ForwardLine Financial, a Woodland Hills, CA-based direct lender of small-business loans, raised $20m in growth capital.
Five Oceans Capital and Marsico Enterprises were the backers.
The additional capital will be used to support the company’s origination goals.
Launched in 2003 and led by CEO Steve Carlson, ForwardLine Financial is a nationwide non-bank lender providing small businesses with financing alternatives to traditional business loans. The company combines technology, non-traditional credit algorithms, and a direct sales model to offer pricing and address a market not captured by traditional banks. In addition to loans, it offers payment-processing services to its borrowers.
Backed by Chicago-based private equity firm The Vistria Group, the company closed a $100 million senior credit facility with Sector Financial, a division of Credit Suisse, and Neuberger Berman Private Equity Funds, in Q2 2019.
Since founding, ForwardLine has provided more than a half-billion dollars in funding to over 15,000 companies.
FinSMEs
26/09/2019