Chowder secures $25 million credit facility with Coromandel Capital | News

ATLANTE, March 17, 2022 /PRNewswire-PRWeb/ — Chowder, a home improvement-focused FinTech company that provides flexible payment options to cash-strapped and credit-strapped homeowners, secured its first credit facility with Coromandel Capital. This $25 million installation, with the ability to scale, allows Chowder to scale its network of contractors, distributors and manufacturers faster. Chowder will also be able to expand its flexible payment options to the more than 25 million homeowners who have limited or no access to credit for vital home improvement purchases.

About 1 in 2 homeowners are turned down by traditional financing options when applying for home improvement projects. With an 86% approval rating, Chowder’s rent-to-own program offers consumers flexible payment options for HVAC, water treatment systems, fencing and other contractor-critical home systems participating home improvement companies.

“The ability to close Chowder’s first credit facility speaks volumes about the progress we’ve made over the past year. The team at Coromandel Capital has been nothing short of amazing to work with,” said Danny Collierco-founder and CEO, Chowder

“We are thrilled to partner with Chowder. The team is deeply rooted in critical specialist finance and FinTech functions, and addresses unmet needs in large markets,” said Rob McGregorco-founder and managing partner, Coromandel Capital.

For more information about Chowder, please visit http://www.chowderfinancial.com

For more information on Coromandel Capital, please visit http://www.coromandelcapital.co

Chowder, a private company headquartered south of Atlanta with offices at Costa Rica, is a FinTech company providing flexible home improvement payment options for cash-strapped and credit-strapped homeowners. Leveraging proprietary technology, automation and an 86% customer approval rating, Chowder’s core platform enables cash-strapped and credit-strapped homeowners to access home improvement systems essentials they need and helps entrepreneurs close more sales.

Coromandel provides flexible, non-dilutive growth capital via senior secured lines of credit and term loans to specialty finance companies and FinTechs that otherwise do not conform to traditional bank and other credit boxes financial intermediaries. A true partner, as opposed to a passive check, Coromandel enables its clients to obtain better terms over time, as well as operational advice and outsourced capital markets.

Media Contact

Erika O’ReillyChowder, 1 6785774206, [email protected]

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