CrowdOut Capital completed a $30 million credit facility for Personiv, a business process outsourcer that employs over 2,500 employees in 3 different countries.
Proceeds from the loan will be used to provide additional liquidity for future acquisitions and organic growth and to recapitalize the company. It is the second loan CrowdOut provided to Personiv in just over a year.
“CrowdOut offered the flexibility and support we needed to expand quickly and acquire complementary assets,” said David Lesniak, CEO of Personiv. “Their collaborative approach to underwriting has been integral to accommodating our explosive growth.”
“High growth companies like Personiv seek out non-bank financing solutions like ours because they need flexibility,” said Alexander Schoenbaum, CrowdOut Capital CEO. “Our expedited due diligence and streamlined approach to underwriting loans is a unique value proposition over banks and traditional credit funds. Our one to four-year term loans offer cost-savings to borrowers and strong ROI for investors.”
Founded in 2015, CrowdOut is the first and only company to use a web-based platform to offer individuals the opportunity to invest as little as $1,000 directly into corporate loans that range from $3 million to $50 million in size.
