FLOCK Specialty Finance has closed on a new senior debt facility with MidCap Financial Services, an Atlanta-based, alternative funding provider of capital and expertise for the purchase of both charged-off debt portfolios and for the financing of subprime consumer obligations.
The new funding represents a significant increase in senior debt capital for FLOCK, nearly doubling its deployment capacity.
“Our new relationship with MidCap takes our specialty finance company to a whole new level of growth, providing a wider menu of offerings in a broader array of complementary asset classes. It ensures that we will have capital solutions aligned with our clients, supporting their future growth strategies,” said Michael Flock, chairman and CEO of FLOCK Specialty Finance.
“We are very impressed by FLOCK’s unique combination of industry acumen and data analytics, and its commitment to partner with high-growth, high-integrity debt buyers to meet their funding needs,” said J.D. Gettmann, Managing Director at MidCap Financial Services.