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Press releases, news mentions and more
We’ve been praised for helping small and mid-sized businesses across all industries that have been underserved by other lending institutions.
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Q4 and Q3 2018 set new quarterly financing highs for the company
CORAL SPRINGS, Fla. (Jan. 22, 2019)—BFS Capital, a leading small business financing platform, today announced it has now issued more than $2 billion in financing to over 22,000 small businesses across the United States, Canada and, through its United Kingdom subsidiary, Boost Capital.
BFS Capital provides financing from $5,000 to $500,000 to merchants across more than 400 industries, and demand for the company’s products continues to grow. In 2018, fourth-quarter originations were the highest quarterly originations ever in the company’s 17-year history. Third-quarter originations also represented the best third quarter ever for the company.
“This is a major originations milestone. In 2018 we enhanced our sales and marketing programs and made significant advances in our underwriting models so that we could better serve small businesses. We’re incredibly proud to see these investments take root, as BFS Capital continues to solidify its position as a central source for financing small businesses and their everyday capital needs,” said Mark Ruddock, CEO of BFS Capital. “We’re enthusiastic about expanding the breadth of our financial solutions in 2019 as we strive to offer innovative tools designed to help small businesses across North America and the UK achieve their potential.”
The $2 billion origination marker follows the hiring of Ruddock as CEO in November and an expanded management team that includes Chief Risk Officer Eric Weiner, responsible for advancing new credit models to drive financing growth; Chief Marketing Officer Sheri Chin, who is leading the B2B and B2C marketing strategy and go-to-market programs; and Chief Legal Officer and Chief Compliance Officer Corey Manley, who leads the legal and compliance functions.
Earlier this month, Boost Capital refinanced and renewed its existing credit facility with New York-based investment firm Atalaya Capital Management, increasing its funding capacity by 50% to $60 million from $40 million to support continued growth of the company’s financing solutions.
For more information, visit: www.BFSCapital.com.
About BFS Capital
BFS Capital champions the long-term growth and prosperity of small businesses by providing timely, flexible financing solutions. BFS Capital’s leading small business financing platform leverages customized underwriting and proprietary algorithms to fund businesses in the United States, Canada, and through its United Kingdom subsidiary, Boost Capital. Since 2002, BFS Capital has provided $2 billion in total financing to over 22,000 small businesses across more than 400 industries. Headquartered in South Florida with offices in New York, California and the United Kingdom, BFS Capital is an accredited BBB company with an A+ rating.
About Atalaya Capital Management
Atalaya Capital Management is a privately held, SEC-registered alternative investment advisory firm. Atalaya focuses on making private credit and special opportunity investments across three principal asset classes — specialty finance, real estate, and corporate. Founded in 2006 and headquartered in New York City, Atalaya has approximately $4 billion in assets under management.
Archie Group for BFS Capital
Ruddock brings 20 years of financial and technology leadership experience
CORAL SPRINGS, FLA. (November 28, 2018)—BFS Capital, a leading originator of small business financing in the U.S., U.K. and Canada, announced today the appointment of Mark Ruddock as Chief Executive Officer, effective immediately. He will also join the company’s Board of Directors.
“Mark has an outstanding track record of transforming financial services and technology companies by accelerating their innovation and business growth. His diversity of experience, from founder to growth stage executive, across a wide variety of industries and geographies makes him an exceptional choice for BFS Capital at such a pivotal stage in our evolution,” said Marc Glazer, co-founder of BFS Capital. Mr. Glazer will continue to serve as Chairman of the Board of Directors.
A veteran entrepreneur and internationally experienced executive, Ruddock brings two decades of leadership to the role. An accomplished thought leader, his expertise spans many industries, including enterprise software, mobile applications and online financial services. He joins BFS Capital after completing a mandate as interim CEO of 4finance, Europe’s largest online and mobile consumer lender.
