Fintap, a technology-enabled specialty finance company based in Clifton, New Jersey, has secured a new credit facility and corporate note worth up to $86.5m.
The announcement marks a significant step forward for the firm as it accelerates technology development and expands its financial services for small and medium-sized businesses (SMBs).
The company confirmed it has closed a credit facility of up to $82.5m alongside a corporate note of $4m, a substantial increase from its 2021 financing. This latest capital injection is expected to support Fintap’s mission of expanding access to working capital for underserved businesses across the United States.
Founded in 2015, Fintap provides working capital solutions of up to $1m to small businesses through a fast, efficient, and transparent process. The firm leverages technology to deliver streamlined financing options, offering support to enterprises across more than 100 industries nationwide. To date, it has deployed over $300m to more than 5,000 small businesses.
The company intends to use the new funding to enhance its technology infrastructure, strengthen API integrations, and launch new products. Fintap also plans to expand its lending reach, ensuring more small businesses can benefit from faster and more competitive funding options.
Fintap CEO and founder Reuven Mirlis said, “Our new credit facility enables us to scale our reach and better serve SMBs with faster, more competitive financing solutions. We are also launching a new ‘A paper’ product with buy rates starting in the high teens, allowing us to enter markets we previously couldn’t serve and capture greater market share.”
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