BMG Money, a leading provider of employment-based lending solutions, has secured a $300 million financing facility with WebBank and Waterfall Asset Management, expanding its total financing capacity to approximately $1 billion. This new facility enhances BMG’s ability to offer responsible credit to financially underserved employees across the United States.
The expanded capacity builds on a long-standing partnership between BMG Money and WebBank, enabling the company to meet growing demand from employees seeking fair and affordable credit alternatives to high-interest loans. BMG Money currently operates in 39 states plus the District of Columbia and has originated nearly $4 billion in loans since its inception in 2011.
Headquartered in Miami, BMG Money focuses on improving financial wellness for public- and private-sector employees through financial education, credit monitoring, and emergency loan products.
KEY QUOTES:
“Reaching approximately $1 billion in total financing capacity is a transformational milestone for BMG Money and, more importantly, for the millions of working Americans who struggle to access fair credit. Our expanded partnership with WebBank demonstrates strong confidence in our mission and our proven ability to responsibly serve underserved borrowers.”
Kieran Noonan, President and Chief Executive Officer, BMG Money
“We are proud to expand our partnership with BMG Money through this new facility. BMG Money continues to demonstrate innovation and meaningful impact in supporting financial inclusion.”
Jason Lloyd, President and Chief Executive Officer, WebBank
