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Media Room

Press releases, news mentions and more

At BFS Capital, we’ve been helping small businesses grow and prosper since 2002.

We’ve been praised for helping small and mid-sized businesses across all industries that have been underserved by other lending institutions.

Our media room lets you keep on top of our latest happenings including our press releases, company news and mentions in local and national media outlets.


Press Releases and Announcements

BFS Capital and Mulligan Funding Join Innovative Lending Platform Association
May 23, 2019

ILPA members have now helped more than 600,000 U.S. small businesses access over $21 billion of capital.

WASHINGTON, May 17, 2019 — The Innovative Lending Platform Association (ILPA), anindustry-leading association of small business online financing and service companies, todayadded BFS Capital and Mulligan Funding as its newest members committed to providing smallbusinesses with fully-transparent and easy-to-understand online financing disclosures. The newmembers signify continued growth of one of the largest associations of online financingcompanies. ILPA membership has collectively provided more than $21 billion of capital to over600,000 U.S. small businesses.

The ILPA members pioneered the SMART Box™, the industry’s gold standard for smallbusiness financing disclosure. Members commit to providing small businesses a straightforwardand consistent overview of the costs associated with a loan or other financing product, includingthe annual percentage rate (APR), average monthly payment, “cents on dollar” amount ofinterest, and the total cost of capital (TCC), which reflects the “all-in” cost of the financing,including interest and any fees.

The result is a disclosure system that allows small business owners to accurately assess andcompare financing products to make the best choice for their business.

“Mulligan Funding’s core values and objectives revolve around developing the kind ofrelationships which depend on mutual trust. We understand that trust can’t be earned withoutgenuine transparency,” said David Leibowitz, Mulligan Funding CEO. “That’s why the ILPA,with its core focus on transparency and ethical best practices, is a natural fit for the way we dobusiness. We know the working capital we provide is the lifeblood of many small and mid-sizedbusinesses. It helps to create jobs across America and drive the economy forward. But, we alsoknow that the way in which we provide that capital is often as important as the capital itself. Ourpartners at the ILPA share that view completely.”

“BFS Capital is committed to being both a responsible and an innovative lender. Ourmembership in the ILPA allows us to work with industry leaders who are dedicated to advancingstandards and best practices in the critical small business lending marketplace,” said BFSCapital CEO Mark Ruddock. “As we continue to help business owners gain access to capitalthat fits their unique needs, we believe that clarity and transparency is critical in helping themmake educated and informed financial decisions.”

“Adding the new members to the ILPA helps develop consistent disclosures for smallbusinesses comparing financing options,” said ILPA CEO Scott Stewart. “We applaud MulliganFunding and BFS Capital for committing to adopt fair and transparent disclosure best practicesto ensure small businesses are well informed when seeking funding.”

About the ILPA
The Innovative Lending Platform Association (ILPA) is the leading trade organizationrepresenting online lending and service companies serving small businesses. United by a shared commitment to the success of small businesses in America, the ILPA advances bestpractices and standards that support responsible innovation and access to capital for smallbusinesses. In 2016, the ILPA, in partnership with the Association for Enterprise Opportunity,introduced the SMART Box™, which stands for “Straightforward Metrics around Rate and Totalcost,” in 2016. The SMART Box is a first-of-its-kind model pricing disclosure and comparisontool focused on empowering small businesses to better assess and compare finance options.The SMART Box is available for broader adoption by lending platforms. Additional informationabout the ILPA and the SMART Box initiative is available at: www.innovativelending.org

BFS Capital Appoints Fred Kauber as Chief Technology Officer and Chief Product Officer
May 23, 2019

Accelerates digital transformation and expands management team of small business financing platform

CORAL SPRINGS, FL—May 23, 2019—BFS Capital, a leader in small business lending, today announced the appointment of Fred Kauber as Chief Technology Officer and Chief Product Officer. As a member of the management team reporting to CEO Mark Ruddock, Kauber will be responsible for leading a customer-focused product and technology organization whose mission is to help BFS re-imagine financial services for small businesses.

Kauber brings more than two decades of experience in the financial services industry and has a strong track record of leadership in technology, product management, marketing and operations. Most recently, he served as Chief Technology Officer and Chief Marketing Officer at CAIS Group, a fintech marketplace platform, where he led platform development and corporate marketing initiatives.

“At BFS Capital, our mission is to leverage advanced technology and data science to unlock exciting new financial products and services for underserved small businesses, and I’m confident that Fred is the right person to advance both our vision and our capabilities in this regard,” said Mark Ruddock, CEO, BFS Capital.

Prior to CAIS Group, Kauber was CTO at TRANZACT, where he launched autoinsurance.com and directhealth.com, both joint ventures with Walmart, and helped facilitate TRANZACT’s acquisition by White Mountain in 2014. He has also held C-level and senior leadership roles at Fortune 500 firms and entrepreneurial ventures in the financial services and technology industry, including Entitle Direct Group, First Data Corporation, Dun & Bradstreet and IBM Corporation. Kauber also teaches enterprise technology strategy as an adjunct professor in the graduate program of the NYU School of Professional Studies and mentors aspiring technology leaders and entrepreneurs in the NYU Future Labs and Columbia University Technology Management programs.

“Small business owners are increasingly seeking compelling and empowering digital experiences that can help them unlock access to critical financial services in an on-demand, personalized manner. I’m excited to join the BFS Capital team to help drive the technology and product transformation that will position the company as an agile, innovative provider of financing as well as broader financial solutions,” said Fred Kauber, CTO and Chief Product Officer, BFS Capital.