“BFS Capital is at an exciting point in its evolution. I look forward to working with Marc, the board and the management team to help realize the company’s potential as we reimagine how BFS Capital will serve the unique financial needs of small businesses in a rapidly evolving digital economy.” said Ruddock.
Prior to 4finance, Ruddock played important leadership roles across a variety of industries. He was founder and CEO of INEA Corporation, an enterprise software firm focused on the financial services industry which was acquired in 2005. Following INEA, he became CEO of mobile software company Viigo, which he transformed into a multiple-award winning company, whose flagship app became one of BlackBerry’s most downloaded apps of all time by the time the company was acquired by RIM (Blackberry) in 2010. Following Viigo, Mr. Ruddock became the Managing Director, International at Wonga Group, and was responsible for overseeing all businesses outside of the UK, including the consumer lending businesses in Canada, Spain, Poland and South Africa and the eCommerce and product financing business BillPay in Germany. During his tenure, Wonga International developed exciting new products, and grew to over 50 percent of the company’s lending volume. He then joined Finstar Financial Group as CEO of Finstar Labs, their FinTech incubator and corporate innovation arm, before agreeing to step in as interim CEO of 4finance.
To learn more, please visit BFSCapital.com.
BFS Capital champions the growth and prosperity of small businesses by providing smart, reliable, best-in-class financing solutions. BFS Capital’s leading small business financing platform leverages customized underwriting and proprietary algorithms to fund businesses in all 50 states and Canada, and through its affiliate, Boost Capital, in the United Kingdom. Since 2002, BFS Capital has delivered over 40,000 financings across 400 industries totaling more than $1.9 billion. Headquartered in South Florida with offices in New York, California and the United Kingdom, BFS Capital is an accredited BBB company with an A+ rating. Respondents to Trust Pilot consistently score BFS Capital small business loans and merchant cash advances with a 5-Star rating. For more about our financial solutions please visit www.BFSCapital.com (U.S., Canada) and www.BoostCapital.co.uk (U.K.).
Marc Glazer, chairman and interim CEO of BFS Capital, talks about how SMB lending has changed and where he sees the industry heading. Throughout his career, there have been dramatic shifts in the online lending space and Marc shares how intellectual property combined with technology can deliver differentiated value to merchants. Click here to listen to the podcast or read the transcript.
CORAL SPRINGS, FLA., September 26, 2018 — BFS Capital, a leading originator of small business financing, will be sponsoring and speaking at key industry and partner events over the next month including deBanked CONNECT San Diego October 4, the National Alliance of Commercial Loan Brokers’ (NACLB) annual conference on October 16-18 and Money20/20 on October 21-24.
BFS Capital is attending these events to expand existing relationships and forge new connections with Independent Sales Organizations (ISOs) and strategic partners. BFS Capital executives look forward to exploring partnership opportunities with other organizations that are committed to empowering small business success. Company representatives will participate in panel discussions, press interviews and networking events to discuss the small business loan and working capital landscape and how BFS Capital and its partners can provide responsible and right-fit financing solutions and support.
“We continue to make significant investments in our technology and solutions to ensure that we maintain our leadership position as one of the industry’s top underwriters and as a key strategic partner to ISOs. We look forward to connecting with current and future business partners to discuss their needs and collaborate on delivering superior servicing touchpoints, including a simple application, same-day decision and reliable funding,” said Marc Glazer, Executive Chairman of BFS Capital.
BFS Capital continues to advance its multi-tiered strategy to strengthen the ISO and end-customer experience, expand and customize financing solutions available to partners and their customers, and further innovate its digital platforms, machine learning and algorithmic-driven capabilities.
“In an industry that can have many ebbs and flows, we take great pride in being known as a responsible lending partner and excellent customer service provider. We aim to attract and grow relationships with strategic partners including ISOs and service providers who value these qualities and want to serve the unique needs of small businesses,” Glazer said.
