Fora Financial reaches landmark funding and customer milestone
The working capital solutions provider announced today that they achieved funding goal just shy of their 8th year in business.
Fora Financial, a provider of flexible working capital solutions to small businesses, announced today that it has reached the milestone of providing over $500 million of working capital to over 10,000 customers across the country. This landmark achievement was completed just shy of the company’s 8th anniversary.
Founded in 2008 by Jared Feldman and Dan Smith, the company prides itself on providing transparent lending services to small businesses looking to grow their operations. Their 10,000 customers span a wide range of industries, such as restaurants, retail stores, construction companies, wholesale businesses and many others.
“Providing half a billion dollars of capital to American small businesses is a tremendous accomplishment for Fora Financial and reflects the immense commitment, effort and support of our employees and stakeholders over the past eight years,” says Dan Smith, co-founder of Fora Financial. “Most of all, this achievement displays the faith our customers have in Fora Financial’s ability to provide them with the capital they need to drive their own business success. We are more committed than ever to providing our customers with the products and services that will help their businesses thrive.”
In addition, the company recently received a $52.5 million senior revolving credit facility. The deal agreement provides Fora Financial with financing over the next three years and allows for the expansion of the facility size to $75 million, nearly triple the company’s current borrowing capacity. This flexible, low cost financing will allow Fora Financial to continue expanding, while helping more small business owners pursue the working capital they need to succeed.
Over the past five years, the Company has grown annual originations by over 50 percent. With the announcement of their latest funding milestone, Fora Financial looks forward to continuing providing flexible working capital products to small business owners throughout the United States.
About Fora Financial
Fora Financial offers flexible financing solutions to small businesses in need of additional working capital to sustain or grow their enterprise. The company places a high value on transparency and provides businesses with fast, personalized small business loans and merchant cash advances, utilizing its state-of-the-art technology and unwavering customer service. Founded in June 2008, Fora Financial has over 120 employees in its New York City office locations.
Read the full press release on PRWeb.com here.