Finacity, a White Oak Company, Facilitates Express Credit Group’s Consumer Loan Financing Program for African Lending Operations
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STAMFORD, Connecticut, Oct 06, 2021 (GLOBE NEWSWIRE) – Finacity Corporation, a White Oak Company, (“Finacity”) announced that it has successfully completed the facilitation of a new consumer loan finance program for the specialty of Botswana’s Express Credit Group financial operations (“Express Credit”). The new facility will purchase loans from Express Credit through a newly formed special purpose company. The first tranche consisted of the purchase of a $ 9.0 million pool of payday deduction loans. Additional installments should follow. Finacity developed the program in coordination with Africa-based financial advisor Africa Growth Capital.
About Express Credit Group
Express Credit Group operates specialized financing activities in several African countries, including Botswana and Namibia. Express Credit offers consumers payday deduction loans, unsecured loans and secured home loans. Charlotte Mathula, CEO of Express Credit Botswana, said that “the new loan financing program improves our liquidity and our ability to serve our clients. Express Credit Botswana anticipates an additional loan request which could be supported by this new facility. “
About Finacity, a White Oak Company
Finacity, a White Oak company, specializes in structuring and delivering effective debt financing programs in the capital markets, vendor and debt financing, safeguard services and bond administration. Finacity currently facilitates the financing and administration of an annual debt volume of approximately US $ 100 billion. With resources in the United States, Europe, Latin America and Asia, Finacity operates worldwide with debtors in 175 countries. Finacity is affiliated with White Oak Global Advisors, LLC, a leading alternative debt manager specializing in creating and delivering financing solutions to facilitate the growth, refinancing and recapitalization of small and medium businesses. For more information, please visit www.finacity.com.
About White Oak Global Advisors
White Oak Global Advisors, LLC (“WOGA”), along with its financing subsidiaries, provides more than twenty market lending products, including term, asset and equipment loans, to all sectors of the economy. Since its inception in 2007, WOGA and its affiliates have deployed more than $ 9 billion across its product lines, using a disciplined investment process that focuses on providing risk-adjusted investment returns to investors throughout by establishing long-term partnerships with our borrowers. More information can be found at www.whiteoaksf.com.
For more information on this transaction, please contact:
FINACITY CORPORATION, a White Oak company
Phone. : +1 203 428 3511
Mobile +1 917-833-1827