Fora Financial Achieves Originations Milestone
Fora Financial, a leading provider of flexible financing to small- and medium-sized businesses nationwide, announced a new record for single-quarter funding originations. The company reports a 30 percent increase in Q1 2024 over Q1 2023 in overall funding volume, making this the strongest quarter in the firm's nearly 16-year history.
"Fora Financial is proud to chart such an important milestone," says CEO and co-founder Jared Feldman. "It's just further proof of how we are meeting and exceeding our commitment to helping America's small businesses negotiate an up-and-down economy and continue to thrive."
In citing reasons for this growth, Feldman praises Fora Financial's expert staff across all departments: "We're leveraging cutting-edge underwriting technology and data-driven insights every day, to provide each of our business owners personalized, one-on-one service."
Additionally, he adds, "As banks implement stricter lending criteria, Fora Financial is seeing more demand from businesses who may typically work with those traditional institutions." As a result of the market, the firm has increased its average funding amounts and terms YOY by more than 10 percent.
For more information, please contact Elissa Feldman 212-947-1000, at Fora Financial.
About Fora Financial
Founded in 2008, Fora Financial has provided more than $4.0 billion of financing to more than 55,000 small business owners. It offers fast, personalized small business loans and revenue advances, supported by its proprietary technology platform, one-on-one customer service, and total transactional transparency. The firm employs more than 150 people at its New York headquarters and Miami office.
