- Small-business loan company ForwardLine Financial announced that it raised $20 million in growth capital from Five Oceans Capital and Marsico Enterprises
ForwardLine Financial — a leading direct lender of small-business loans backed by Chicago-based private equity firm The Vistria Group — announced recently that it raised $20 million in growth capital from Five Oceans Capital and Marsico Enterprises. And the additional capital will be used to support the company’s aggressive origination goals.
Led by CEO Steve Carlson, ForwardLine closed a $100 million senior credit facility with Sector Financial (a division of Credit Suisse) and Neuberger Berman Private Equity Funds. That infusion of capital propelled ForwardLine to achieve record new customer originations in Q2 2019, a 300% increase over the prior year. And now the company is positioned to leverage its unique direct marketing model to drive further origination growth to close out 2019.
“The growth that we’ve experienced over the past year highlights the passion that our team members have towards helping small-business owners achieve their dreams,” said ForwardLine’s CEO Carlson. “We are thrilled to have the support of Five Oceans Capital and Marsico Enterprises as we continue to deliver industry-leading growth.”
ForwardLine has provided more than a half-billion dollars in funding to over 15,000 companies since 2003. And the company is driven by its mission to improve the financial health of America’s small businesses.
“Vistria seeks to partner with investors that share our vision for growth and passion for improving the financial health of small businesses,” added Mike Castleforte, a partner at The Vistria Group. “We’re pleased to have both Five Oceans Capital and Marsico Enterprises support the ForwardLine team as the company continues on its path to becoming the preferred partner for small businesses nationwide.”
