First Quarter Results Indicate Even Higher Growth Rate for 2014
Fora Financial has grown by at least 100 percent year after year since it was founded in 2008. While 2013 was its best year with the highest rate of growth, Fora Financial expects to exceed this in 2014.
While the Company grew from providing $1.1 million in annual funding to $40 million between 2008 and 2012, that pace rapidly accelerated. Since January 1, 2014, Fora Financial funded over 1,000 businesses more than $27 million.
“This quarter, we reached quite a milestone in sales and business deals,” Dan Smith, President and Founder said. “This tremendous growth allows us to continue to flourish as an industry leader and invest in our people and technology. We look forward to seeing how strongly we can finish 2014.”
To accommodate its growth, the Company has hired additional employees and is investigating options for even more office space. Aside from the growth in sales and number of business deals completed with customers, Fora Financial has grown from a two-person operation in the beginning into a company with nine departments and 68 employees. As its most recent hire, Douglas Greenberg joined the executive team as General Counsel in February 2014. Greenberg serves as legal counsel for the Company and also provides strategic leadership of its portfolio management operation. Fora Financial also expanded its office space from 2,500 square feet to 10,000 square feet in spring 2013 and is currently exploring options for additional space.
A contributor to this high rate of growth in the first quarter of 2014 has been the introduction of major technology initiatives that provide customers with both what they want and need. “We have introduced new third-party technology solutions to our proprietary software that utilize proven and trusted bank notification and customer user ID verification systems,” said Smith. “They meet the strict security and compliance parameters of the country’s largest banks and regulatory bodies while providing customers with an even greater sense of security and protection from fraud.”
Fora Financial’s founders Jared Feldman and Dan Smith have led the Company’s growth and constant technological evolution, while continuing to instill an environment of transparency and strong relationships with its clients and partners. “Our business will continue to grow as we continue to evolve by providing custom, innovative funding solutions,” said Smith.
For more information about Fora Financial, please visit www.forafinancial.com.
About Fora Financial
Fora Financial offers flexible, working capital solutions to small businesses in need of financing to sustain or grow their enterprise. The Manhattan-based company places a high value on trust and transparency and provides businesses with quick, customized financial solutions utilizing its state-of-the-art technology platforms. Founded in June 2008, Fora Financial has provided more than $178 million to over 4,500 customers.
