National Funding and its recently launched holding company FairSquare, announced a bank line of credit commitment for $83.25 million from Forbright Bank (with a total expansion capacity of up to $150 million).  

The Forbright Bank credit facility includes $9 million in mezzanine capital from Hudson Cove Capital Management, LLC and sets up the fintech to meet its growth targets for 2025 and beyond. It will increase National Funding's leverage from 85% to 90%, while building liquidity, origination capacity and balance sheet growth.

To date, National Funding has provided over $6 billion in SMB financing. "For owners of the more than 33 million U.S. SMBs, access to capital remains a crucial component for success," says Gilbert. "Forbright Bank and Hudson Cove have made it possible for National Funding to fund SMBs so they can meet their critical requirements for payroll, inventory, equipment, expansion opportunities or any other business expense. Our mission is to help SMBs thrive, whether they're established start-ups or mature companies. Forbright has helped us ensure our customers have the financial wellbeing to fuel their futures."

National Funding provides entrepreneurs with fast approval for small business loans and a simple application process. To date, National Funding has provided financing to more than 75,000 businesses nationwide. The announcement of today's financing from Forbright Bank and Hudson Cove will enable National Funding to provide tailored lending solutions to even more small businesses across the country.

"At Forbright Bank, we believe financing for small businesses is vital to fostering innovation and creating opportunities for future generations," said Brian Petronis, Managing Director for Lender Finance at Forbright Bank. "We're excited to partner with an innovative and trusted lender like National Funding, and we look forward to continuing a long-term relationship that creates opportunities for years to come."