Forward Financing Secures $525 Million to Expand Funding for Small Businesses Across America

New $350 million variable funding note facility and $175 million asset-backed securitization strengthen the company's capital base and bring its total committed funding capacity to nearly $700 million

BOSTON, July 16, 2026 /PRNewswire/ -- Forward Financing, a leading provider of capital to small businesses across America, today announced the successful completion of $525 million of new financing through a $350 million variable funding note ("VFN") facility and a $175 million asset-backed securitization ("ABS").

The transactions refinance the company's existing warehouse facility, provide additional liquidity for growth and, together with Forward's inaugural ABS issuance completed in December 2025, increase the company's total committed funding capacity to nearly $700 million, further strengthening the company's ability to provide fast, reliable access to capital for small businesses across America.

The VFN facility, which can be expanded to $500 million, has a three-year revolving period and is syndicated to four institutional investors including private credit funds and insurance companies. The ABS transaction includes three classes of notes with a three-year revolving period and represents the Company's second securitization. The offering was more than four times oversubscribed, was subsequently upsized, and attracted participation from 11 institutional investors. Guggenheim Securities served as sole structuring advisor, sole book running manager, and sole placement agent on both transactions.

"This $525 million financing marks another significant milestone for Forward," said Jason Mullins, President & CEO of Forward. "Having provided more than $5 billion of capital to nearly 100,000 small businesses since inception, this transaction expands our funding capacity and strengthens our ability to deliver fast, reliable financing to the entrepreneurs and business owners we serve."

Together, the transactions further diversify Forward's funding platform across multiple facility types and institutional investor relationships, enhancing financial flexibility and supporting the company's long-term growth strategy.

"The successful execution of both our inaugural VFN facility and our second rated ABS reflects the confidence institutional investors have in the quality of our portfolio and our business model," said Christopher Chiou, Chief Financial Officer of Forward. "These transactions diversify our funding sources, strengthen our balance sheet, and provide a scalable capital foundation to support our continued growth."

About Forward Financing

Forward Financing is a fintech company based in Boston, Massachusetts with team members throughout the United States, Dominican Republic, and Canada. The company is on a mission to unlock the capital that fuels small businesses across America. Whether unable to access traditional financing or simply seeking a fast and flexible solution, Forward is committed to providing capital to small businesses nationwide. By leveraging a digital experience and advanced proprietary custom risk and underwriting models, Forward is able to provide instant approval and deliver funds the same day — giving more businesses the speed and financial opportunity they need to thrive. Complementing its industry leading technology platform, the company has teams dedicated to providing customers with customized service, ensuring they receive support in the manner that best meets their needs.

Since 2012, Forward has expanded access to capital by providing $5.2 billion in funding to over 97,000 small businesses. The company is A+ rated by the Better Business Bureau with an Excellent / 4.6 stars rating on Trustpilot.com. Recognized as a Best Place to Work by Built In Boston and certified as a Great Place To Work®, Forward is dedicated to empowering both its team and the customers they serve, helping them succeed and thrive.

Media Contact
Jessica Roden, VP Marketing
[email protected]

SOURCE Forward Financing