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AloStar Capital Finance Agents $90MM Credit Facility for Forward Financing

April 09, 2019, 08:55 AM
Filed Under: Industry News

Forward Financing, a provider of technology-enabled alternative financing solutions for under-served small businesses, has closed on a $90 million credit facility, consisting of a $60 million senior revolving credit facility and a $30 million junior term loan. AloStar Capital Finance (AloStar), a division of Cadence Bank, N.A., served as the Agent on the senior facility. 

The proceeds will be used to refinance existing debt and will significantly increase Forward Financing's capacity to fund its small business customers. The facility provides Forward Financing with a substantially increased long-term capital base and a significantly lower cost of funds, allowing the company to accelerate its already impressive growth.   

"Partnering with AloStar is a transformative event for our company and helps further our mission to empower under-served small businesses," said Forward Financing Co-founder and CEO, Justin Bakes. "This facility will help us continue building on our rapid growth and allows us to expand our ability to offer fast, flexible, and reliable small business financing solutions using our innovative business model."

By combining proprietary technology with a dedicated team of small business financing experts, Forward Financing delivers same day funding of up to $300,000 with the speed and simplicity business owners in the U.S. need to succeed and grow. With an online application process that is simple, safe, and secure, businesses can trust Forward Financing for approvals within minutes, funding within hours, and personalized support and service when they need it most.

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