Fundation Group LLC, a digitally-enabled lender and credit solutions provider, today announced that it has obtained a $100 million asset-backed credit facility from Goldman Sachs.
Fundation will use this credit facility to accelerate its growth by increasing its capacity to extend credit to small businesses across the United States through its various strategic partnerships.
Fundation focuses on developing strategic partnerships with banks, other financial institutions, and various service providers to the small business market. Fundation enables its bank partners to leverage Fundation’s platform to offer an online lending capability to their customers, drive cost efficiencies and serve more customers. Fundation also develops strategic partnerships, delivering capital to small businesses through integrations with partners that serve the small business market in various forms. In the past year, Fundation has announced strategic partnerships with Regions Bank, Alliance Partners, the manager of a 200-member community bank network, and the Minority Business Development Agency, a division of the United States Department of Commerce.
Fundation, majority owned by Garrison Investment Group, retains the vast majority of loans that it originates on its balance sheet. Fundation expects that this commitment, and other similar arrangements, will fund the majority of loan originations going forward.