Good Funding, LLC ("Good Funding"), a recently-launched small business finance company, has closed on a $20.0 million senior revolving credit facility with a U.S.-based, credit focused asset manager. The agreement includes an accordion feature with the option to increase the credit facility to $30.0 million. The transaction represents Good Funding's inaugural institutional financing. Proceeds will be used to increase the Company's funding capabilities and execute its strategic growth plan
"We are thrilled to have closed on this first round of institutional financing," said Jason Osiecki, Co-Founder and President of Good Funding. "This credit facility will allow us to accelerate the growth of our funding platform, expand our team, and ultimately empower even more small businesses to move forward."
"With less than a year in business, in the midst of a pandemic that is still negatively impacting America's small businesses, we view this investment as a strong endorsement of what Good Funding can accomplish," said Co-Founder and CEO of Good Funding, Ben Gold. "Closing on this credit facility validates our mission to transform the way small businesses access the capital they need to grow and thrive. We cannot wait to put this investment into action."
Brean Capital, LLC served as the Company's exclusive Advisor and Placement Agent in connection with this transaction.
About Good Funding, LLC
Founded in 2020, Good Funding is a privately-held financial services firm that provides alternative funding resources to America's small businesses. Our products are designed for business owners who cannot access working capital through traditional methods, or simply need funding with a rapid-fire turnaround. Good Funding allows entrepreneurs, start-ups and established businesses to build self-reliance and a brighter financial future. We created Good Funding to be different and to make a difference. Our team has designed products tailored to the unique needs and circumstances of small businesses. And since this is a space we intimately know, we can develop and easily recognize solutions that are poised for success. We're different in the way we attack challenges. We function as a team - as a family, really - which means we experience collaboration and camaraderie (and the occasional debate that goes sideways). But ultimately, it's our unified trust and commitment to one another that always leads to the optimal customer-centric solution. Good Funding stands out by changing outcomes. It's the essence of our culture, our values, and our ideology. Like we say, for us, good is personal.