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Funding Metrics Announces New $100 Million Revolving Credit Facility
March 9, 2020
Source: PR Web
Funding Metrics, under the brands Lendini and Quickfix Capital is a merchant cash advance company that has developed a robust online platform with advances being approved with in 3 hours.
Funding Metrics, LLC (the “Company”) announced today the closing of a new $100 million revolving credit facility with a multi-billion dollar institutional credit fund. The Company will use the funds to expand and accelerate the growth of its small business funding platform. Brean Capital served as exclusive financial advisor to the Company on the transaction.
“We are very pleased to announce this new $100 million facility, which will allow us to significantly expand our ability to provide funding to the growing small business community across the United States,” said Co-Founder, Chairman and Chief Executive Officer, David Frascella. “This new facility represents an exciting milestone in our continued growth. Funding Metrics has tripled its origination volume since 2017, totaling over $500 million since company inception. I am very proud of the robust funding platform our team has created, the strong relationships we have developed with our independent sales organization partners, and especially the trust placed in us by our merchants. Funding Metrics has created a best of breed technology-based platform allowing most funding offers to be sent in under three hours.”
Additional capital provided by the facility will allow Funding Metrics to capitalize on growth opportunities in 2020 and beyond as well as on the extensive infrastructure of people and technology it has built over the last few years. Mr. Frascella added, “We look forward to additional submissions from the ISO network and funding the next wave of small business leaders nationwide.”
About Funding Metrics:
Funding Metrics is a leading data and analytics driven online provider of funding for small businesses throughout the United States. The Company uses proprietary risk models combined with real-time cash flow data to evaluate business performance and provides growth capital for entrepreneurs in a fast and efficient way through its two online brands, Lendini and QuickFix Capital. Since 2014, the Funding Metrics has provided over $500 million in funding to more than 9,500 small businesses in all 50 states. The Company is headquartered in Bensalem, PA, with additional offices in Jersey City, NJ and San Jose, Costa Rica.
For more information, please visit: http://www.fundingmetrics.com
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