Small Business Cash Advance Leader Merchant Cash & Capital Poised for Growth with New 4 Year Capital Financing Agreement in Place

NEW YORK--(BUSINESS WIRE)--Merchant Cash & Capital, LLC, (www.merchantcashandcapital.com) one of the nation’s leading “merchant cash advance” funding companies, today announced the completion of a new $25 million senior debt facility provided by Comvest Capital and Community National Bank. In addition, the company also extended its $10 million sub-debt facility for 5 years. The financing will allow MCC to create new and innovative programs, better serve existing customers and aggressively market its services to grow its already burgeoning business. To date, MCC has provided over $370 million in funding to more than 10,000 merchants nationwide.

“Like the businesses we finance, we need resources to develop more programs and services for our customers and that’s exactly what this new financing will allow us to do”

“Like the businesses we finance, we need resources to develop more programs and services for our customers and that’s exactly what this new financing will allow us to do,” said MCC CEO Stephen Sheinbaum. “We help businesses by providing capital and cash-flow flexibility for them to grow and manage their business. With our new funding we can market ourselves more aggressively, make our web site more compatible and interactive to address the needs of our customers and take on substantially more business.”

“The continuation of tight credit markets has merchants searching for working capital and Merchant Cash & Capital is well positioned to respond to the needs of the small business marketplace,” said Comvest Managing Director Greg Reynolds. “We have gained a strong knowledge of MCC through our industry network and are impressed with the innovative programs and services MCC already has in place--with the additional resources they can be even more active in attracting small businesses with a need for capital. We’re delighted to be working with MCC.”

George Shea, a partner of Focus, LLC, which acted as financial advisor to MCC in conjunction with the financing, and a payments industry veteran noted, “Comvest was the clear choice to be MCC’s partner; we were all impressed by their professionalism and flexibility, as well as the synergies they brought to the table through interaction with key portfolio companies.” John Slater, Focus Partner and its Capital Financing Team Leader added, “Merchant Cash & Capital is a well-run, financially sound, but complex business. In the aftermath of the financial crisis, many of the lenders that had traditionally backed specialty finance companies had either gone out of business or pulled away from the market. Comvest has a great deal of experience in the specialty finance industry and was willing to dig in and expend the energy needed to understand MCC’s business model in depth.”

About Merchant Cash & Capital

Merchant Cash & Capital provides businesses with a unique type of funding that avoids the hassles often associated with traditional lenders. MCC “buys” a small, fixed percentage of future credit card revenues and advances that money up front. Businesses can use the money as they see fit; for inventory, marketing, expansion, renovation or simply working capital. Once the capital is available, MCC begins to collect a small, agreed upon percentage of daily credit card sales until the agreement is completely met. There is no check writing and no risk of late fees as the processing bank will automatically transfer funds electronically the way it does with current credit card batches.

For more information about Merchant Cash & Capital and all of its small business funding programs, please visit www.merchantcashandcaptial.com.

About The Comvest Group

The Comvest Group is a leading private investment firm focused on providing debt and equity capital to lower middle-market companies. The Comvest team includes seasoned, senior level operating executives at all levels who partner with managers and owners of companies to grow businesses and create long-term value. Since 1988, Comvest has invested more than $2 billion of capital in over 200 public and private companies. For more information, please visit www.comvest.com.

ABOUT FOCUS LLC

FOCUS LLC provides a range of middle market investment banking services with an emphasis on mergers, acquisitions, divestitures and corporate finance. FOCUS is a national firm serving clients from offices in major cities across the United States. FOCUS specializes in business units with transactions or revenues in the $5-300 million range, serving entrepreneurs, corporate owners and various types of investors across a broad range of industries, throughout the U.S. and worldwide. FOCUS bankers are seasoned operating and financial executives with extensive transaction experience. Securities transactions conducted by FOCUS Securities LLC, an affiliated company, registered Broker Dealer member FINRA/SIPC. For more information on FOCUS, visit www.focusbankers.com.