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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 banks and other traditional 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.
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!
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.).
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.
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).
BFS Capital, a leading small business financing company, will be sponsoring and speaking at key lending industry events over the next two weeks including the National Alliance of Commercial Loan Brokers’ annual conference and Money20/20.
BFS Capital is looking to deepen relationships and make new connections with Independent Sales Organizations and strategic partners to better understand and support their evolving needs. Company executives attending the conferences and trade shows will participate in press interviews and networking events to discuss the lending landscape and how BFS Capital’s solutions can help shore up the financing gap for small businesses.
“In small business lending, building a strong brand is critical. We’re expanding our presence at these events so we can share with our partners all that we offer through our financing solutions and programs,” says Michael Marrache, CEO of BFS Capital. “
“Customer service is the cornerstone of our business, which is evident from our essential servicing touchpoints—a simple application, same-day decision and fast funding—to our commitment to truly understanding small business owners’ needs and finding the right solutions to help them thrive,” Marrache adds.
Marrache, who became CEO in August, is leading BFS Capital through a series of customer-focused initiatives that will position the company for long-term growth including increased transparency, deeper reliance on algorithms and data science, enhanced underwriting, and an expedited funding process.
From October 17-19 in Orlando, BFS Capital will be the official conference WiFi Sponsor at the National Alliance of Commercial Loan Brokers’ third annual conference, which is designed to enrich the businesses and connections of ISOs and commercial loan brokers.
“With our reputation for responsible lending and service excellence, we’re very interested in developing partnerships with ISOs who can help us serve more small businesses with their funding needs,” Marrache says.
BFS Capital executives will speak at a NACLB general session panel about the state of lending and will join a breakout session to discuss alternative lending and the merchant cash advance product. They will also be on hand to talk to ISOs at Stand #25.
From October 22-25 in Las Vegas, BFS Capital will attend and sponsor Money20/20, the world’s largest marketplace for ideas, connections and deals in payments and financial services. BFS Capital executives will share their philosophy about intelligent financing and how the company serves small business communities. The BFS Capital team will be available at Stand #456.
“Through conferences and other events, we look forward to learning more about the various industries we serve and how we can better support our ISOs and strategic partners. For our company, the benefits of our attendance will be palpable, from gaining exposure to new people and partners, to discovering ways to enhance our brand, products and technology platform,” Marrache adds.
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 $1.5 billion in total financing to more than 18,000 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.
BFS Capital Inc., a leading small business financing company, announced that it has appointed Michael Marrache as Chief Executive Officer to succeed outgoing CEO and co-founder Marc Glazer. Named President in September 2016, Marrache previously served for more than three years as the company’s Chief Operating Officer. He also will join the company’s Board of Directors. Marc Glazer will continue to serve as Chairman of the BFS Capital Board.
“Michael has been invaluable in enhancing operations and driving sales. As CEO, he will lead our strategic direction both domestically and internationally, and spearhead initiatives that will continue to improve our loan portfolio metrics and strengthen our reputation among customers and partners as a premier small business lending organization,” said Glazer.
Over recent months, Marrache has built a management team that will execute on a long-term strategic plan to guide the company’s future and reach new milestones in the areas of origination, ISO partnerships and customer experience.
“I began work with BFS Capital nearly four years ago because I thought the company had enormous potential, and I’m even more certain of this today. I’m honored to have been asked by Marc and the Board to lead the company’s next phase of growth,” said Marrache.
“Our business has experienced great momentum over the last year and we’re setting a course for continued growth and leadership. We have a strong, committed management team and together, along with our employees, we’re primed to execute on our priorities, including upgrading the customer experience, investing in our product offerings and leveraging our data science to drive insights for our customers and partners,” Marrache added.
In April, BFS Capital reached a milestone of $1.5 billion in financing—a 50% increase over the $1 billion the company generated from inception through July 2015, led by loan portfolio growth in both new and repeat customers.
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