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Waterfall Asset Management Supports Fintech Fundation Group

January 22, 2018, 07:33 AM
Filed Under: Legal Finance

Fundation Group LLC, a digitally-enabled lender and credit solutions provider, today announced that it has closed a new subordinated debt facility with Waterfall Asset Management, a specialty finance firm and specialist credit advisor, which increases the capital capacity that Fundation already maintains with Goldman Sachs Bank USA and MidCap Financial. The expansion of this credit facility increases Fundation’s capability 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 Waterfall provides us with additional 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 distinct approach to providing credit to small businesses. We look forward to the possibility of continuing to grow and evolve our relationship with Fundation,” said James Hwang, Vice President of Waterfall Asset Management.

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 an asset backed credit facility with Goldman Sachs Bank USA and an additional asset backed facility in March 2017 from MidCap Financial.

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