Fora Financial Secures New $200 Million Credit Facility, Expanding and Diversifying Capital Resources
Fora Financial, a leading provider of flexible financing to small- and medium-sized businesses (SMB) nationwide, today announced the closing of a two-year, $200 million revolving credit facility. ATLAS SP Partners ("ATLAS"), the warehouse finance and securitized products business majority owned by Apollo funds, will serve as senior lender for the credit facility, joined by TPG Angelo Gordon as participating lender. The new facility, in combination with the company’s third securitization that closed in September, will provide Fora Financial with over $325 million of senior financing capacity, expanding the company’s ability to provide timely access to capital for the SMB community.
"It has been a busy but extremely rewarding past 90 days at Fora Financial, having now closed a new warehouse facility after completing our third and largest ever securitization in August," said Andrew Gutman, Chief Operating Officer at Fora Financial. "These new financing arrangements represent yet another crucial milestone for the company on our mission to be the leading provider of flexible financing for small- and medium-sized businesses. Over the past two years, we’ve been focused on developing several key products, and this capital will help us fully realize their potential while continuing to serve as a trusted source of capital for the small business community."
"We are pleased to provide Fora Financial with additional capital," said Andrew Koepke, Director at ATLAS. "This partnership underscores our commitment to delivering meaningful financing solutions for our clients, and we are confident that the Fora Financial team, with their passionate leadership and proven track record, will continue to unlock new opportunities for small- and medium sized business owners everywhere."
"We are proud to support Fora Financial in its mission of providing capital to small- and medium-sized businesses nationwide," added Aaron Ong, Head of Private Asset-based Credit at TPG Angelo Gordon. "Fora's experienced leadership, proprietary technology platform and dedication to customer service make the company an ideal partner for TPG Angelo Gordon as we continue to create customized capital solutions for premier non-bank lenders."
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.
About ATLAS SP Partners
ATLAS SP is a global investment firm providing stable capital, financing, advisory and institutional products to market participants seeking innovative and bespoke structured credit and asset backed solutions. We’re proud to build upon a legacy of client excellence that includes certainty of execution, deep expertise and full-service capabilities across the asset management landscape. For more information, visit www.atlas-sp.com.
About TPG
TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $239 billion of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique strategy is driven by collaboration, innovation and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities. For more information, visit www.tpg.com.
