Good Funding, a recently-launched small business finance company, closed on a $20 million senior revolving credit facility with a U.S.-based asset manager. The agreement includes an accordion feature with the option to increase the credit facility to $30 million. The transaction represents Good Funding’s inaugural institutional financing. Good Funding will use proceeds of the financing to increase its funding capabilities and execute on its strategic growth plan.
“We are thrilled to have closed on this first round of institutional financing,” Jason Osiecki, co-founder and president of Good Funding, said. “This credit facility will allow us to accelerate the growth of our funding platform, expand our team and ultimately empower even more small businesses to move forward.”
“With less than a year in business, in the midst of a pandemic that is still negatively impacting America’s small businesses, we view this investment as a strong endorsement of what Good Funding can accomplish,” Ben Gold, co-founder and CEO of Good Funding, said. “Closing on this credit facility validates our mission to transform the way small businesses access the capital they need to grow and thrive. We cannot wait to put this investment into action.”
Brean Capital served as Good Funding’s exclusive advisor and placement agent in connection with this transaction.
