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Ares Management Provides Senior Credit Facility to ForwardLine Financial

January 06, 2021, 07:26 AM
Filed Under: Lender Finance
Related: Ares Management

ForwardLine Financial has secured a new senior credit facility from funds managed by the Alternative Credit strategy of Ares Management. As part of this announcement, the company also shared that it has raised additional capital from Five Oceans Capital, a long-term investor in the company.

ForwardLine’s CEO, Steve Carlson, states, “We are excited to be able to continue helping our customers obtain the capital they need, especially during these challenging times. Throughout 2020, we have worked with our current customers to assist them in successfully navigating through the Covid crisis and we are thrilled to be partnering with Ares and Five Oceans during this next chapter of ForwardLine’s growth.”

“We look forward to working with ForwardLine,” said Jeffrey Kramer, Partner in Alternative Credit at Ares. “This investment is demonstrative of our belief in the resiliency of small businesses in America, and we will continue to seek opportunities to support a healthy financing market for small businesses.”

The credit facility will be used to support ForwardLine’s overall mission of improving the financial health of America’s small businesses. Since 2003, ForwardLine has provided more than 14,000 small business owners, a key driver of the economy, with the working capital needed to realize their dreams. In addition to securing the additional capital, ForwardLine has also invested heavily over the past 12 months in further upgrading its technology platform to better serve both existing and new customers.

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