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Cloverhill Acquires Patch of Land and Invests Significant Growth Capital

Jul 28, 2021

SHERMAN OAKS, Calif. - July 28, 2021 - (Newswire.com) Patch Funding LLC ("Patch Funding" or the "Company"), formerly known as Patch of Land, the pre-eminent residential business purpose real estate lender, announced today a strategic asset-backed capital raise and an infusion of growth capital allowing the Company to expand its business and origination capabilities significantly. Cloverhill Funding LLC ("Cloverhill") acquired the assets of Patch of Land and invested significant growth capital to further fuel growth for the newly rebranded Company. The investment comes at a time of skyrocketing new housing demand in the wake of stay-at-home orders and a new work-from-home trend. In addition to the equity investment, Cloverhill announced the arrangement of a funding facility for Patch Funding allowing it to fund loans efficiently and cost effectively, thereby providing greater service to its borrowers. The added lending capacity provided by the facility will allow Patch Funding to aggressively capture market share and continue targeted expansion. "Cloverhill is a strong believer in the continued growth of the residential business purpose lending market as well as the U.S. housing market. The ability to invest in a platform like Patch of Land, given its strong relationships with borrowers and brokers and its proprietary technologies, gives us a great foothold into the sector," said Teddy Wasserman, head of the Board of Advisors for Cloverhill.  "We hope that the large capital backing of Cloverhill will allow the management team to take the Company to the next level." According to the National Association of Realtors, home values have increased by 24.4% over the past 12 months, with the supply dropping to just 2.5 months at the current sales pace. Stay-at-home work and continued population growth along with attractive home-lending markets have seen demand from buyers soar while the supply shortage has only increased due to construction costs and product availability. "Cloverhill fundamentally understands the team's strengths and provides the optimal partnership to have Patch Funding become an institutional originator," declared Jason Fritton, co-founder and CEO of Patch of Land. "They saw what we were trying to build since founding Patch of Land in 2013, and we could not have asked for a better suitor to carry on the legacy of the company," stated Carlo Tabibi, co-founder and former CEO. "I am thrilled to have seen the full life cycle of the company I started and am excited to see Cloverhill take the business to the next level with the current management," said Brian Fritton, co-founder and former CTO. Patch Funding will continue to work with its vast borrower network to provide more attractive financing products and will also continue to work with institutional capital partners who have been recurring buyers of the Company's originations. Working under the Cloverhill ecosystem is expected to accelerate all aspects of Patch Funding's business. Media Contact: Robert Greenberg press@patchofland.com Press Release Service by Newswire.com Original Source: Cloverhill Acquires Patch of Land and Invests Significant Growth Capital

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Heal the Earth Foundation and Miami Blues Band Have Joined Forces to Help the People of Cuba

Jul 28, 2021

A series of South Florida concerts hosted by Heal the Earth & Miami Blues Band will raise awareness and much-needed capital to help send supplies and medicine to Cuba. MIAMI - July 28, 2021 - (Newswire.com) This past weekend, on Friday July 23, Heal the Earth started their concert series, "Rx for Cuba," featuring the iconic big band Miami Blues Band. The band, along with Heal the Earth Foundation, is a non-profit with a current mission to raise money and awareness for special causes that benefit the lives of people around the world. With the recent news about Cuba and their dire need of supplies, Heal the Earth is dedicating a series of free concerts around South Florida, to increase awareness of the desperate plight that Cubans are facing today. Donations raised will be used for the purchase of medicine to send over to Cuba. Heal the Earth and Miami Blues Band, kicked off the first concert series at Calle Ocho in Miami. Calle Ocho is the well known and beloved strip located in the heart of Little Havana, a vibrant neighborhood home to many Cubans in Miami. The tour continued with their second show at Titanic Brewery in Coral Gables. From two shows, has already raised enough money to purchase much needed supplies and medicines to send to Cuba. Heal the Earth is hoping to be able to send medicine to Cuba as often as possible until the country's medical supplies and economy improve. As reported by Reuters, "Even as Cuba is leading the race to become the first country in Latin America to develop its own COVID-19 vaccine, the country is suffering acute shortages of basic medicines amid its worst economic crisis in decades." A guest from Saturday night's show, Katherine DeFranco, traveled two hours to be at the event and make a donation. She said, "It is great to be able to contribute to this fundraising effort. I know the money is all going to help the people of Cuba." Kristen Carranza, the Associate Director for Heal the Earth said today, "I am very pleased with the fundraising capital so far. It is so important to get awareness and help the plight of the people of Cuba as soon as possible and I'm glad we are involved., please come out and support and join us." More chances to support Heal the Earth in their "Rx for Cuba" tour start again in August. Catch the Miami Blues Band perform for this effort on August 5th at Bay 13 Brewery in Coral Gables, August 6th at Shipwreckers Bar in Fort Lauderdale, and August 20th at Kelly Brothers Irish Pub in Fort Lauderdale. For additional information, visit healtheearth.us and follow @healtheearthfoundation on Instagram. Press Release Service by Newswire.com Original Source: Heal the Earth Foundation and Miami Blues Band Have Joined Forces to Help the People of Cuba

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Meritech to Sponsor Upcoming Food Safety Magazine Webinar "Building a Comprehensive Food Safety Plan"

Jul 28, 2021

Golden, Colorado Jul 28, 2021 (Issuewire.com) - Meritech, the manufacturer of CleanTech® Automated Handwashing Stations sponsors an upcoming webinar "Building a Comprehensive Food Safety Plan" to take place on August 3rd 2021 at 2 pm EST. This webinar presented by Food Safety Magazine is ideal for food manufacturers with an obligation to protect their customers and consumers from hazards that can result in injury or illness.  "We are excited to sponsor this webinar from Food Safety Magazine about this trending topic in the food manufacturing and packaging space," says Will Eaton, VP of Sales and Marketing at Meritech. "We have created tons of resources, including the Employee Hygiene Toolbox to help educate on the importance of creating a food safety plan. Plus our CleanTech® Automated Handwashing Stations make building this comprehensive hygiene process easy at any facility."  Food manufacturers have an obligation to protect customers and consumers from hazards that can result in injury or illness. But how does a food processing company ensure that the food safety plan can be effectively implemented, is enforceable, and still allows for food production efficiency? This food safety webinar will go over exactly how to build a comprehensive food safety plan that will reduce the potential for hazards, protect consumers, conform to regulatory expectations by the FDA and USDA and safeguard your brand from costly food recalls.  Register to view the food safety webinar on-demand at: https://onlinexperiences.com/scripts/Server.nxp?LASCmd=AI:4;F:QS!10100&ShowUUID=46188A4F-1417-4688-B98E-7033C2A5B508 Media ContactMeritechPRESS@MERITECH.COM+1 800-932-7707720 Corporate Circle Suite Khttps://www.meritech.com/ Source :Meritech This article was originally published by IssueWire. Read the original article here.

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