Fortun Holdings Secures $10 Million Non-Dilutive Credit Facility

Fortun Holdings, a financial technology company focused on providing revenue-based financing to underserved small businesses, has taken a significant step towards expanding its funding capacity. The company has signed a term sheet for a proposed $10 million non-dilutive senior secured credit facility, with an accordion feature that could increase the facility up to $30 million.

According to the term sheet, the initial facility size is set at $10 million, with the potential to expand in $5 million increments. The company plans to use the initial draw of up to $2 million to support the continued expansion of its small-business funding activities and portfolio growth. Following the closing of the facility, Fortun would be able to request additional draws ranging from $500,000 to $2 million, subject to the applicable borrowing base, eligibility criteria, and other conditions.

Fortun Holdings CEO, Yoel Damas, commented, "Approximately six months ago, we announced that we had begun evaluating potential non-dilutive institutional credit facilities to expand our funding capacity without relying on equity issuance. The process has resulted in a signed term sheet that contemplates an initial facility size of $10 million, with an accordion feature allowing the facility to increase to as much as $30 million, without issuing equity. This is a meaningful result from the process we began earlier this year."

The proposed facility is structured as non-dilutive debt financing, meaning no Fortun common stock, warrants, or other equity securities will be issued. The credit will be provided through a bankruptcy-remote special purpose subsidiary (SPV) wholly owned by Fortun, secured by the SPV's assets, including eligible receivables pledged to the facility. This structure is designed to preserve Fortun's flexibility to pursue additional financing and capital-markets opportunities in the future.

Juan M. Sese, Chief Financial Officer of Fortun Holdings, added, "From a capital structure perspective, we believe the proposed facility is aligned with our financing strategy because it is designed to allow Fortun to increase its funding capacity without issuing additional equity. The borrowing-base structure aligns access to capital with the growth of eligible receivables, allowing the facility to potentially scale alongside the portfolio."

The lender has already reviewed Fortun, its operations, and its receivables portfolio, with the initial diligence resulting in the issuance of the term sheet. The parties are now proceeding through the post-term-sheet diligence and definitive documentation process. Based on current discussions, the proposed facility is expected to close in November 2026.

Fortun Holdings, Corp. is a financial technology company focused on providing revenue-based financing solutions to underserved small businesses. Through its operating subsidiaries and technology-enabled underwriting and servicing platform, Fortun seeks to provide efficient access to growth capital while building a scalable financial services platform.