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Silicon Valley Bank Provides $100MM Warehouse Facility to Libertas Funding

July 16, 2021, 07:40 AM
Filed Under: FinTech

Libertas Funding, a technology-enabled specialty finance company that provides funding solutions to small and medium-sized businesses (SMB), entered into a warehouse financing agreement of up to $100 million with Silicon Valley Bank (SVB). This agreement provides financing to be used for Libertas' origination of revenue-based funding to enable SMBs to achieve their growth objectives.

Based in Greenwich, Connecticut, Libertas is a leader in revenue-based financing, having provided total funding approaching $1 billion to its customers since its inception in September 2016. Libertas was established to address the unique capital needs of SMBs-its fast, flexible funding solutions are designed to help SMBs solve the working capital challenges they often face and enable them to pursue growth opportunities. Companies seeking capital from Libertas can secure funding in as fast as 1-2 business days.

"We are excited to partner with Silicon Valley Bank, a true digital banking leader, whose commitment to customer service and integrity closely aligns with our core values," said Randy Saluck, the CEO of Libertas. 'Now, more than ever, small and medium-sized businesses need quick access to funding to meet their working capital requirements."

Since its inception, Libertas has taken a unique "hands-on" approach to funding by combining its efficient automated application system with a customer-focused process, providing customers guidance throughout the transaction. 'At Libertas, we recognize that every business is unique," Saluck said. "We talk to each of our SMB customers to understand their businesses and provide financing to meet their capital needs. Our partnership with SVB enables us to provide lower cost and more flexible financing solutions to help our clients reach their goals."

"As the economy recovers from the pandemic, supporting small businesses is as important as ever," said Nick Christian, Head of Specialty Finance at Silicon Valley Bank. "We're proud to provide this warehouse facility to Libertas as it continues to grow and help more small businesses succeed."

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