Fora Financial Achieves An Originations Milestone in 2024

The New York-based small-business lender has increased YOY transactions in the first Quarter by 30 percent.

NEW YORK, May 8, 2024 /PRNewswire-PRWeb/ -- Fora Financial, a leading provider of flexible financing to small- and medium-sized businesses nationwide, announced a new record for single-quarter funding originations. The company reports a 30 percent increase in Q1 2024 over Q1 2023 in overall funding volume, making this the strongest quarter in the firm's nearly 16-year history.

"Fora Financial is proud to chart such an important milestone," says CEO and co-founder Jared Feldman. "It's just further proof of how we are meeting and exceeding our commitment to helping America's small businesses negotiate an up-and-down economy and continue to thrive."

In citing reasons for this growth, Feldman praises Fora Financial's expert staff across all departments: "We're leveraging cutting-edge underwriting technology and data-driven insights every day, to provide each of our business owners personalized, one-on-one service."

Additionally, he adds, "As banks implement stricter lending criteria, Fora Financial is seeing more demand from businesses who may typically work with those traditional institutions." As a result of the market, the firm has increased its average funding amounts and terms YOY by more than 10 percent.

About Fora Financial
Founded in 2008, Fora Financial has provided more than $4.0 billion of financing to more than 55,000 small business owners. It offers fast, personalized small business loans and revenue advances, supported by a cutting-edge technology platform, one-on-one customer service, and total transactional transparency. The firm employs more than 140 people at its New York headquarters and Miami office.

Media Contact

Elissa Feldman, Fora Financial, 212-947-1000, [email protected], forafinancial.com

SOURCE Fora Financial