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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.
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 $1.5 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.