tsl profile: FORA FINANCIAL

Offering a full suite of funding options and a consultative, one-stop shopping experience to service clients, Fora Financial prides itself on staying unique on the commercial finance space.

"We have a dedicated support staff to assist our partners in securing working capital for their clients while they focus on their own core business. We provide funding that allows small businesses to sustain or grow their enterprise," said Andrew Mallinger, vice president of strategic partnerships at Fora Financial.

Having recently changed its name over the summer, Fora Financial was established as Paramount Merchant Funding by Daniel Smith and Jared Feldman. During the time of the economic recession, both felt compelled to assist the thousands of small businesses in need of financing. Built upon trust and transparency, the company has supported the small business community, which has been historically underserved by lenders. Together, the two worked tirelessly to expand their staff and client base, starting from the ground up. Fora Financial has doubled their staff and revenue almost each year since inception and has grown into a competitive financing leader. They offer one of the most extensive offerings of services in the industry, according to Mallinger.

As the company has grown into its own over the past five years, Smith and Feldman have implemented individual styles of leadership that they believe will continue to bring success to the company. Smith is primarily responsible for the execution of dayto-day strategic goals of Fora Financial, overseeing current activity of the staff and their needs. Feldman's niche lies in aiding the Fora Financial team in achieving the company's long-term financial objectives.

"We offer a variety of programs including 'advances' and 'loans'. In the terms of the former, funds are advanced based on future sales and repayment is collected as a percentage of the same. With the loan program, repayment is collected as a fixed dollar amount per business day. Funding may be based on credit card revenues alone, or on total revenues including cash, insurance payments, checks, etc.," Mallinger explained.

"Our programs are unique, as the financing is not secured by assets, but is based on the cash flow of the business. Also, our advances and loans take a subordinate position to other financing instruments, which make it a good complement to other sources of funds."

Fora Financial provides the right tools to their customers to help them manage their financing, while supplying the knowledge necessary for them to succeed. Regardless of which solutions or services their customers use, they will always receive the added benefit of Fora Financial's industry counsel, insight and expertise.

As they move forward, Fora Financial hopes to continue to support and foster a community for the small businesses sector by making technological advancements and enhancements to their product offerings. With a goal of making the financing process more transparent and efficient, Fora Financial utilizes time-proven tools and solutions to provide its customers and industry partners with the most innovative funding solutions. Their consultative approach to understanding customer's needs, combined with their advanced technology solution that underscores their commitment to transparency, enables their partners and small business customers to grow, tsl

Kara O'Rourke is The Secured Lender's editorial intern.