Kauber graduated from Manhattan College with a BS in Computer Science and received his MBA from New York University’s Stern School of Business. He also holds an MS in Telecommunications from Pace University. He is a Certified ScrumMaster (CSM), has been trained as a Six Sigma Black Belt and is a member of the Forbes Technology Council.

Mark Ruddock joined BFS Capital in November as CEO following seven years of global leadership roles in digital consumer lending, most recently as interim CEO of 4finance, an on-line lender with operations in 17 countries. BFS Capital provides financing from $5,000 to $500,000 to merchants across more than 400 industries. In 2018, the company surpassed $2 billion in originations to small businesses in the U.S., Canada and the U.K. through U.K. subsidiary Boost Capital.

To learn more, please visit 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 over $2 billion in total financing to over 23,000 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.

Media Contact
Archie Group for BFS Capital
Gregory Papajohn
gregory@archiegroup.com
917.287.3626

BFS Capital to Join deBanked’s Broker Fair 2019 Speakers’ Lineup
May 2, 2019

BFS Capital executives, including CEO Mark Ruddock and Head of Sales Ilya Fridman, will speak at Broker Fair 2019 in New York City on May 6.

Presented by deBanked, Broker Fair brings together hundreds of small business finance brokers, ISOs, lenders and service providers who will convene at New York City’s Roosevelt Hotel for education, inspiration and opportunities to connect and grow their business.

BFS Capital is once again a Gold Sponsor of the event.

“Broker Fair is the ‘must attend event’ for ISOs and brokers, and we look forward to sharing a number of exciting new initiatives we’re working on at BFS. I’ll be speaking on a panel with our peers to discuss trends we’re seeing across the industry, as well as tackle our partners’ most pressing questions,” Ruddock said.

Ruddock will participate in Broker Fair’s most popular panel, The Great Debate, where industry leaders come together to debate the issues and spar over strategy. Fridman will speak at a breakout session, Underwriter vs. Sales, where both sides will share their thought processes to break down barriers between risk management and sales—with the goal of helping companies get more good deals funded. Both Ruddock and Fridman will also be on hand throughout the conference to share company developments and program enhancements to give broker partners access to additional loan opportunities.

If you’re an ISO or broker attending Broker Fair 2019, please reach out to us at 866-411-4006 or isorelations@bfscapital.com so we can arrange a time to meet with you. We can also be found at the BFS booth at Broker Fair.

BFS Capital Achieves $2 Billion in Financing: Q4 and Q3 2018 set new quarterly financing highs for the company
January 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.

 

Media Contact

Archie Group for BFS Capital

Gregory Papajohn

gregory@archiegroup.com

917.287.3626

BFS Capital Appoints Mark Ruddock as Chief Executive Officer
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.

 

About BFS Capital

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.).

BFS Capital’s Marc Glazer: Technology is driving big changes in the lending industry
October 1, 2018

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.

BFS Capital Announces Fall 2018 Industry Event Lineup
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 partners@bfscapital.com to schedule an appointment in advance of the upcoming conferences.

 

About BFS Capital

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 Announces New $175 Million Credit Line
February 20, 2018

Revolving credit facility expands BFS Capital’s financing capacity to meet increasing customer demand and grow its lending business

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.

 

About BFS Capital

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.).

BFS Capital Surpasses $300 Million In Originations for 2017
January 8, 2018

We’re thrilled to report that BFS Capital funded more than $300 million in originations in 2017 after previously forecasting the milestone in December. Our sustained focus on small businesses’ financing needs and our continued expansion across key geographies (US, Canada and UK) helped us achieve this new annual high.

This extraordinary feat is a testament to our team and the ISO, affiliate and strategic partner network that’s helping us to build a world-class lending platform at a time when there are fewer balance-sheet lenders providing small business financing solutions.

For 2018, we will continue to invest in our technology and products, using the foundational data derived from originating $1.7 billion in financings since 2002, to deliver consistent predictability, higher approvals and expedited funding. And, we will continue to give small businesses the high-touch, human care, personalized experience that’s at the core of our successful model.

 

2018 is off to a great start!

Marking 15 years of Small Business Lending, BFS Capital has Extended Over $1.7 Billion in Financing to Businesses across the US, UK and Canada
December 7, 2017

Over 75 percent of originations have occurred in the last five years; more than 25 percent took place in the last 18 months, including a record-high $300 million forecasted for 2017

Marking its 15th anniversary year, BFS Capital, a leading small business financing platform, announced it has now extended over $1.7 billion in financing since funding its first deal in 2002. The company also reported that over 75 percent of its originations have occurred in the last five years and more than 25 percent took place in the last 18 months. For full year 2017, BFS Capital expects to generate more than $300 million in originations, a new annual high.

“The past 15 years have been truly remarkable. Across multiple economic cycles, we’ve built a repeatable, sustainable model in the US and Canada. Boost Capital—celebrating its five-year anniversary—has become a high-performing financing platform for the UK’s small business market,” said Michael Marrache, CEO, BFS Capital. “We’ve stopped thinking about ourselves as an alternative finance provider. Rather, we aim to be the central financing partner for our customers. Both our new and renewal originations provide continued evidence that we’re on track with our customer-centric ambitions.”

BFS Capital was initially created to provide alternative financing to growing small businesses underserved by banks. Today, the company supports nearly 20,000 businesses across 400 industries as their primary provider of financing from $5,000 to $500,000. In 2017, BFS Capital also extended its efforts into data science and machine learning to improve risk profiling and process efficiencies.

 

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 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 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 (US, Canada) and www.BoostCapital.co.uk (UK).