interest Rates: SOFR/EURIBOR + 150-300 bps (tiered by credit quality, sustainability metrics, and facility structure)*
Geographic Scope: Global, experience across Europe, North America, and APAC
Minimum Criteria: €500M+ Annual Revenue, Investment-grade credit rating (BBB- or higher preferred), 3-year operating history with positive EBITDA
Types: Revolving Credit Facilities, Sustainability-Linked Term Loans, and Green Bonds and Sustainability-Linked Bonds

Need a better offer for your deal?
Email [email protected] and get 1-2 lender introductions.

💡 OPPORTUNITIES

  1. Brokers 
    ◾ Proactively identify healthcare systems with debt-to-EBITDA ratios exceeding 4.0x and approach their CFOs with sale-leaseback proposals for ambulatory surgery centers and medical office buildings before they hit the broader market.
    Referral Partners: Healthcare consultants who advise systems on operational efficiency.

  2. Family Offices
    ◾ Build an integrated urban mobility platform by targeting companies in the evolving transportation ecosystem.
    Referral Partners: Commercial real estate developers focused on mixed-use urban projects are perfect intelligence sources – they're planning mobility hubs and transportation solutions years before they become public knowledge

Growth Cap/ABL 101

Term: Barrel Inventory Financing
Definition: A financial innovation that transforms aging whiskey into immediate capital by using barrels as collateral. With advance rates of 50-65% against projected mature value, this structure gives craft distillers the runway to properly age their spirits while funding growth—essentially monetizing time itself as an asset class.

😲 DIDN’T SEE THAT ONE COMING

◾ JPMorgan Gets Schooled: Bank Loses $175M to Student Loan Startup in Most Expensive Education Since Harvard Read
◾ 23andMe Swabs Its Own Cheek, Finds Out It's 100% Bankrupt Read
◾ Indoor Farming Company Plenty Goes Broke, Turns Out Money Doesn't Grow on Plants Either Read
◾ Developer Sues Bank That Won't Take Apartment Keys, Says Relationship Status is 'It's Complicated Read
◾ Flash Loan Attack Steals 'Magic Internet Money,' Proving the Only Real Magic is Disappearing with Someone Else's Millions Read
◾ Landlord Shocked to Learn Newspaper Can't Pay Rent, Files Lawsuit Printed on Actual Newspaper's Last Edition Read

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Lastly, no content provided by Bridge Loan Guy or Loans, Lenders & Leverage should be considered tax, investing, or financial advice. This email and any other content we provide are for entertainment and education purposes only. We do not claim to provide tax, investment, financial, or other legal advice. Any content provided by Bridge Loan Guy or Loans, Lenders & Leverage is the personal opinion of our owners and/or staff – you should always conduct your own research