Forward Financing Boosts Credit Facility to $450 Million
Forward Financing, a leading name in financial technology, has officially raised its credit facility from $250 million to a remarkable $450 million. This expansion aims to reinforce the company’s dedication to supporting small businesses across the nation. With this increased funding, Forward plans to assist even more entrepreneurs who often face difficulties with traditional financing methods.
Addressing the Challenges Faced by Small Businesses
Small businesses throughout the country, particularly in underserved communities, often struggle to secure traditional funding. At Forward Financing, recognizing these specific hurdles is central to their mission. Over 27% of the company’s clientele is based in Low-to-Moderate Income (LMI) areas, which makes it tough for them to access conventional bank loans. The recent expansion of their credit facility is a strategic move to better serve this important demographic.
Enhancing Financial Support for Those in Need
Christopher Chiou, Chief Financial Officer at Forward, shared his excitement regarding the company’s financial growth and its positive effect on small businesses: "This substantial expansion of our credit facility is an exhilarating step towards ongoing growth and our capacity to support more small businesses across the nation." His comments reflect the company's aim to strengthen its position in the revenue-based financing sector.
Honored for Outstanding Customer Service
Forward Financing goes beyond the numbers; they genuinely care about customer service. They were recently acknowledged in The 22nd American Business Awards for excellence in their Customer Service Department. The firm prioritizes providing informed and supportive service throughout the financing journey, believing that when customers are well-informed, they can make wiser financial choices.
Dedication to Growth and Success
As they look to the future, Forward Financing intends to channel this additional capital into expanding their funding volume, ensuring they can meet the rising demands of small businesses seeking working capital more than ever. Established in 2012, Forward has successfully funded over $3 billion to nearly 63,000 small businesses. This impressive milestone underscores the firm’s commitment to its mission and the communities it serves.
Cultivating a Positive Workplace Culture
Culture is a crucial element at Forward. The company has received an A+ rating from the Better Business Bureau and boasts an impressive 4.8-star rating on Trustpilot.com. They’ve also been recognized as a Best Place to Work by Built In Boston and certified as a Great Place to Work®. This internal commitment reflects their mission of empowering both their team members and the small businesses they assist to achieve their fullest potential.
About Forward Financing
Headquartered in Boston, Massachusetts, Forward Financing specializes in providing quick, flexible capital to small businesses that are often overlooked by traditional banks. They operate an additional hub in Santiago, Dominican Republic, employing advanced technology to streamline the application process and facilitate same-day funding. This efficiency highlights Forward's commitment to empowering small business owners who face significant challenges in accessing funding.
Contact Information
For questions or inquiries, please contact Christina Sorrentino at 888-244-9099.
Frequently Asked Questions
What is the purpose of Forward Financing's credit facility expansion?
The expansion aims to increase funding availability for small businesses, especially those underserved in financial accessibility.
How does Forward Financing support small businesses?
They provide fast, flexible financing options, often delivering funds within the same day, tailored for small businesses in need.
What recognition has Forward Financing received?
They have been recognized for their exceptional customer service and have received several awards, including from the Better Business Bureau.
What types of businesses does Forward Financing serve?
The company primarily serves small businesses, particularly those located in Low-to-Moderate Income areas with limited access to traditional funding.
How much funding has Forward Financing provided since its inception?
Since 2012, Forward Financing has provided over $3 billion in funding to nearly 63,000 small businesses across the U.S.
