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Fundation Secures Credit Facility from MidCap Financial

March 22, 2017, 07:16 AM
Filed Under: Lender Finance
Related: MidCap Financial

Fundation Group LLC, a leading digitally-enabled lender and credit solutions provider, announced that it has secured an asset backed credit facility from MidCap Financial, a leading specialty finance firm focused on the middle market. This credit facility meaningfully enhances Fundation’s capacity to extend credit to small businesses across the United States.

Sam Graziano, CEO of Fundation said, “We are thrilled to add another world-class institutional investor to our capital base. Our new relationship with MidCap provides us with substantial new lending capacity and diversifies our funding sources, allowing us to strengthen our competitive position in the small business lending market.”

Fundation focuses on delivering credit to small businesses through various forms of strategic partnerships, including banks, other financial institutions, and various service providers to the small business market. Fundation currently has strategic partnerships with Regions Bank, Citizens Bank, the BancAlliance community, the Minority Business Development Agency and a host of other partners.

”We are excited to begin this new relationship with Fundation. Fundation has built an excellent business, with a unique approach to providing credit to small businesses. We look forward to continuing to grow and evolve our relationship with Fundation,” said Michael Cheng, Managing Director of MidCap Financial Services, LLC.

Fundation, majority-owned by New York based private equity firm Garrison Investment Group, retains the vast majority of loans that it originates on its balance sheet. In August 2016, Fundation secured a $100 million asset backed credit facility with Goldman Sachs Bank USA.

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