Did BFS Capital Trade Going Public for a Bigger Credit Line?

BFS Capital secured a $165 million credit line through Wells Fargo Capital Finance with an additional increase of up to $250 million. This agreement extends the former line of $135 million and will help the Florida based small business lender to service merchants in North America.

The company had an eventful 2015 — In July last year, it funded $1 billion worth of deals and acquired New York-based financial services firm Entrust Merchant Solutions in August. It also rebranded itself from Business Financial Services Inc.

Interestingly enough, as deBanked reported in September last year, the company filed for an IPO and submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”) relating to the proposed initial public offering of its common stock.