Forward Financing Announces Expanded $450 Million Credit Facility to Help More Small Businesses
Summary
"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, Chief Financial Officer. 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. Since the companys 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.About Forward FinancingForward is a financial technology company headquartered in Boston, Massachusetts with an operational hub in Santiago, Dominican Republic that provides fast, flexible capital to US small businesses that have been underserved by traditional financing options. By simplifying requirements, streamlining the process, and using advanced proprietary technology, Forward is often able to deliver approvals within hours and funds that same day giving more businesses the financial opportunity they need to thrive. Plus, with their dedicated teams and award-winning service, customers get personalized support when they need it most.Since 2012, Forward has expanded access to capital by providing over $3 billion in funding to nearly 63,000 small businesses.