SAN FRANCISCO, CA / ACCESSWIRE / July 15, 2021 / Libertas Funding, LLC (Libertas), a technology-enabled specialty finance company that provides funding solutions to small and medium-sized businesses (SMB), today announced that it has entered into a warehouse financing agreement of up to $100 million with Silicon Valley Bank (SVB), the bank of the world's most innovative companies and their investors.This agreement provides financing to be used for Libertas' origination of revenue-based funding to enable SMBs to achieve their growth objectives.
Based in Greenwich, Connecticut, Libertas is a leader in revenue-based financing, having provided total funding approaching $1 billion to its customers since its inception in September 2016. Libertas was established to address the unique capital needs of SMBs-its fast, flexible funding solutions are designed to help SMBs solve the working capital challenges they often face and enable them to pursue growth opportunities. Companies seeking capital from Libertas can secure funding in as fast as 1-2 business days.
"We are excited to partner with Silicon Valley Bank, a true digital banking leader, whose commitment to customer service and integrity closely aligns with our core values," said Randy Saluck, the CEO of Libertas. 'Now, more than ever, small and medium-sized businesses need quick access to funding to meet their working capital requirements."
Since its inception, Libertas has taken a unique "hands-on" approach to funding by combining its efficient automated application system with a customer-focused process, providing customers guidance throughout the transaction. 'At Libertas, we recognize that every business is unique," Saluck said. "We talk to each of our SMB customers to understand their businesses and provide financing to meet their capital needs. Our partnership with SVB enables us to provide lower cost and more flexible financing solutions to help our clients reach their goals.'
"As the economy recovers from the pandemic, supporting small businesses is as important as ever," said Nick Christian, Head of Specialty Finance at Silicon Valley Bank. "We're proud to provide this warehouse facility to Libertas as it continues to grow and help more small businesses succeed."
SVB's specialty finance group provides revolving lines of credit and term loans to companies and funds active in the consumer and enterprise sectors. The specialty finance team has deep, proven expertise providing custom credit solutions such as warehouse facilities.
About Silicon Valley Bank
For nearly 40 years, Silicon Valley Bank has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.
Founded in 2016, Libertas Funding, LLC is a technology-driven specialty finance and asset management company with a leadership team that has a combined 100+ years in the finance and credit industries. Since its inception, Libertas has provided total funding approaching $1 billion to SMBs to meet its clients' capital requirements. Libertas offers a unique approach using a flexible model that addresses individual business needs through a combination of technology and a focus on interactive customer service. Libertas leads with integrity and truly cares about its customers. For more information about Libertas, visit https://libertasfunding.com/
Silicon Valley Bank
SOURCE: Libertas Funding, LLC