Good Funding closes $30M credit facility to provide alternative funding sources to America’s small businesses and tech startups

Raising capital or not having enough capital has been listed as one of the top ten financial challenges facing small businesses in the United States, according to Oracle-owned company Netsuite. Small businesses, entrepreneurs, and tech startups alike also find it very difficult to obtain working capital financing from traditional banks.

Enter Good Funding, a Tustin California-based fintech startup on a mission to provide alternative funding resources to America’s small businesses, entrepreneurs, and startups. Good Funding helps business owners who cannot access working capital through traditional methods, or simply need funding with a rapid-fire turnaround.

To further increase its funding capabilities and execute its strategic growth plan, Good Funding announced it has closed on a $20.0 million senior revolving credit facility with a U.S.-based, credit-focused asset manager. The agreement includes an accordion feature with the option to increase the credit facility to $30.0 million. The transaction represents Good Funding’s inaugural institutional financing.

Founded in 2020 by Ben Gold and Jason Osiecki, through relationships with our trusted broker partners, the startup allows entrepreneurs, start-ups, and established businesses to build self-reliance and a brighter financial future.

“We are thrilled to have closed on this first round of institutional financing,” said Jason Osiecki, Co-Founder and President of Good Funding. “This credit facility will allow us to accelerate the growth of our funding platform, expand our team, and ultimately empower even more small businesses to move forward.”

“With less than a year in business, in the midst of a pandemic that is still negatively impacting America’s small businesses, we view this investment as a strong endorsement of what Good Funding can accomplish,” said Co-Founder and CEO of Good Funding, Ben Gold. “Closing on this credit facility validates our mission to transform the way small businesses access the capital they need to grow and thrive. We cannot wait to put this investment into action.”