SMB lending platform Yalber closed a $20 million senior credit facility this week, the company announced today.
Founded in 2007 and headquartered in New York City (with offices in Dallas, Los Angeles and San Francisco), Yalber is a technology-enabled specialty lender, leveraging proprietary origination, underwriting and performance analytics to improve the speed, cost and choice of capital available to small and mid-sized businesses throughout the U.S.
“We are pleased to announce this $20 million credit investment, which increases our funding capabilities and enhances our ability to take advantage of significant market opportunities,” stated Yalber’s CEO, Amir Landsman. “The new facility, from a leading institutional financing partner, is a validation of the strength of our team, our track record of success and the robust platform that Yalber has built.”
Since its founding, Yalber has provided more than 5,000 businesses with more than $300 million in working capital solutions to grow. Funds are earmarked to execute its strategic growth plan and accelerate lending capacity.
“Small businesses are thriving; representing 99 per cent of all U.S businesses, 60 per cent of total net job creation and 46 per cent of private confirm GDP,” Mr. Landsman said. “Yet, bank credit to this important sector of the economy has contracted sharply. It is estimated that the amount of small business loan originations plummeted by more than half during the financial crisis and has seen only a very limited recovery post-crisis, leaving small business loan originations down 40 per cent.”
Yalber offers small business owners in a variety of industries across the U.S. the option to fund their businesses for any purpose with up to $500,000. The Company’s technology-enabled platform allows for a streamlined process, with most qualified businesses funded within 24 hours.
Brean Capital served as exclusive financial advisor on the transaction. The senior credit facility provided by an institutional credit fund focused on specialty finance and related investments.