Revolving Asset Backed Facility Supports Future Portfolio Growth


STAMFORD, Conn., April 18, 2023 - Bastion Management ("Bastion"), a private investment firm focused on asset-based lending in the specialty finance sector, announced today that it has agented a $100 million senior debt facility for NexGen Financial Inc. ("NexGen") to support the continued growth of its portfolio. Bastion Management and Hudson Cove Capital Management have provided the funding.

NexGen partners with top debt settlement sales affiliates and servicing companies nationwide, providing working capital to cover sales and marketing expenses and to enable business growth.

NexGen's CEO, James Shanahan commented, "Bastion's ability to understand our business was far greater than anyone we had come across prior. That understanding translated into a partnership that has taken our business to the next level. We thank Bastion and Hudson Cove as we grow our business and our partnership with both."

Tim Reimink, Partner at Bastion, added, "We are extremely excited about the opportunity to continue our partnership with NexGen and its talented management team."

About Bastion Management
Bastion Management ("Bastion") is a private investment firm based in Stamford, Connecticut, focused on providing creative financing solutions to small and midsized businesses operating in the specialty finance space. Bastion has a successful track record of partnering with companies with strong management teams and committed equity backing to support company growth from the initial growth stage through public listing.

About NexGen
NexGen Financial Inc. works closely with sales affiliates and servicers to assist consumers with debt settlement across various creditors. Based in Malibu, California, NexGen partners with debt settlement sales affiliates and servicers who operate in all 50 states.

SOURCE Bastion Management