Daily News: June 20, 2017

AloStar Provides Senior Capital to FLOCK Specialty Finance

AloStar provided additional senior capital to FLOCK Specialty Finance as part of a major upgrade to its senior revolving credit facility agented by The PrivateBank.

FLOCK is an Atlanta-based provider of capital to buyers of non-performing debt and alternative specialty finance lenders. Founded in 2007, FLOCK’s provides clients with capital and expertise for the purchase of both charged-off debt portfolios as well as for the financing of sub-prime consumer obligations.

“We were really impressed with AloStar and thank them for being flexible and collaborative,” said Michael Flock, chairman and CEO of FLOCK Specialty Finance. “They brought a great deal of expertise and industry knowledge to the process and helped us secure the additional capital commitment we needed to continue to grow our business.”