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Flock Specialty Finance Provides $30MM to Cherokee Funding

June 10, 2015, 07:11 AM
Filed Under: Lender Finance

FLOCK Specialty Finance is a leading specialty finance company that provides capital for businesses in the subprime consumer finance markets as well as for debt buyers of distressed and subprime consumer credit obligations. The announced agreement will allow Cherokee Funding to continue its growth into the under-served and growing market of personal injury plaintiffs with hardships pursuing claims.

The closing of the securitized joint venture agreement provides Cherokee Funding with a $30 million funding capability. This funding capability will allow Cherokee Funding to continue its growth and help meet the under-served medical and financial needs of personal injury clients experiencing hardships to pursue a claim.

“Cherokee Funding is proud to team up with FLOCK to continue developing our world class customer service model for attorneys, doctors and plaintiffs. FLOCK understands our mission of helping clients receive the best medical care and financial support so that they can pursue their case to the end. In the interim, we even the playing field with insurance companies by helping personal injury clients manage financial hardship with dignity," said Cherokee Funding Co-founder and Managing Partner Reid M. Zeising.

Zeising along with Christopher J. Conefry, founded the company in 2011 to help plaintiffs’ secure necessary medical treatment and cash advances. Cash advances are often available in as little as 24 hours and Cherokee's medical network is unparalleled in the Southeast.

"The Cherokee team, led by Reid Zeising, brings decades of direct experience, and we believe their organization is well positioned to be one of the leaders in this under-served and growing market,” said Michael Flock, Chairman & CEO of FLOCK. “We are very excited to continue Cherokee Funding's growth with the support of FLOCK," said Reid M. Zeising "Their expertise within the specialty finance industry, will better position Cherokee to grow so that we can continue to meet the needs of all of our constituents."

FLOCK is dedicated to alternative investing in a variety of specialty finance segments. The focus is on businesses that have been under-served by traditional financial services. FLOCK has the knowledge to mitigate the risks associated with the under-served markets and asset classes. Knowing how to mitigate the risk enables funding when traditional banks have demonstrated an unwillingness to extend credit.

Cherokee Funding LLC is the premier legal and medical finance company headquartered in Atlanta, GA, with regional offices in Beaufort, SC. The company provides medical and non-recourse funding to plaintiffs in personal injury cases.

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