CORAL SPRINGS, Fla.--(BUSINESS WIRE)--BFS Capital, a leading small business financing platform, today announced it is has received a new $175 million revolving credit line provided by funds managed by Ares Management, L.P. BFS Capital will use the new facility to accelerate the growth of its lending business, following a record year where the company generated more than $300 million in originations, a new annual high.
“We’re very pleased to increase our financing capacity. The new facility helps us to meet customer demand following a record year in originations and accelerate our expansion and market share growth across key geographies,” said Michael Marrache, CEO, BFS Capital.
The facility is one of the first announced in 2018 by a balance sheet business lender. The increase in financing capacity is also the latest in a series of milestones for BFS Capital, which marked its 15th anniversary year in 2017. During the year, the company named Michael Marrache as CEO and announced it had extended over $1.7 billion in financing in the U.S., U.K. and Canada since funding its first loan in 2002.
“The market continues to appreciate our small business customer focus. Our strategic partners, such as ISOs, also commend us for our data and underwriting expertise—based on 15 years of financings across multiple economic cycles—which enables us to better anticipate the future performance of our financings. As BFS Capital continues to grow, we’ll make further investments in our product lineup, technology platform and customer servicing to become a one-stop financing resource for small businesses across our footprint,” said Marrache.
Stephens Inc. acted as financial advisor to BFS Capital Inc. in this transaction.
About BFS Capital
BFS Capital champions the 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 $1.7 billion in total financing to more than 20 thousand 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. Respondents to Trust Pilot score BFS Capital with a 5-Star rating. For more, please visit www.BFSCapital.com (U.S., Canada) and www.BoostCapital.co.uk (U.K.).