Fast Pay and The Arena Group announce an increase in credit facility to $25,000,000
LOS ANGELES, CALIFORNIA
Today, Fast Pay Partners, a wholly-owned subsidiary of SLR Business Credit, is pleased to announce an increase and maturity extension with The Arena Group of their credit facility to $25,000,000. The Arena Group, who owns the exclusive online publishing rights to Sports Illustrated, The Spun, TheStreet.com among others, has been a Fast Pay client since February 2020.
“We couldn’t be more excited to deepen our relationship with The Arena Group. Their growth and performance in the few years they’ve been a client has been astounding. They have a best-in-class team and have done a great job of identifying key acquisitions to help increase their distribution and already impressive web presence,” said Randy Mitzman, Managing Director of Fast Pay and SLR Business Credit.
“FastPay has given us the ability to streamline the financing process, which allows us to focus attention on our core business. Their understanding of the media space has allowed us to get up and running with our financing needs quickly, and they’ve been flexible in considering any specifics of our business. We’ve been very happy with the partnership we’ve developed with them as a lending partner,” said Doug Smith, CFO of The Arena Group.
About Fast Pay Partners
Fast Pay Partners, a part of SLR Business Credit, provides Factoring and Asset Based Loan facilities up to $100,000,000 exclusively to the digital media ecosystem, including publishers, adtech companies, digital agencies, and creative studios across the United States.