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BFS Capital Inc., a leading small business financing platform, today announced that the company has entered into a $165 million Amended and Restated Loan and Security Agreement with Wells Fargo Capital Finance as administrative agent. The agreement provides for additional increases up to a maximum line of $250 million. The new facility represents an increase from the previous line of $135 million to support the Company’s ability to address continuing demand for small business financing in North America.
“We are very pleased with this deal, which reinforces our strong relationship with our banking partners,” said Marc Glazer, Co-Founder and CEO of BFS Capital. “The improved and expanded credit line boosts our funding capabilities to meet increasing demands of small businesses across diverse sectors. The new facility underscores our confidence in the sustained growth of the industry and our commitment to being a champion for small business.”
The increase in financing is the latest in a series of strategic growth initiatives. In July, the company crossed the $1 billion milestone in total small business financings, followed by the announcement of its acquisition of Entrust Merchant Solutions in August. In September, the organization rebranded from Business Financial Services to BFS Capital with a new logo and website. Carrying the momentum into 2016, these achievements underscore the company’s ongoing effort to increase its market share, expand its customer base and continue to serve as a trusted resource for small business owners.
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 up to $2 million for 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 $1.3 billion in total financing to small businesses across more than 400 industries. Headquartered in South Florida with offices in New York, California, Georgia and the United Kingdom, BFS Capital is an accredited BBB company with an A+ rating.