Market Overview

CrowdOut Capital Provides Multi-Million Dollar Term Loan to Shale Support to Fund Expansion

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Term loan helps finance growth capital expenditures at two sand mines
owned by OFS Energy Fund-backed frac sand provider

CrowdOut
Capital LLC
, a pioneer in non-bank private lending for growing
middle market companies, today announced the completion of a
multi-million dollar term loan to Shale Support, a leading provider of
frac sand and logistical solutions to the oil and gas proppant market.
The proceeds will support the acquisition of two sand mines, spanning
over 1,000 acres that contain more than 100 million tons of recoverable
high-grade frac sand, which are located near the prolific shale plays in
the southeastern U.S., and finance capital expenditures to increase
production capacity at the sand mines.

"The frac sand business is growing quickly and we needed a partner that
could be nimble and help us to keep pace with market demand," said Jeff
Bartlam, Co-Founder and President of Shale Support. "CrowdOut provided
the flexibility and efficiency that rigid traditional lenders could not."

Backed by OFS Energy Fund, Shale Support operates an extensive mining
and transload network strategically aligned with key destination
terminals that serve Texas, Oklahoma, Mississippi, Louisiana, Ohio and
Pennsylvania regions. Shale Support provides to operators and
third-party suppliers its proprietary Delta
Pearl
proppant, an industry-leading proppant known for its low
turbidity or cleanliness.

"We are seeing more companies like Shale Support seek out non-bank
financing solutions, especially in the energy and oil & gas space," said
Alexander Schoenbaum, CEO of CrowdOut Capital. "Our flexible structures
and collaborative approach to underwriting loans is a unique value
proposition over banks and traditional credit funds."

CrowdOut provides term loans to middle market companies with annual
revenues between $10 million - $500 million that seek to expand, acquire
or grow. Companies rely on CrowdOut to help reduce lending costs by
streamlining the process, shortening the duration and drastically
reducing fees/expenses which is in stark contrast to traditional
financial institutions. CrowdOut's underwriting includes extensive due
diligence including proprietary screening and data analytics. Once
approved, the loan posts on its online marketplace for direct investment
by qualified investors, an investment category that never existed until
CrowdOut. With this deal, CrowdOut has originated over $135mm in loans.

CrowdOut provided the debt financing along with Encina Equipment
Finance. CrowdOut served as the Administrative Agent and Encina
Equipment Finance served as the Collateral Agent.

About Shale Support

Shale
Support, LLC
is a provider of logistical services and frac-sand or
"proppant" products to enhance the recovery rates of hydrocarbon
products from natural gas and crude oil wells. With headquarters in
Picayune, Mississippi, the company operates an extensive mining and
transload network strategically aligned with key destination terminals
that serve the Marcellus, Utica, Haynesville, Tuscaloosa, Mid-Con,
Permian and Eagle Ford Shale Basins. With the logistic flexibility to
ship proppant via rail, road and barge, Shale Support's network boasts
more than 100 million tons of frac-sand reserves within its mining
properties.

About CrowdOut

CrowdOut is a private lending syndication platform that offers
profitable, middle market and lower middle market companies a better way
to raise capital. Its online marketplace provides companies seeking
capital lending while offering family offices, institutions and
qualified investors the opportunity to invest in private lending on a
deal-by-deal basis. CrowdOut has originated more than $135 million of
loans since its founding in 2015. To learn more, please visit www.crowdout.com.

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