Salary Finance Secures $150M Debt Facility from Community Investment Management to Scale US Lending

Salary Finance has secured up to $150M (approximately £108M at spot rates) in debt funding from Community Investment Management (CIM), to be deployed over three years to expand affordable lending to working Americans.

This is a debt facility rather than an equity round — CIM is an institutional impact investment firm that provides strategic debt funding to scale responsible innovation in lending to underserved communities. The capital will fund low-cost loans for US employees using Salary Finance's payroll-deduction model.

The announcement landed against the backdrop of the COVID-19 economic recession, with US employees facing unprecedented financial stress. Salary Finance partners with over 600 employers globally and is a United Way Worldwide corporate partner.

Dan Macklin, CEO of Salary Finance Inc., said the funding validated the company's payroll deduction model and would enable it to provide affordable credit to thousands more employees. Co-founder Asesh Sarkar leads the group as Global CEO from London.