Capital That Powers Fiber Further

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Nº 004

Capital That Powers Fiber Further

Financing Breakdown

Risks

Halting a major government-backed construction project would trigger significant material, financial, and job losses.

Scenario

Scaling

Industry |

Communications

Key Challenges

Upfront capex with negative EBITDA

Grant funding timing risk

Need for ongoing equity raises

Loan Type

Government grant-backed working capital line

Outcomes

Runway Secured

The $5M line created a liquidity buffer that kept crews building and operations steady.

Claims Monetized

Approved grant costs were advanced quickly, making cash flow more predictable.

Community Impact

High-speed connections reached remote areas faster, helping local businesses and supporting regional growth.

Lender Type

Private Credit

Bank

Result |

Runway Secured

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Overview

Capital That Powers Fiber Further

Diamond Willow arranged a $5 million revolving working capital line secured by approved, submitted, and accrued grant-eligible expenditures.

The business focuses on rural communities and enterprises, delivering high-speed fiber that is reliable, scalable, and cost-effective. The rollout required a significant upfront investment, while grant reimbursements were delayed by 60 to 90 days, straining day-to-day operations. We obtained a structure that advanced against approved and accrued claims, acting as the bridge between invoices and government funding. It was a first-of-its-kind facility in Canada, keeping construction moving and cash predictable through the rollout.

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The Challenges

Heavy upfront capex with negative EBITDA.
Dependence on government grant funding cadence.
Ongoing equity raises to bridge cash flow gaps.

Risk Mitigants

Backing from a well-capitalized sponsor.
Rigorous grant due diligence and approval processes supporting claim reliability.

The Outcome

We obtained a government grant backed $5 million revolver, advancing against approved, submitted, and accrued eligible expenditures to keep construction moving and ensure runway through the build period.