Press release from PR Newswire
Business Financial Services, Inc. Announces New $82 Million Credit Line to Fund Small Businesses
Wednesday, April 24, 2013
Business Financial Services, Inc. Announces New $82 Million Credit Line to Fund Small Businesses09:00 EDT Wednesday, April 24, 2013
Specialty Finance Leader Provides Working Capital to Underserved Small Businesses
CORAL SPRINGS, Fla., April 24, 2013 /PRNewswire/ -- Business Financial Services, Inc. (BFS), a leading specialty finance company since 2002, announced a new $82 million credit facility provided by Wells Fargo Capital Finance, part of Wells Fargo & Company (NYSE: WFC). The new credit line, which replaces a smaller facility with another lender, bolsters the Company's ability to serve the owners of small and medium-size businesses throughout the United States, and through affiliates in Canada and the United Kingdom.
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"Business Financial Services has grown rapidly over the last 11 years by effectively serving business owners whose working capital needs are not met by traditional funding sources," said Marc Glazer, CEO and co-founder of the Company. "This new credit line will enable us to help even more businesses address their ongoing needs and take advantage of real opportunities. With quick funding of loans as small as $4,000 and as large as $2,000,000 that are structured to meet the needs of the borrower, we help fill a critical credit gap in the economy."
View a video of Marc Glazer discussing small business financing solutions from Business Financial Services.
About Business Financial Services
Business Financial Services, Inc. is a leading specialty finance company providing short term loans and cash advances to owners of small and medium-size businesses. Founded in 2002 with headquarters in South Florida and supported by private equity and institutional partners, BFS serves businesses in all 50 states and Puerto Rico, and through affiliates, in Canada and the United Kingdom. BFS is proud to be an accredited BBB company with an A+ rating. Visit the BFS website at www.businessfinancialservices.com.
About Wells Fargo Capital Finance
Wells Fargo Capital Finance is the trade name for certain asset-based lending, accounts receivable and purchase order finance services of Wells Fargo & Company and its subsidiaries, and provides traditional asset-based lending, specialized senior secured financing, accounts receivable financing and purchase order financing to companies across the United States and Canada. Dedicated teams within Wells Fargo Capital Finance provide financing solutions for companies in specific industries such as retail, software publishing and high-technology, commercial finance, staffing, government contracting, timeshare development and others. For more information, visit wellsfargocapitalfinance.com
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SOURCE Business Financial Services, Inc.
For further information: For Business Financial Services, Inc.: Fahlgren Mortine: Patrick Gallagher, (216) 298-4617, firstname.lastname@example.org