SLR Business Credit acquired Fast Pay Partners. Based in Los Angeles, Fast Pay Partners enables clients to accelerate receivables and access liquidity through its asset-based lending and factoring platform, which primarily services media firms in the United States.
Pro forma for this transaction, SLR Business Credit will manage a portfolio of $550 million of credit facilities. SLR Business Credit will also gain a dedicated team with experience across the media lending cycle from origination to underwriting and servicing.
“Building on the success of our 2019 acquisition of Summit Financial Resources, we’re excited to partner with the experienced FastPay team to expand our lending capabilities with media companies,” Jeff Goldrich, CEO of SLR Business Credit, said. “Fast Pay Partners has a proven track record of originating and managing factoring assets.”
“This acquisition enhances SLR-BC’s unique specialty finance platform,” Mitch Soiefer, partner and head of lender finance at SLR Capital Partners, said. “Fast Pay Partners expands SLR-BC’s geographical reach and increases the scale and capabilities of its factoring platform.”
Hovde Group served as exclusive financial advisor to Fast Pay Partners in connection with the transaction.
