Koalafi Closes Multi-Million Dollar Warehouse Facility with Forbright Bank
Summary
Secured Debt Facility Enables Koalafi to Further Scale Expansion of Loan Financing to Serve More Consumers Through an Innovative Single ApplicationRICHMOND, Va., Aug. 16, 2022 /PRNewswire/ -- Koalafi, a fast-growing consumer financing provider committed to providing innovative pay-over-time options to customers from all credit backgrounds, announced today the signing of a multi-million secured debt facility from Forbright Bank. "Before this unprecedented offering, merchants faced a number of headaches with the financing solutions available," said Rob Finnegan, Chief Executive Officer and Co-Founder of Koalafi. "Rob Finnegan emphasized "this credit facility with Forbright ensures we can quickly scale our loan funding volume to offer our dramatically simplified financing approach to more businesses and their customers. With a single application and platform, Koalafi merchants can offer a wide range of transparent and simple pay-over-time plans to every customer who visits their business. Forbright Bank is an equal housing lender and makes loans without regard to race, color, religion, national origin, sex, handicap, or familial status.