NEW YORK, Oct. 30, 2023 (GLOBE NEWSWIRE) -- Above Lending, a leading national provider of consumer installment loans, today announced the closing of a $200-million warehouse facility (the “Financing”) led by ATLAS SP Partners ("ATLAS SP"), which is acting as Administrative Agent.
Above Lending focuses on originating consumer loans for individuals looking to repay existing credit card and other household debt and rebuild their credit profile. The Financing will be used to fund growth in Above Lending’s loan book.
"Above’s loan product is an effective solution for consumers looking to pay off existing credit card and other household debt and rebuild their credit profile," said Above Lending CFO Hadi Husain. “The capital we have raised from ATLAS SP will be instrumental in helping us reach more consumers and work to put them on a path to a better financial future.”
“We are proud to provide additional capital to Above Lending to support the continued growth of their consumer lending platform,” said ATLAS SP Director Andrew Koepke. “We remain committed to partnering with clients like Above Lending to optimize their capital structures and progress their strategic goals.”
About Above Lending
Above Lending is a consumer lending company that provides debt consolidation loan programs to eligible consumers. For more information, please visit www.abovelending.com.
About ATLAS SP Partners
ATLAS SP Partners is a global investment firm that seeks to provide stable funding and capital markets services to companies seeking innovative and bespoke structured credit and asset-backed finance solutions. We’re proud to build upon a legacy of excellence anchored in deep expertise and client service across the asset management landscape. For more information, please visit https://www.atlas-sp.com.
Media Contacts
Above Lending
claire.davidson@abovelending.com
Atlas SP Partners
atlas-sp@joelefrank.com
212-355-4449
