Company Research Report: Fora Financial

Company Overview

Name, Mission of the Company

• Company Name: Fora Financial

• Mission: To provide funding to small businesses, so that they can grow and succeed.

Founding Information

• Founded: 2008

• Founders: Jared Feldman and Dan Smith

Key People

• Jared Feldman - CEO & Co-Founder

• Dan Smith - Co-Founder & Board Member

• Andrew Gutman - Chief Operating Officer

• John Viskocil - General Counsel, Chief Compliance Officer

• Michael Chiang - Chief Risk and Analytics Officer

• Michael Air - Chief Technology Officer

• Neha Chinai - Vice President, Finance & Capital Markets

• Michael Hollander - Vice President, Sales

• Elissa Feldman - Vice President, Marketing

• Jesse Goldman - Vice President, Strategic Operations

• Élan Barish - Vice President, Growth Marketing

• Jason Solomon - Vice President, Partnership Development

• Brian Seaman - Vice President, Underwriting

• Patrick McGovern - Vice President, Software Engineering

• Cassandra Gomez - Director of HR and Administration

Headquarters

• Location: 1385 Broadway, 15th Floor, New York, NY 10018

Number of Employees

• Approximately: Nearly 200 employees

Revenue of the Company

• No information is available

What is the Company Known For

• Providing fast and reliable working capital to small businesses.

Products

Small Business Loan

Description

• Fixed terms lending solution for businesses needing quick capital for expansion, cash flow, and operations.

Key Features

• Prepayment discounts

• Terms up to 18 months

Revenue Advance

Description

• Alternative lending accommodating variable cash flows, with payments based on a percentage of gross receipts.

Key Features

• Variable terms for lower cash flow periods

• Daily or weekly payback plans

General Features of Fora Financial Products

• Approval and funding in 24 to 48 hours

• Borrow up to $1.5 million with no usage restrictions

• No prepay penalties

Minimum Requirements for Borrowers

• At least six months in business

• $20,000/month in revenue

• 570+ FICO score

• No open bankruptcies

Recent Developments

New Products Launched

• No information is available

New Features Added to Existing Products

• No information is available

New Partnerships

• No information is available

Significant Milestones

• 2008: Founding of Paramount Merchant Funding

• 2013: Rebranded to Fora Financial

• 2014: Introduced advanced technology for better lending decisions

• 2016: Palladium Equity Partners LLC acquired a majority stake

• 2018: Acquired United States Business Funding

• 2022: Opened 23,500-square-foot headquarters in New York and expanded to Miami

• 2023: Secured $130 million revolving credit facility and a $10 million corporate note

• 2024: Lent over $4 billion to over 55,000 small businesses

Case Studies

Crafting Success

• Funding Amount: $800,000

• Industry: Manufacturing and Wholesaling

• Use of Funds: Equity Raise, Production, Efficiencies

Advancing Medical Excellence

• Funding Amount: $720,000

• Industry: Healthcare

• Use of Funds: Equipment, Staffing, Patient Experience

Fashionable Success

• Funding Amount: $300,000

• Industry: Retail

• Use of Funds: Inventory, Renovations

Physical Therapy Expansion

• Funding Amount: $1,000,000

• Industry: Healthcare

• Use of Funds: Expansion, Cash Flow