Forward Financing Announces $250 Million Credit Facility to Support Long-Term Growth
May 27, 2021 | Company News
May 27, 2021 – Forward Financing, a national provider of revenue-based financing to small businesses, announced that the company closed a $250 million credit facility led by one of the company’s current capital providers to support long-term growth.
Growth at Forward Financing
“This is a big win for our business and a testament to our very strong financial performance throughout this difficult past year,” said Eugene Wong, Vice President of Strategy and Finance. “The increased facility gives us the flexible capital we need to grow and expand, so that we can support the small business economy as it recovers on the other side of the COVID pandemic.”
Forward Financing provides working capital to underserved small businesses nationwide, many of which do not have the ability to obtain traditional financing, such as a bank loan. Dedicated to providing top notch customer service, Forward Financing was recently recognized by the American Business Awards for Best Customer Service Department of the Year. During the COVID-19 pandemic, Forward worked with thousands of customers to reduce or suspend their payments while they contended with government closure orders, capacity restrictions, and diminished customer traffic.
Recognition in 2021
Despite the challenges of 2020, the Boston Business Journal named Forward Financing to its annual list of the 50 fastest-growing private companies in Massachusettsfor the fifth consecutive year. Earlier this year, Forward announced it surpassed over $1 billion in funding to over 26,000 customers since its inception in 2012.
Forward Financing plans to use the latest funding to continue its strong revenue trajectory and support long-term growth plans. The company recently reported nearly 60% growth and is planning to double employee headcount in 2021.
About Forward Financing
Forward Financing is a Boston-based financial technology company that provides fast, flexible working capital to small businesses nationwide. Forward’s dedicated account representatives and advanced proprietary technology help customers spend less time finding capital and more time growing their businesses. With a simple online application, business owners can trust that Forward Financing works to get them approvals within minutes, funding within hours, and personalized support when they need it most.
The company is A+ rated by the Better Business Bureau and ‘Excellent / 4.9 stars’ on Trustpilot.com. Forward Financing was named a Best Place to Work by both the Boston Business Journal and Built In Boston, and has been named by both Inc. Magazine and the Boston Business Journal as one of Massachusetts’ fastest-growing companies each year since 2017. Forward Financing is committed to helping more small business owners succeed and achieve their full potential. To learn more, visit www.forwardfinancing.com.