BFS Capital Secures $175M Revolving Line
BFS Capital has secured a new $175 million revolving credit facility from funds managed by Ares Management, L.P. (NYSE:ARES), according to a company announcement. Stephens Inc. acted as financial advisor to the transaction.
ARES is one of the largest global alternative asset managers with $106.4 billion under management. They previously announced a $100 million line for LendingPoint, an online consumer lender.
BFS Capital also recently announced that 2017 was their biggest year yet. They generated more than $300 million in originations for the year.
BFS Capital plans to use the new facility to accelerate the growth of its lending business.
“The market continues to appreciate our small business customer focus,” said BFS Capital CEO Michael Marrache in a prepared statement. “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.”Last modified: February 20, 2018
Sean Murray is the President and Chief Editor of deBanked and the founder of the Broker Fair Conference. Connect with me on LinkedIn or follow me on twitter. You can view all future deBanked events here.