MoneyLion Inc., a digital ecosystem for consumer finance that empowers everyone to make their best financial decisions, today announced that it has successfully closed a $70 million loan facility with Silicon Valley Bank, a division of First-Citizens Bank & Trust Company (“SVB”), to refinance MoneyLion’s existing senior debt and lower its cost of capital. Although MoneyLion’s existing senior debt was not set to mature until 2026, the Company’s strong financial standing created an opportunity to secure refinancing on substantially improved terms through a premier banking partner.

Summary of the new credit agreement with SVB:

• $70.0 million aggregate principal amount of term loans (the “Initial Term Loans”), which were drawn today; and
• Proceeds of the Initial Term Loans were used to repay in full the approximately $65.0 million aggregate principal amount outstanding under the Company’s existing loan facility, including accrued and unpaid interest and related fees, to pay transaction-related fees and expenses, and for ongoing working capital and general corporate purposes.

“This refinancing marks an important milestone in MoneyLion’s evolution as we advance our mission to empower consumers with innovative financial solutions, now with a stronger and more flexible balance sheet commitment from a reputed bank partner in Silicon Valley Bank,” said Dee Choubey, MoneyLion’s Co-Founder and Chief Executive Officer.

“By lowering our cost of capital and extending our debt maturity, we’ve strengthened our financial position. This enables us to accelerate organic investments in innovation, expand our ecosystem, and position MoneyLion to scale rapidly and efficiently as we become the number one place for financial decisions,” said Rick Correia, MoneyLion’s President and Chief Financial Officer.