Harland and Wolff has secured a £2m (€2.35m) asset backed term debt facility.
Funds raised will be used for working capital purposes, according to a statement from InfraStrata, the company which agreed to buy the Belfast shipyard last year.
The facility is for a period of two years, with the main amount repayable as a lump sum payment at the end of the period.
The loan carries a coupon of 13.2pc per year, payable in equal monthly instalments.
As a guarantee, the lender of the money has a first preference over the assets of Harland.
At the end of the duration of the loan, there will be an exit fee of 4pc payable to the lender.
Belfast-based Whiterock Capital Partners LLP advised Harland on the structuring of this facility.
In addition, the company has restructured £555,555 (€653,742) that remains outstanding, and was drawn down as the second tranche, of the £2.2m loan facility with Riverfort Global Opportunities PCC Limited and YA II PN.
InfraStrata will now no longer be required to make a lump sum of £555,555 on 14 February. Instead, a sum of £55,555 of the loan, plus fees and interest of £110,624.98, will be paid to the investors immediately, and the remaining £500,000 will be amortised over a period of 10 months commencing 31 March.
John Wood, interim chairman and CEO of InfraStrata, said: “The introduction of this asset-backed debt facility validates our thesis of leveraging physical assets and creating cashflow sources.
This has been possible due to the acquisition of Harland’s physical assets, something that we would not have been able to achieve with the company’s portfolio of intangible assets.”