Boston-based Fintech Company Accesses Additional Capital to Support Continued Growth
Forward Financing, a national provider of revenue-based financing to small businesses, announced that the company increased their existing $250 million credit facility to $450 million.
“This significant expansion of our credit facility is an exciting step towards continued growth and our ability to fund more small businesses across the country,” said Christopher Chiou. “It speaks to our strong financial performance and will help secure our position as a leader in the revenue-based financing industry.”
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Forward provides working capital to underserved small businesses across the US. With more than 27% of their customers operating in Low-to-Moderate Income (LMI) areas, many do not have the ability to obtain traditional financing, such as a bank loan. Committed to offering superior customer service and ensuring customers feel knowledgeable and supported throughout the process, Forward was recently recognized in The 22nd American Business Awards for Customer Service Department of the Year.
Forward plans to use this additional capital towards continued funding volume growth and supporting more small businesses in need of working capital. Since the company’s inception in 2012, they have provided over $3 billion in funding to nearly 63,000 customers and Boston Business Journal recently named Forward one of Massachusetts’ largest fintech companies.
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