Mulligan Funding Closes $120 Million Securitization

Mulligan Funding's San Diego headquarters.

The closing of this securitization is another important step forward for Mulligan Funding, and underscores our commitment to continued growth through a disciplined approach to credit management.”

— David Leibowitz

SAN DIEGO, CA, UNITED STATES, December 3, 2024 /EINPresswire.com/ -- Mulligan Funding, a premier provider of access to working capital, has announced the closing of a second asset-backed securitization (ABS) totaling $120 million. This milestone securitization, expandable up to $500 million, follows the successful issue of the Company’s first securitization in 2023 for $100 million. The senior class of notes issued in this securitization achieved an A rating from Kroll Bond Rating Agency (KBRA) as of October 25, 2024.

Founded in 2008 during the height of the financial crisis, Mulligan Funding has served as a vital source of access to working capital for businesses unable to obtain funding from large, traditional banks in a timely fashion. As a private, family-owned business, Mulligan Funding has provided access to over $1.7 billion in funding to small and medium-sized businesses nationwide.

David Leibowitz, chief executive officer and co-founder of Mulligan Funding, shared: “The closing of this securitization is another important step forward for Mulligan Funding, and underscores our commitment to continued growth through a disciplined approach to credit management. In an environment increasingly filled with risk-averse investors, we’re pleased with the ratings afforded to these notes by KBRA. Additionally, we’re grateful, once again, for the expert guidance and assistance from Guggenheim Securities.”

About Mulligan Funding

Headquartered in San Diego, Mulligan Funding is a leading provider of access to working capital ($10k - $2M) to the small and medium-sized businesses that fuel our country. Since 2008, the company has provided access to over 26,000 loans and $1.7 billion in funding. Through their unique ability to combine technology, a human touch, and unwavering integrity, Mulligan Funding helps those they serve to bring their dreams to fruition with their people-first culture.

Milad Hassibi
Mulligan Funding
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Distribution channels: Banking, Finance & Investment Industry

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