MIAMI–(BUSINESS WIRE)–BMG Money today announced a forward flow agreement with Hudson Cove Capital Management, LLC to purchase up to $360 million of loans issued by WebBank through BMG Money’s employment-based lending platform. This strategic partnership represents a significant expansion of BMG Money’s capital capacity and reinforces the company’s mission to provide responsible credit solutions to financially underserved individuals across the United States.
This strategic partnership represents a significant expansion of BMG Money’s capital capacity and reinforces the company’s mission to provide responsible credit solutions to financially underserved individuals across the United States.
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Since 2011, BMG Money has been dedicated to helping public and private sector employees access emergency loans with instant funding options. The company provides access to loans for individuals who may not qualify for credit from traditional financial institutions, addressing the needs of those burdened or limited by their FICO scores. Unlike conventional lenders, FICO scores are not considered in connection with applications for BMG Money. Instead, loan approvals are based on employment status. This inclusive lending philosophy ensures that employees can apply regardless of their credit score, recognizing that consumers are more than just a number.
According to Kieran Noonan, President & CEO at BMG Money,
BMG Money Announces $360 Million Forward Flow Agreement with Hudson Cove Capital Management
