Fast Pay Partners, a wholly-owned subsidiary of SLR Business Credit, provided a $30 million working capital facility to a digital publisher.
The digital publishing company has scaled organically and expanded by acquiring print magazines and digital websites to extend its reach to more than 150 million monthly readers. The company wanted to secure a non-dilutive credit facility to refinance its incumbent lender for more flexibility and availability, to help finance working capital and to reinvest in recently acquired properties.
Fast Pay Partners helped the company achieve its goal. According to Fast Pay Partners, the company’s quality accounts receivable debtors, projected growth supported by a strong pipeline and blue-chip equity holders was the reason Fast Pay Partners was able to meet the company’s request. Fast Pay Partners closed the transaction within six weeks of a signed term sheet.
SLR Business Credit acquired Fast Pay Partners earlier this month.
