Business - Willian's Weaving Industries Ltd.

In 2012, purchased factory facility in Surrey for $6 million ($2 million down payment)

Jefferson Bank gave a 5-year fixed rate mortgage for $4 million - registered on April 30, 2012

Purchased new manufacturing equipment for new facility (cost = $2.0 million)

Financed by Kalindi Credit Union - registered security over 6 specific pieces of manufacturing equipment - financing statement registered for period of 10 years on February 1, 2017

Assessed value of facility increased to $9 million in 2019 so company decided to unlock some of the equity in the property to upgrade the facility.

Arshpreet Financial provided a loan of $2 million and took out a mortgage on the facility registered on May 31, 2019.

Financed a new fleet of delivery trucks at a cost of $500,000

Amy Credit Union provided financing

Loan agreement signed on June 15, 2019

Financing statement prepared on same day but misplaced by careless lawyer

Financing statement filed on August 15, 2019

Company did a large upgrade of its facilities including office facilities (desks, computers, etc), staff lounge, boardroom, and manufacturing equipment that needed to be replaced.

Borrowed $1.8 million from Ariana Bank of Commerce secured by a GSA.

Loan agreement signed on July 25, 2019

financing statement registered on July 31, 2019

Business bought a new state-of-the-art weaving production unit for $2.2 million.Financed the entire unit with the Tifi Bank of Canada (TBC).

Contract signed on July 15, 2019

New weaving unit delivered on July 30, 2019

Financing statement registered on August 12, 2019