CORAL SPRINGS, Fla.--(BUSINESS WIRE)--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.
