ForwardLine Financial Secures New Credit Facility from Ares Management to Support Working Capital Needs of U.S. Small Businesses
ForwardLine Financial, a leading provider of financing to small businesses, secures new credit facility from Ares Management.
SANTA MONICA, Calif., Jan. 4, 2021 /PRNewswire-PRWeb/ -- ForwardLine Financial, a leading direct lender of small business loans, announced today that it has secured a new senior credit facility from funds managed by the Alternative Credit strategy of Ares Management. As part of this announcement, the company also shared that it has raised additional capital from Five Oceans Capital, a long-term investor in the company.
ForwardLine's CEO, Steve Carlson, states, "We are excited to be able to continue helping our customers obtain the capital they need, especially during these challenging times. Throughout 2020, we have worked with our current customers to assist them in successfully navigating through the Covid crisis and we are thrilled to be partnering with Ares and Five Oceans during this next chapter of ForwardLine's growth."
"We look forward to working with ForwardLine," said Jeffrey Kramer, Partner in Alternative Credit at Ares. "This investment is demonstrative of our belief in the resiliency of small businesses in America, and we will continue to seek opportunities to support a healthy financing market for small businesses."
The credit facility will be used to support ForwardLine's overall mission of improving the financial health of America's small businesses. Since 2003, ForwardLine has provided more than 14,000 small business owners, a key driver of the economy, with the working capital needed to realize their dreams. In addition to securing the additional capital, ForwardLine has also invested heavily over the past 12 months in further upgrading its technology platform to better serve both existing and new customers.
About ForwardLine
ForwardLine Financial, a leading non-bank lender, has been successfully providing small businesses with fast, convenient financing alternatives to traditional business loans since 2003. ForwardLine combines technology, non-traditional credit algorithms, and a direct sales model to offer attractive pricing and address a market not captured by traditional banks.
For more information, please contact ForwardLine's marketing department at 866.623.4900, email marketing(at)forwardline(dot)com or visit the ForwardLine website at https://www.forwardline.com.
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager operating integrated groups across Credit, Private Equity, Real Estate and Strategic Initiatives. Ares Management's investment groups collaborate to deliver innovative investment solutions and consistent, attractive investment returns for fund investors throughout market cycles. As of September 30, 2020, Ares Management's global platform had approximately $179 billion of assets under management with more than 1,400 employees operating across North America, Europe and Asia Pacific. For more information, please visit http://www.aresmgmt.com.
About Ares Alternative Credit
Ares' Alternative Credit strategy focuses on direct lending and investing in assets that generate contractual cash flows and fills gaps in the capital markets between credit, private equity and real estate. Ares Alternati Credit targets investments across the capital structure in specialty finance, lender finance, loan portfolios, equipment leasing, structured products, net lease, cash flow streams (royalties, licensing, management fees), fund secondaries and other asset-focused investments. Co-Headed by Keith Ashton and Joel Holsinger, Ares Alternative Credit leverages a broadly skilled and cohesive team of approximately 40 investment professionals as of September 30, 2020.
About Five Oceans Capital
Five Oceans Capital is a private, Los Angeles-based opportunity fund focused on real estate and specialty finance.
Media Contact
Marketing Department, ForwardLine Financial LLC, +1 (866) 623-4900, [email protected]
SOURCE ForwardLine Financial LLC
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