BRIEF: Legend Funding Secures $3 million Debt FacilityJune 14, 2016 | By: Srividya Kalyanaraman
New York City-based merchant cash advance company Legend Funding secured a $3 million debt facility from Houston-based investment investment banking firm Ango Worldwide.
Legend provides working capital financing to businesses in the USA and Canada and the company plans to use the funds for expansion. The deal gets Ango some equity and a seat on the board.
“The merchant cash advance industry is experiencing exciting growth and we felt that the legend management team are strongly positioned to take advance of this opportunity,” said Ango CEO John Carson in a news release.Last modified: June 14, 2016
As editor, Srividya drives daily news coverage and editorial strategy. Previously, her work has appeared in publications like Money magazine, Advertising Age, FirstPost and The Economic Times. She has also dabbled in business intelligence solutions, and holds a Masters degree in Business and Economic Reporting from NYU. Write to her at email@example.com