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Fora Financial Achieves An Originations Milestone in 2024

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星期三, 五月 8, 2024

Fora, YOY, Growth, History, Cryptocurrency

NEW YORK, May 8, 2024 /PRNewswire-PRWeb/ -- Fora Financial, a leading provider of flexible financing to small- and medium-sized businesses nationwide, announced a new record for single-quarter funding originations. The company reports a 30 percent increase in Q1 2024 over Q1 2023 in overall funding volume, making this the strongest quarter in the firm's nearly 16-year history.

Key Points:

NEW YORK, May 8, 2024 /PRNewswire-PRWeb/ -- Fora Financial, a leading provider of flexible financing to small- and medium-sized businesses nationwide, announced a new record for single-quarter funding originations.
"Fora Financial is proud to chart such an important milestone," says CEO and co-founder Jared Feldman.
"Fora Financial is proud to chart such an important milestone," says CEO and co-founder Jared Feldman.
Additionally, he adds, "As banks implement stricter lending criteria, Fora Financial is seeing more demand from businesses who may typically work with those traditional institutions."

Financial Times Names Propel Holdings to its Americas' Fastest Growing Companies of 2024 List

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星期四, 四月 4, 2024

Financial Times, Fora, Result, Ratio, The Company, TSX, Growth, Real-time

Propel is one of 500 companies that made the list, all a result of its organic growth.

Key Points:

Propel is one of 500 companies that made the list, all a result of its organic growth.
The Americas' Fastest Growing Companies 2023 ranking lists the top 500 companies in the Americas that have achieved the highest compound annual growth in revenues between 2019 and 2022.
The award list was announced on April 4th, 2024, and can be viewed on the Financial Times website .
It's an honour to be included on the Financial Times' list of high-growth companies.

Notice to Annual General Meeting of shareholders in Loomis AB

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星期三, 三月 27, 2024

STOCKHOLM, March 27, 2024 /PRNewswire/ -- The shareholders of Loomis AB, Reg. No 556620-8095 ("Loomis" or the "company"), are hereby invited to participate in the annual general meeting (the "AGM") to be held on Monday May 6, 2024 at 5 p.m. CEST, in Grünewaldsalen at Stockholm Concert Hall, entrance Kungsgatan 43, Stockholm. Registration for the AGM begins at 4.30 p.m. CEST.

Key Points:

A shareholder who wishes to attend the meeting venue in person or by proxy, must give notice of this in accordance with A) above.
Hence, a notice of participation only through postal voting is not sufficient for a person who wishes to attend the meeting venue.
The completed and signed postal voting form may be sent by post to Loomis AB, "AGM", c/o Euroclear Sweden AB, P.O.
She is a board member of Movestic Livförsäkring AB, Solid Försäkringsaktiebolag, Resurs Holding AB and Resurs Bank AB.

Propel Reports Record Results for Q4 and Fiscal Year 2023

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星期二, 三月 12, 2024

Automation, Fora, Comparable, The Company, Growth, Record, TSX, Marketing, Beauty salon

TORONTO, March 12, 2024 /CNW/ - Propel Holdings Inc. ("Propel" or the "Company") (TSX: PRL), the fintech facilitating access to credit for underserved consumers, today reported another set of record financial results for the three months ("Q4 2023") and fiscal year ended December 31, 2023.

Key Points:

