ECNETNews reports that a prominent provider of revenue-based financing for small businesses has announced a substantial expansion of its credit facility, increasing it from $250 million to $450 million. This crucial development will empower the Boston-based fintech firm to enhance its support for small businesses across the United States.
The Chief Financial Officer highlighted that this expansion marks a significant milestone for the company, reinforcing its commitment to assist more small businesses nationwide. This growth reflects the firm’s robust financial performance and its determination to maintain a leadership role in the revenue-based financing sector.
Focusing on underserved small businesses, especially in Low-to-Moderate Income (LMI) areas with limited access to traditional funding, this company has earned recognition for its commitment to exceptional customer service, including the prestigious Customer Service Department of the Year award in The 22nd American Business Awards®.
With the newly acquired capital, the company aims to increase its funding capabilities and aid even more small businesses in need of financial support. Since its founding in 2012, the firm has successfully provided over $3 billion in funding to nearly 63,000 clients and has been recognized as one of the largest fintech companies in Massachusetts.
