February 21, 2020

Fora Financial Names Andrew Gutman the Company’s New President

Since joining Fora Financial in March 2014, Gutman has played a key part in guiding the company through a period of growth and accomplishment. During his tenure as CFO, Gutman has led the continuous improvement in the company’s financial processes and the expansion of its senior financing arrangements, including completing its inaugural asset backed securitization in November 2019. In addition to his finance responsibilities, Gutman has been instrumental in driving cross-functional initiatives that have helped Fora Financial quintuple annual originations to over $400 million, driving operational efficiency and data-driven decision making across the business, building a performance-based culture, and mentoring the company’s junior management team.  As Gutman assumes the role of President, Fora Financial’s co-founders, Jared Feldman and Dan Smith, will maintain their roles on the company’s Board of Directors and both will remain actively involved in supporting the company’s strategic initiatives. Feldman and Smith will serve as advisors to Gutman and the management team.  “Andrew’s promotion to President of Fora Financial recognizes his leadership and many contributions across all areas of the business since joining the company six years ago,” said Smith. “Jared and I look forward to the next phase of Fora Financial’s success under Andrew’s direction, and we will work closely with him and the rest of the Board to set the vision for the company’s continued growth and evolution.” “This is an exciting time for everyone at Fora Financial,” added Feldman. “We have the flexible capital structure, scalable platform, and deep industry experience in place to accelerate our company’s growth trajectory. Most importantly, we have dedicated and talented employees and an experienced management team that we are confident will flourish under Andrew in his new role.” Gutman brings over 25 years of experience in the financial services industry to his role as President of Fora Financial, including more than 12 years in small business and consumer lending. Prior to joining Fora Financial, Gutman held a variety of financial management roles at American Express, Thomson Reuters, Travelex, and CAN Capital. Gutman received his Bachelor’s degree from the University of Maryland and a Master of Business Administration with a concentration in Finance from New York University’s Leonard N. Stern School of Business. About Fora Financial Founded in June 2008, 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 business loans and merchant cash advances, utilizing its state-of-the-art technology and unwavering customer service. In 2018, Fora Financial acquired a significant stake in US Business Funding, creating one the largest and broadest reaching organizations in the alternative SME lending space. The combined company has provided more than $1.8 billion of financing to small business owners and now employs over 170 people at its New York City, California, and Arizona locations. For more information on Fora Financial, please visit the Company’s website. Follow them on Twitter and Facebook.