Fortun Advance sees a 245% increase in business advances, projecting substantial revenue growth.

From GlobeNewswire: 2024-08-27 08:45:00

Luminar Media Group, Inc. boasts exceptional growth in Business Advance operations, with total assets reaching $1,209,237.39 as of August 23, 2024. The company projects $1,651,953 in gross receivables and $298,904 in fee income for July-September 2024, following its strategic acquisition of Fortun Advance.

Following its recent acquisition of FortunCo and Fortun Advance, LRGR reported $74,900 in business fundings by June 30, 2024. July 2024 saw Fortun Advance achieve an impressive 245% growth in Business Advances, funding $258,700 and generating $77,540 in commission and fee income revenue.

As of August 23, 2024, Fortun Advance funded $271,000 for the month, leading to additional gross receivables of $403,790 and $70,824 in commission and fee income. The company remains on track to meet its $350,000 funding projection for August, marking a 35% increase over July.

Fortun Advance doubled its funding operations staff in August to accommodate rapid growth, tallying over 100 closed transactions by August 23, 2024. The company has funded $604,600 since June 2024, with projections indicating $1,108,693 in total revenue-based funding by the end of Q3 2024.

The company has secured a $1 million funding commitment for deployment in September, expanding its portfolio and reinforcing its market position. Fortun Advance’s nationwide geographic reach has extended across key states like Florida, showcasing substantial growth and market demand for its services.



Read more at GlobeNewswire:: Fortun Reports a 245% Surge in Business Advances Since June