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Investment firm awaits regulatory approval of new capital-raising tool: sales of mortgage-backed securities
Bando McGlocklin Capital Corp. hopes to raise at least $20 million, possibly by going public with a mortgage-backed real estate investment trust, as it pursues a restructuring that is expected to dramatically change the Brookfield company.
But first, sometime within the next 90 days, shareholders will consider plans for a holding company that would oversee the small-business investment company and other capital-raising entities Bando McGlocklin plans to unveil.
"What we're going to do will allow us to securitize our loan portfolio," said George Schonath, president. "This is a whole …