A Trusted Source of Fast, Flexible Financing for Small Businesses: Forward Financing

In the dynamic landscape of financial technology, Forward Financing has emerged as a beacon for small businesses seeking accessible and flexible funding solutions. Founded in 2012 by Justin Bakes, the Boston-based company has steadfastly pursued its mission to provide fast, flexible capital to U.S. small businesses that have been underserved by traditional financing options. Over the past decade, Forward Financing has achieved remarkable milestones. The company has provided over $3 billion in funding to more than 65,000 small businesses across the United States. This substantial financial support has empowered entrepreneurs to overcome challenges, seize growth opportunities, and contribute positively to their communities.

A significant portion of Forward Financing's clientele operates in Low-to-Moderate Income (LMI) areas, highlighting the company's commitment to fostering economic development in underserved regions. By offering revenue-based financing, Forward Financing delivers an upfront sum of working capital in exchange for a set amount of the business’s future revenue. This model ensures that payments align with the business's cash flow, providing flexibility during fluctuating economic conditions.

Innovative Approach to Financing

Forward Financing's success is rooted in its innovative approach to small business financing. The company leverages advanced proprietary technology to simplify requirements and streamline the funding process. This enables them to deliver approvals within hours and, in many cases, provide funds on the same day. Such efficiency is crucial for small businesses that require immediate capital to manage operations, invest in growth, or navigate unforeseen challenges.

The company's revenue-based financing model is particularly appealing to small businesses. Unlike traditional loans that require fixed payments, Forward Financing's model ties payments to a percentage of the business's revenue. This means that during periods of lower revenue, businesses pay less, alleviating financial strain. Additionally, interest does not accrue, providing a transparent and predictable repayment structure.

Customer-Centric Philosophy

At the heart of Forward Financing's operations is a customer-centric philosophy. The company prides itself on offering superior customer service, ensuring that clients feel knowledgeable and supported throughout the financing process. This dedication has earned Forward Financing an A+ rating from the Better Business Bureau and an Excellent / 4.7 stars rating on Trustpilot.com.

Customer testimonials further underscore the company's positive impact. Bob Garrett, owner of Necessary Tires, shared, "Knowing that financially, I'm secure, it makes a big difference. There's really no limit to what we can achieve with them helping us." Such stories reflect the trust and confidence that small business owners place in Forward Financing as a reliable partner in their entrepreneurial journey.

Strategic Leadership and Growth

In January 2025, Forward Financing welcomed Jason Mullins as its new President and Chief Executive Officer. Mullins brings over twenty years of financial services experience, including six years as the CEO of a high-growth consumer lending business. His proven track record of driving results and innovation positions him to lead Forward Financing through its next stage of growth and transformation. Co-founder and former CEO, Justin Bakes, has assumed the role of Executive Chairman, continuing to provide strategic guidance as the company advances its mission.

Under Mullins' leadership, Forward Financing is poised to expand its impact, providing even more small businesses with the capital they need to achieve their full potential. This leadership transition marks a new era of potential for the company, its partners, and its small business customers.

Commitment to Employee Excellence

Forward Financing's success is also attributed to its talented and dedicated team. The company employs over 460 people, with more than 200 based in the United States and over 260 in the Dominican Republic. As a 100% employee-owned company, Forward Financing fosters a culture of ownership and accountability. This commitment to employee excellence has earned the company recognition as a Best Place to Work by Built In Boston and certification as a Great Place to Work®.

The company's core values—Drive the Mission, Keep It Real, Act With Kindness, and Shoot for Extraordinary—are deeply ingrained in its culture. These values guide employees in their daily interactions and decision-making processes, ensuring that the company's mission aligns with its actions.

Future Outlook

Looking ahead, Forward Financing is well-positioned to continue its trajectory of growth and innovation. In September 2024, the company announced an expansion of its existing credit facility from $250 million to $450 million. This significant increase in capital will support continued funding volume growth and enable Forward Financing to assist more small businesses in need of working capital.

As the financial landscape evolves, Forward Financing remains committed to its mission of providing financial opportunity to underserved small businesses. With a customer-centric approach, innovative financing solutions, and a dedicated team, the company is poised to make an even greater impact in the years to come.

In a world where small businesses often face significant hurdles in accessing capital, Forward Financing stands out as a trusted partner, offering the financial support and flexibility that entrepreneurs need to thrive. As the company embarks on its next chapter under new leadership, it continues to exemplify the power of combining technology, innovation, and a deep commitment to customer success.

Jason Mullins, President & CEO

“Every business deserves financial opportunity. That’s why Forward Financing provides capital to small businesses that may not be able to get it elsewhere.”