AloStar provided additional senior capital to FLOCK Specialty Finance as part of a major upgrade to its Senior Revolving Credit facility agented by The Private Bank.
FLOCK is an Atlanta-based provider of capital to buyers of non-performing debt and alternative specialty finance lenders. Founded in 2007, FLOCK’s mission is to provide clients with capital and expertise for the purchase of both charged off debt portfolios as well as for the financing of sub-prime consumer obligations.
“We were really impressed with AloStar and thank them for being flexible and collaborative,” said Michael Flock, Chairman and CEO of FLOCK Specialty Finance. “They brought a great deal of expertise and industry knowledge to the process and helped us secure the additional capital commitment we need to continue to grow our business.”