TORONTO, March 12, 2024 /CNW/ - Propel Holdings Inc. ("Propel" or the "Company") (TSX: PRL), the fintech facilitating access to credit for underserved consumers, today reported another set of record financial results for the three months ("Q4 2023") and fiscal year ended December 31, 2023.
Financial and Operational Highlights for Q4 and Fiscal Year 2023 (Shown in U.S.
Dollars)
Comparable metrics relative to Q4 2022 and Fiscal Year 2022, respectively
Revenue: increased by 54% to $96.0 million in Q4 2023, and increased by 40% to $316.5 million for fiscal 2023, representing record performance for both periods
Adjusted EBITDA1: increased by 62% to $22.4 million in Q4 2023, and increased by 87% to $76.3 million for fiscal 2023, representing record performance for both periods
Net Income: increased by 68% to $8.5 million in Q4 2023, and increased by 84% to $27.8 million for fiscal 2023, representing record performance for both periods
Adjusted Net Income1: increased by 62% to $10.8 million in Q4 2023, and increased by 77% to $36.1 million for fiscal 2023, representing record performance for both periods
Diluted EPS2: increased by 65% to $0.23 (C$0.31) in Q4 2023, and increased by 78% to $0.76 (C$1.02) for fiscal 2023, representing record performance for both periods
Adjusted Diluted EPS1,2: increased by 59% to $0.29 (C$0.40) in Q4 2023, and increased by 72% to $0.98 (C$1.32) for fiscal 2023, representing record performance for both periods
Return on Equity3: increased on an annualized basis to 35% in Q4 2023 compared to 25% in Q4 2022, and increased to 30% for fiscal 2023 compared to 19% for fiscal 2022
Adjusted Return on Equity1: increased on an annualized basis to 44% in Q4 2023 compared to 33% in Q4 2022, and increased to 40% for fiscal 2023 compared to 26% for fiscal 2022
Loans and Advances Receivable: increased by 33% in Q4 2023 to $259.3 million, a record ending balance
Ending Combined Loan and Advance Balances1: increased by 36% in Q4 2023 to $337.3 million, a record ending balance
Dividend: paid a Q4 2023 dividend of C$0.105 per common share on December 5, 2023, representing an 11% increase to our Q4 2022 dividend and a 2.5% dividend yield against Propel's closing share price on March 12, 2024
"We are proud to end 2023 with another year of significant growth in both revenue and profitability and another quarter and year of record results including Revenue, Net Income, Adjusted Net Income1, Adjusted EBITDA1, Total Originations Funded1 and Ending CLAB1.
Growth of the core business including Bank Programs led to record Total Originations Funded1, ending CLAB1 and revenue
Total Originations Funded1 increased by 19% to a record of $120.7 million in Q4 2023 vs. Q4 2022 and increased by 7% to a record of $412.6 million for fiscal year 2023 vs. fiscal year 2022, resulting in Ending CLAB1 growing year-over-year by 36% to a record of $337.3 million
In addition, Annualized Revenue Yield1 increased to 121% in Q4 2023 from 110% in Q4 2022.

Fora Financial Surpasses $4 Billion+ in Capital Provided to America's Small Businesses

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星期三, 二月 14, 2024

SMB, Small business, History, Fora

NEW YORK, Feb. 14, 2024 /PRNewswire-PRWeb/ -- Fora Financial, a leading provider of short-term financing to the SMB community, announces that it has surpassed $4 billion+ in capital provided to more than 55,000 small businesses since its inception in 2008. The company achieved this milestone on the heels of a record-setting 2023, in which it supplied the nation's small businesses with over half a billion dollars of flexible financing.

Key Points:

NEW YORK, Feb. 14, 2024 /PRNewswire-PRWeb/ -- Fora Financial, a leading provider of short-term financing to the SMB community, announces that it has surpassed $4 billion+ in capital provided to more than 55,000 small businesses since its inception in 2008.
The company achieved this milestone on the heels of a record-setting 2023, in which it supplied the nation's small businesses with over half a billion dollars of flexible financing.
"Our broad sales relationships, diversified capital base, and deep funding experience enable us to continue financing small businesses through the ups and downs of the economic cycle."
As the SMB community continues to navigate through the challenges ahead, Fora Financial remains steadfast in its mission to provide essential financial support to small businesses across America.

Fora Financial Closes New Debt Financings, Further Diversifying Capital Structure

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星期二, 十月 3, 2023

SMB, Fora, Egan-Jones Ratings Company, BBB, Truist Financial, Bank

NEW YORK, Oct. 3, 2023 /PRNewswire-PRWeb/ -- Fora Financial, a leading provider of flexible financing to small- and medium-sized businesses nationwide, today announced the closings of a $130 million revolving credit facility and $10 million investment-grade rated corporate note. Truist Bank will serve as senior lender for the credit facility, joined by Castlelake as participating lender. Egan-Jones served as the rating agency for the corporate note, which was assigned a BBB rating, with Brean Capital acting as sole financial advisor and placement agent on the transaction. The corporate note will enable Fora Financial to capitalize future growth initiatives while lowering the company's overall cost of capital.

Key Points:

NEW YORK, Oct. 3, 2023 /PRNewswire-PRWeb/ -- Fora Financial, a leading provider of flexible financing to small- and medium-sized businesses nationwide, today announced the closings of a $130 million revolving credit facility and $10 million investment-grade rated corporate note.
Egan-Jones served as the rating agency for the corporate note, which was assigned a BBB rating, with Brean Capital acting as sole financial advisor and placement agent on the transaction.
The corporate note will enable Fora Financial to capitalize future growth initiatives while lowering the company's overall cost of capital.
"The closing of these two debt transactions in what has been a very challenging year in the capital markets represents another major step forward for Fora Financial and our customers," says Fora Financial COO Andrew Gutman.