Investment from Community Investment Management provides up to $150 million of debt funding for Salary Finance over the next three years.
BUSINESS WIRE)–Salary Finance, the leading global provider of financial education and salary-linked benefits for employees, announced a new round of funding today from Community Investment Management (CIM). The investment of $150 million over the next three years will be used to help fund low-cost loans for working Americans struggling with financial stress.
“Americans are facing unprecedented financial stress due to COVID-19 and the worst economic recession since the Great Depression,” Dan Macklin, CEO, Salary Finance Inc., said. “Many don’t have enough money to make ends meet. The federal government is providing relief, but it’s not enough for those who have lost income or had family members lose their jobs. Working with progressive employers who empathize with the financial stresses facing their employees, we are committed to getting millions of Americans out of debt and into savings and helping those communities that so desperately need financial assistance.”