On October 4, in San Diego, BFS Capital will attend and sponsor deBanked CONNECT, the conference that brings together brokers, funders and other participants in the merchant cash advance (MCA) and small business lending industry. BFS Capital executives will share their philosophy and how the company serves small business communities. Ilya Fridman, Head of Sales at BFS Capital, will participate on a panel discussion focused on ISO best practices.
From October 16-18, in Miami, BFS Capital will be the official conference WiFi Sponsor at the National Alliance of Commercial Loan Brokers’ (NACLB) fourth annual conference. More than 800 of the nation’s top commercial loan brokers, lenders and service providers are expected to attend.
BFS Capital executives will speak on the NACLB general session panel about the state of lending and will join breakout session to discuss alternative lending, small business loans and the merchant cash advance solution. They will also be on hand to speak with commercial loan brokers and ISOs at Booth #39.
On October 21-24, in Las Vegas, BFS Capital will attend Money 20/20 and is currently scheduling meetings with potential partners.
BFS Capital executives welcome the opportunity to connect with current and potential partners. Please email email@example.com to schedule an appointment in advance of the upcoming conferences.
BFS Capital champions the growth and prosperity of small businesses by providing smart, reliable, best-in-class financing solutions. BFS Capital’s leading small business financing platform leverages customized underwriting and proprietary algorithms to fund businesses in all 50 states and Canada, and through its affiliate, Boost Capital, in the United Kingdom. Since 2002, BFS Capital has delivered over 40,000 financings across 400 industries totaling more than $1.9 billion in total financing. Headquartered in South Florida with offices in New York, California and the United Kingdom, BFS Capital is an accredited BBB company with an A+ rating. Respondents to Trust Pilot consistently score BFS Capital small business loans and merchant cash advances with a 5-Star rating . For more about our financial solutions please visit www.BFSCapital.com (U.S., Canada) and www.BoostCapital.co.uk (U.K.).
BFS Capital, a leading small business financing platform, today announced it is has received a new $175 million revolving credit line provided by funds managed by Ares Management, L.P. BFS Capital will use the new facility to accelerate the growth of its lending business, following a record year where the company generated more than $300 million in originations, a new annual high.
“We’re very pleased to increase our financing capacity. The new facility helps us to meet customer demand following a record year in originations and accelerate our expansion and market share growth across key geographies,” said Michael Marrache, CEO, BFS Capital.
The facility is one of the first announced in 2018 by a balance sheet business lender. The increase in financing capacity is also the latest in a series of milestones for BFS Capital, which marked its 15th anniversary year in 2017. During the year, the company named Michael Marrache as CEO and announced it had extended over $1.7 billion in financing in the U.S., U.K. and Canada since funding its first loan in 2002.
“The market continues to appreciate our small business customer focus. Our strategic partners, such as ISOs, also commend us for our data and underwriting expertise—based on 15 years of financings across multiple economic cycles—which enables us to better anticipate the future performance of our financings. As BFS Capital continues to grow, we’ll make further investments in our product lineup, technology platform and customer servicing to become a one-stop financing resource for small businesses across our footprint,” said Marrache.
Stephens Inc. acted as financial advisor to BFS Capital Inc. in this transaction.
BFS Capital champions the growth and prosperity of small businesses by providing timely, flexible financing solutions. BFS Capital’s leading small business financing platform leverages customized underwriting and proprietary algorithms to fund businesses in all 50 states and Canada, and through its affiliate, Boost Capital, in the United Kingdom. Since 2002, BFS Capital has provided more than $1.7 billion in total financing to more than 20 thousand small businesses across more than 400 industries. Headquartered in South Florida with offices in New York, California and the United Kingdom, BFS Capital is an accredited BBB company with an A+ rating. Respondents to Trust Pilot score BFS Capital with a 5-Star rating. For more, please visit www.BFSCapital.com (U.S., Canada) and www.BoostCapital.co.uk (U.K.).