Fora Financial secures $200m credit facility to boost SMB funding capabilities

December 12, 2024

Fora Financial, a prominent provider of flexible financing solutions for small- and medium-sized businesses (SMBs) across the United States, has announced the closing of a new two-year revolving credit facility worth $200m.

The financing round was led by ATLAS SP Partners, the structured finance business majority owned by Apollo funds, acting as the senior lender. TPG Angelo Gordon joined as a participating lender, further diversifying the company’s capital resources.

Established in 2008, Fora Financial specialises in delivering fast, tailored funding options for SMBs through small business loans and revenue advances. These services are underpinned by the firm’s proprietary technology platform, which prioritises transparency and personalised customer support. The company has provided over $4bn in financing to more than 55,000 SMBs nationwide.

The $200m facility, combined with Fora Financial’s third and largest securitisation closed in September, significantly enhances its senior financing capacity to over $325m. This expanded capital base enables the company to better meet the urgent funding needs of SMBs and to support its ongoing product innovation initiatives.

Commenting on the achievement, Andrew Gutman, chief operating officer at Fora Financial, said, “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.

“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.”

Andrew Koepke, director at ATLAS SP Partners, added, “We are pleased to provide Fora Financial with additional capital. 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.”