Balance Credit Secures $100,000,000 in Additional Funding

Funding will allow expansion and enhance product offerings

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Oct 07, 2015, 09:00 ET

IRVING, Texas, Oct. 7, 2015 /PRNewswire/ -- SunUp Financial, LLC, (dba Balance Credit), a leading online lender to hardworking families and individuals, announced today it has secured $100,000,000 in growth capital from Princeton Alternative Funding, LLC (PAF). This credit facility will enable Balance Credit to expand its offerings of unsecured personal loans and credit services to assist people with urgent cash needs. Loans provided by Balance are a quick and convenient alternative to payday and title loans.

"We are excited to partner with PAF as we continue a rapid expansion of our product offerings," said Jason Hutton, CEO of Balance Credit. "This round of funding increases our total committed capital to more than $150,000,000 and continues to validate institutional support for our strategy and our team."

Hutton continued, "With this phase of funding secured, we look forward to a future of new opportunities and markets where our strong leadership, industry experience and customer commitment will provide better personal financial solutions to people of all walks of life."

"We are pleased to partner with Balance Credit and facilitate their continued risk-adjusted growth as they deploy this additional capital," said Bob Farrell, President, Princeton Alternative Funding, LLC. "Balance Credit continues to position itself as a leader in the online consumer lending market."

According to the latest FDIC survey, there are 68 million Americans under banked and underserviced by traditional lending institutions. Balance Credit strives to be a resource to consumers in times of financial need.

About Balance Credit

Headquartered in Irving, Texas, Balance Credit (SunUp Financial, LLC) offers unsecured, personal installment loans and credit services to customers in need of a fast and convenient source of additional cash. Using advanced analytics and proprietary technology, the company helps customers across the credit spectrum gain access to loans currently from $100 up to $3,000 and with terms up to 24 months. The company is licensed and regulated in each U.S. state where it operates. Balance Credit's mission is to provide consumers a fast, secure and simple way to apply for loans and credit services at its website, balancecredit.com.

About Princeton

Princeton Alternative Funding, LLC (PAF) is the general partner and manager of the Princeton Alternative Income Fund. The Fund is an investment vehicle crafted for the purpose of funding businesses that make consumer loans. PAF has an exclusive partnership with MicroBilt Corporation, the leader for analyzing non-prime risk, world-class analytics and monitoring capabilities to the underwriting process. For more information, please visit www.princetonalternativefunding.com

CONTACT:
William Livermore
917-620-0774 (o)
[email protected]

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SOURCE Balance Credit