BMG Money Secures $150 Million Credit Facility From ATLAS SP

BMG Money closes on new source of funds to diversify its product offering and support its growing customer base

MIAMI, FL, UNITED STATES, January 29, 2025 /EINPresswire.com/ -- BMG Money today announced the launch of a $150 million funding facility provided by ATLAS SP, a global investment firm. This strategic partnership will provide BMG Money with a flexible and more efficient source of capital to fund its platform. The facility is part of a strategic initiative to scale effectively, allowing the company to offer access to more affordable credit alternatives to financially underserved consumers across the United States.

Since 2011, BMG Money has been dedicated to helping public and private sector employees through employment-based lending solutions. The company provides access to emergency loans with instant funding options to individuals who have been turned away by traditional financial institutions. BMG Money's unique approach addresses the needs of those burdened or limited by their FICO scores. Unlike conventional lenders, BMG Money does not consider FICO scores during the credit decision process. Instead, loan approvals are based on employment status. This inclusive lending philosophy means employees can apply regardless of their credit score, as BMG Money believes consumers are more than just a number.

The innovative LoansAtWork program, lender WebBank, provides access to emergency loans at rates less than one-tenth the cost of many alternatives. Not only is this beneficial for individuals, but also employers, where one in five employees admit that productivity at work has been impacted by financial challenges. According to the Harvard Business Review, an estimated $150 billion in productivity is lost each year due to stressed employees.

According to Kieran Noonan, President & CEO at BMG Money, “This partnership with ATLAS marks a pivotal moment in our mission to alleviate employee financial stress. With this credit facility, we are better positioned to provide a solution to those who may be struggling and offer them access to a lifeline of responsible financing options.”

“Consumer debt levels are at a record high, putting many individuals at the brink of a financial crisis," Noonan continued. "This facility gives BMG the funding source and flexibility we need to address growing demand from customers who are in critical need of fair and affordable credit options.”

About BMG Money
Headquartered in Miami, FL, BMG Money has offered employment-based lending solutions since 2011 to help public and private sector employees that have been overlooked by traditional financial institutions and are struggling to overcome archaic methods of determining credit worthiness. Currently operating in 39 states plus the District of Columbia, BMG Money's mission is to enhance the financial wellness of its customers through a combination of financial education, credit monitoring solutions, and emergency loans, providing the tools necessary for a secure financial future. For more information, please visit www.bmgmoney.com.

About ATLAS SP
ATLAS SP is a global investment firm providing stable capital, financing, advisory and institutional products to market participants seeking innovative and bespoke structured credit and asset backed solutions. We're proud to build upon a legacy of client excellence that includes certainty of execution, deep expertise and full-service capabilities across the asset management landscape. For more information, visit www.atlas-sp.com.

Mary York
For BMG Money
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