Above Lending, a provider of consumer installment loans, closed a $200 million warehouse facility led by ATLAS SP Partners, which is acting as administrative agent.
Above Lending focuses on originating consumer loans for individuals looking to repay existing credit card and other household debt and rebuild their credit profile. The financing will be used to fund growth in Above Lending’s loan book.
“Above’s loan product is an effective solution for consumers looking to pay off existing credit card and other household debt and rebuild their credit profile,” Hadi Husain, CFO of Above Lending, said. “The capital we have raised from ATLAS SP will be instrumental in helping us reach more consumers and work to put them on a path to a better financial future.”
“We are proud to provide additional capital to Above Lending to support the continued growth of their consumer lending platform,” Andrew Koepke, director of ATLAS SP, said. “We remain committed to partnering with clients like Above Lending to optimize their capital structures and progress their strategic goals.”
