Atlanta, GA — February 1, 2017
Atlanta-based FLOCK Specialty Finance, a provider of capital to buyers of non-performing debt and alternative specialty finance lenders, announced a significant expansion of its capital base to support rapid growth in the company’s portfolio deployments. In December 2016, FLOCK closed on a new senior line of credit from a syndicate of four commercial banks, which provided a 50% increase to available commitments under its facility. Also, in early 2017, FLOCK successfully completed a significant mezzanine capital raise which provided additional flexibility and volume to the company’s capital base. Together both capital raises greatly expanded the company’s total capital available.
“We anticipate significant growth in our traditional customer base as credit grantors continue to re-enter the market for selling charged-off debt” said CEO Michael Flock, when asked about Flock’s growth plans for 2017 and beyond. “We are actively pursuing new asset classes and sales channels while developing new financing products to accommodate the increasing need for capital in the debt buying and alternative lending industries.”
CFO John Wheeler reported that FLOCK has consistently exceeded their deployment targets and has established ambitious goals for 2017. “Our biggest challenge as we enter 2017 is managing our growth in a disciplined manner with partners who have solid platforms and are focused on compliance and consistent performance.”
About FLOCK Specialty Finance:
FLOCK Specialty Finance is dedicated to alternative funding in a variety of specialty finance segments. 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 subprime consumer obligations. FLOCK has funded over 600 portfolios since 2013.
FLOCK believes its funding is “More Than a Transaction”. FLOCK’s proprietary financing structure provides growth-minded clients with a competitive advantage in multiple asset classes. Founded in 2007, FLOCK is headquartered in Atlanta, GA. For additional information, please call: 770-644-0850 or contact us today.