NEW YORK--(BUSINESS WIRE)--Paramount Merchant Funding, a financial services firm providing innovative working capital solutions to small businesses, announced today the Company has secured $13 million in growth capital to further help small businesses in need of financing to sustain or grow their enterprise. This latest round of funding, which came from an increased line of credit from Entrepreneur Growth Capital and Crestmark Bank and subordinated debt from Hamilton Investment Partners, enables the Company to fund up to $100 million in 2013.
“The investments we have received from Entrepreneur Growth Capital, Crestmark Bank and Hamilton Investment Partners validates our business model for accelerating small businesses,” stated Jared Feldman, Managing Partner, Paramount Merchant Funding. “Our growing customer base trusts our expertise, and this new capital enables us to further support their growth strategies while opening additional doors to fuel new customers.”
Founded in 2008, Paramount Merchant Funding has provided financing to approximately 3,000 businesses. The Company offers extensive flexible funding solutions to a wide range of industries including but not limited to food & beverage, transportation, construction, healthcare and retail. Paramount Merchant Funding uses a consultative approach that is supported by a fast, simple and transparent software solution offering real-time data so customers are part of the process every step of the way.
“Paramount Merchant Funding empowers growth among small businesses while offering the most extensive solutions in the industry. This has also helped their business to grow significantly,” said Dean Landis, Founder and CEO of Entrepreneur Growth Capital. “Our investment underscores our belief in their continued success to grow as an organization and help small businesses grow and succeed.”
About Paramount Merchant Funding
Paramount Merchant Funding offers flexible, working capital solutions to small businesses in need of financing to sustain or grow their enterprise. The Manhattan-based company places a high value on trust and transparency and provides businesses with quick, customized financial solutions utilizing its state-of-the-art technology platforms. Founded in June 2008, Paramount Merchant Funding has provided more than $111 million to more than 2,827 customers.
