SALT Lending (“SALT”), a pioneer in bitcoin-collateralized credit, today announced the execution of a Letter of Intent (LOI) with GolfSuites 1 Inc. (GolfSuites) and its sister company ERC Communities 1 Inc (ERC). Under the LOI, SALT intends to provide BTC-backed financing for an estimated $105 million in senior secured credit facilities, including $35 million for GolfSuites’ golf-entertainment expansion and $70 million for ERC’s build-to-rent manufactured-home communities.
Proceeds will fund new GolfSuites’ outdoor driving-range venues and indoor simulator “City Clubs,” retire select legacy debt, and complete ERC’s 268-unit Zephyrhills, FL rental-home development.
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The project will offer five-year GolfSuites 1 and ERC Communities 1 notes that will carry an attractive annual coupon with interest to be paid monthly over the 5-year term.
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Bitcoin holders will be able to leverage an over-collateralized structure designed to protect all stakeholders and gain access to the associated investment opportunity.
“Our model is a three-lane highway: real-estate capital flows to builders, Bitcoin stays on balance sheets compounding, and lenders collect predictable returns—all moving in the same direction,” said Shawn Owen, Founder & CEO of SALT Lending. “This agreement showcases how bitcoin can unlock growth in mainstream industries like golf entertainment and attainable housing.”
Gerald Ellenburg, Chairman & CEO of GolfSuites 1 and ERC 1, added: “This is a very important transaction for our companies. SALT’s innovative structure gives us the runway to build multiple new GolfSuites 1 venues and complete our flagship ERC Communities 1 projects while offering attractive, yield-enhanced paper for investors.”
About GolfSuites 1
GolfSuites 1 (founded 2016) operates golf-centric entertainment venues that combine outdoor driving ranges, indoor simulators, dining and coaching. Current sites include Lubbock, TX and Baton Rouge, LA, with Auburn University, AL and Madison, MS under development.
About ERC Communities 1
ERC Communities 1 develops and manages build-for-rent manufactured-home neighborhoods that address America’s affordable-housing shortage. The first 184-home community in Zephyrhills, FL is breaking ground in 2025.
About SALT Lending
Founded in 2016 and headquartered in Denver, SALT Lending is the pioneer of crypto-backed lending. SALT’s mission is to build and enable simple, familiar and novel crypto financial products that increase access to financial opportunities and give consumers more control over their ability to generate long-term wealth.
SALT’s crypto lending products enable its users to seamlessly access credit against their crypto portfolios – while the Company’s B2B Embedded Crypto Lending Service enables third-party platforms to offer these products to their users. For more information, visit www.saltlending.com or follow us on X and LinkedIn.
About Chris Champion and Champion Capital
Chris Champion, a.k.a. Chris Sweis, is an advisor to SALT Lending and Gerald Ellenburg and the entities known as Golf Suites 1 and ERC Communities 1. He has been instrumental in architecting this new commercial note vehicle staked by bitcoin.
Important Please Read
Forward-Looking Statements – This press release contains statements of intent and projections subject to due-diligence, definitive documentation and regulatory approval. Actual results may
differ materially.
