Velocity Capital Group (VCG) Secures New $50 Million Credit Facility

CEDARHURST, NEW YORK—FEBRUARY 14, 2022– Velocity Capital Group (VCG), a leading provider of same-day capital advances to small businesses, has secured a multi-draw term funding line of credit with Arena Investors, LP, a global institutional alternative asset manager. The line of credit will provide VCG with borrowing capacity up to $50 million and deep pool of capital from which to expand its business, further strengthening VCG’s ability to provide funding for small business merchants. Though the name VCG may be new to some, the company is no stranger to alternative finance. Eleven years of experience in the space with over 25,000 funded clients has helped their team understand what merchants need most during the funding process, primarily trustworthiness and speed.

Since VCG’s inception, CEO/Principal Jay Avigdor has made it his mission to provide an efficient and flexible funding experience and product for merchants. “We’re setting new strides for speed and service every year. 2022 is going to be even more impactful for VCG and our stakeholders!” said an enthused Jay Avigdor. “We have a big opportunity for us this year to build on last year’s initiatives. This line will give us the wings we truly need to fly! Giving us the ability to fund larger deals and provide longer terms.” said Jay. The previous year, VCG made news by switching to their own internally developed processing software for deal applications called Drag-in. The software pulls critical data from VCG’s applications to conduct all necessary screenings via API, then uploads that data to their CRM with the click of a button. Drag-in gives VCG the ability to provide offers within minutes rather than hours, giving them a leg up on the industry. Stakeholders have been thrilled with the improved response time on their deals. Drag-in is Currently working on a beta version to provide multiple other industries.

Speed isn’t the VCG’s only focus. “Merchants and ISOs alike deserve to have more control of the capital they’re provided,” Jay added. In August 2021, Velocity Capital Group began offering ISOs and Merchants the option to receive their capital in a Cryptocurrency. Primarily sent through as stable coins (USDC, DAI, USDT). “Due to the cut-off times within which banks have to operate, they can become a bottleneck for our transactions. The opportunity for providing capital in Crypto couldn’t have come at a better time,” said Jay. Available to transfer during all times of the day, funding in Cryptocurrency was added as an option for how Merchants & ISOs receive capital.

“We are excited to facilitate VCG’s activities in small business finance at a time when there are limited options and great needs for capital, and where VCG can provide that capital without unduly burdening merchants receiving it. This transaction fits well with Arena’s broader mission to provide flexible, scalable funding solutions for companies and ideas which have unique growth or liquidity needs. We look forward to working with Jay and his team,” said Victor Dupont, who leads Arena’s investments in the SME sector.

The new line of credit gives steady rails for Velocity Capital Group to continue growing and funding at a significant rate into 2023. “We anticipate we will do north of 150M in funding this year with our current deal flow and this new line. We can provide well-needed cash during these troubling times to small businesses and fuel their success while growing ours as well. We can help small businesses access funding like never before in company history. Through implementing Drag-in, this new credit line with Arena, and with our amazing loyal employees and brokers, the sky is only the limit! ” remarked Jay.

About Velocity Capital Group
Velocity Capital Group helps small businesses all over the United States access capital at incredible speeds. Our team has serviced over 25,000 clients in under 11 years. We’ve grown our business to great heights by focusing on speed, efficiency, and transparency.

About Arena Investors, LP
Arena Investors is an institutional asset manager founded in partnership with The Westaim Corporation (TSXV: WED). With $2.8 billion of committed assets under management as of January 1, 2022, and a team of over 100 employees in six offices globally, Arena provides creative solutions for those seeking capital in special situations. The firm brings individuals with decades of experience, a track record of comfort with complexity, the ability to deliver within time constraints, and the flexibility to engage in transactions that cannot be addressed by banks and other conventional financial institutions. See www.arenaco.com for more information.

Velocity Capital Group Specializes in Funding
Up to $1 Million Same-Day thru MCA (1st thru 4th Positions), Reverse Consolidations, & Consolidations

NEW ISOs Sign up to Fund with Velocity Here

We’re Hiring – Join one of the fastest-growing companies in the industry!
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Join VCG and we’ll beat any competing commission structure!

Experienced ISO Relations Representative(s) – Most Competitive Commission in the IndustryBusiness Development Associate with MCA ExperienceJunior Underwriter(s) with MCA ExperienceCollections Manager with MCA Experience

Pearl Capital Business Funding LLC Resumes Merchant Cash Advances After Processing $1.75 B in PPP Loans

JERSEY CITY, N.J. – November 5, 2020 — Pearl Capital Business Funding, LLC, a leading provider of direct financing to small and midsize businesses, today announced that it will resume funding merchant cash advances for U.S. small businesses after suspending funding for a period of time due to the COVID-19 crisis. The move comes after a seven month hiatus during which the company utilized its technology platform to process over $1.75 Billion in SBA Paycheck Protection Program (PPP) Loans.

Pearl Capital provides innovative alternative financial solutions, specializing in the underbanked and subprime business sector. Their financing solutions are available throughout the U.S. to businesses of virtually any industry that are unable to access sufficient traditional financing from banks and non-bank lenders. Pearl’s solutions are not dependent on the business owner’s FICO score and present a compelling solution to underwriting credit even during the current COVID-19 crisis. With the relaunch, Pearl’s ISO Partners can expect lighter stipulation requirements with fewer requested documentation than before and updated pricing. Virtually all business types are eligible for funding from Pearl including high risk industries like auto sales, real estate, home-based businesses, and insurance.

“When the COVID-19 pandemic hit last March, we weren’t sure what our future looked like. With so much uncertainty of the economic climate, like many other funders, we temporarily ceased funding. We pivoted and partnered with Cross River Bank and were able to transition our fully-automated processing and anti-fraud technology to process SBA Paycheck Protection Program (PPP) Loans.” Chief Revenue Officer, Jake Lerner, says, “Using our technology platform, we were able to process over $1.75 Billion in PPP loans for businesses affected by COVID-19.”The Paycheck Protection Program (PPP) was a SBA loan program established under the CARES Act to help small businesses keep workers on their payrolls during the pandemic. The program ended on August 8, 2020 but is likely to resume.

“We’re thrilled to have the ability again to continue to provide financing for companies during an especially difficult time for businesses across the country and give much needed financial support to businesses” CEO, Sol Lax, says, “Pearl did not default on its senior credit line due to its superior underwriting and has added $250 Million in committed financing to expand its activities. If you are a small business and you have survived COVID, you shouldn’t have to shut your doors because you have limited access to capital. We are going to be there for small business both in further iterations of PPP as well as MCA.”

About Pearl Capital

Pearl Capital was founded in 2012 and acquired by private equity firm Capital Z Partners in 2015. Since then, they have become a leader in the fintech industry specializing in short term capital advance solutions for under-banked and credit-challenged businesses, in just about every industry. Over the years, they have provided over 23,000 MCA financings to small businesses across the country, by working with their network of ISOs. Their advanced online application technology platform and machine learning SMB credit score allows them to provide flexible terms and some of the fastest response times in the industry for deals up to one-million dollars. Most recently, Pearl Capital partnered with Cross River Bank to process over $1.75 Billion in Paycheck Protection Program (PPP) loans.

Contact:
Jake Lerner, Chief Revenue Officer
press@pearlcapital.com
+1 347-584-8653