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09/09/2021Nuula (formerly BFS Capital) secures $120M
06/21/2020BFS Capital appoints new CTO
05/05/2020BFS Capital hires new CFO
03/20/2020Peter Ng is new CRO at BFS Capital
03/14/2020BFS hires new chief revenue officer

Potential Match Found in deBanked UCC Filer list

Company NamePhone numberUCC Alias 1Alias 2Alias 3Alias 4Alias 5
Business Financial Services 866-411-4006 Faton Inc BFS West Inc.
RapidAdvance 877-467-2743 SBFN SBFS LLC Mopsley Solutions


BFS Capital is Now Nuula

April 29, 2021
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BFS Capital Website“The reimagined future of BFS starts now, and today I’m proud to announce that BFS Capital has become Nuula,” wrote BFS Capital CEO Mark Ruddock on LinkedIn. In a lengthy post, he explained that the company has shifted its “philosophy from solely selling loans acquired primarily from brokers, to providing a more holistic, customer-centric mobile app that entrepreneurs would find useful each and every day.”

“Nuula is a mobile application that gives small business owners instant access to critical business metrics anytime, anywhere.

It allows real-time monitoring of cash flow, personal and business credit activity, and social ratings and reviews. Small business owners know immediately if there’s an issue with their cash, credit, or reputation that requires action.

But this is just the beginning.”

“With regards to our legacy business, our team will continue to support our existing customers and partners as we transition all our services to Nuula,” he added. “Our existing customers will be the first to be offered a chance to experience Nuula. And over the next few weeks, our existing working capital customers will be able to unlock additional capital from the first of our Nuula ecosystem partners, with exciting incentives and in a way that is as seamless as possible. We expect to make that announcement soon.”

You can read the full post here.


BFS Capital Hires Peter Ng as CRO

March 20, 2020
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BFS Capital WebsiteLast week BFS Capital announced that it has appointed Peter Ng as Chief Revenue Officer. Coming from BlackBerry, where he served as Senior Director of Global Alliances and Business Development, Ng will be responsible for leading all revenue-related functions as well as overseeing the development of partnerships.

“I’ve had the privilege of working with Peter over the past few years and have always been impressed with his unique ability to drive business growth through new, innovative and diverse channels,” CEO Mark Ruddock said. “BFS continues to develop our executive talent pool as we pursue our mission of reimagining small business financial services, and we are particularly thrilled to have him join our leadership team.”

At BlackBerry, Ng lead the company’s global Independent Software Vendor partnerships program. Here Ng oversaw the creation of new partnerships and revenue streams with the launch of BlackBerry’s ISV Affiliate program as well as the addition of over 120 partners in less than three years. Ng was also instrumental in starting up the BlackBerry World mobile app store. He joined BlackBerry after the Canadian multinational acquired Viigo, where Ng was Vice President of Sales and Services.

“I’m excited to accept the role as Chief Revenue Officer,” Ng said in a statement. “This will be the third opportunity I’ve had to work with Mark Ruddock, who is truly a transformational leader. Having built an app ecosystem from scratch, I see a similar opportunity to create one for the small business owner. I’m looking forward to bringing my extensive global partnership experience and passion for startups to BFS Capital to help grow and diversify sales channels. The BFS Capital platform, combined with a robust partner ecosystem, will unlock exciting new financial products and services for underserved small businesses and drive an unparalleled customer experience.”

Bank, Auto Lender, and BFS Capital Are New Additions to Canadian Lenders Association’s Board

February 11, 2020
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Canadian Lenders AssociationThe Canadian Lending Association has announced today that it has three newcomers to its board: BFS Capital’s CEO, Mark Ruddock; Cox Automotive Canada’s EVP, Jerome Dwight; and BMO’s Head of Specialty Finance and Loan Syndication in Canadian Commercial Banking, Lyla Kanji.

In a statement, Kanji said that she was “excited to join the CLA board and bring my expertise in specialty finance to help provide guidance to member companies.” While Ruddock commented that “After having focused for the past few years on financial technology innovation abroad, it’s thrilling to be back in Canada, and to be supporting Canadian businesses with access to the capital they need to power growth.”

Tal Schwartz, a spokesperson for the CLA, explained that he viewed new members joining the board as an indication of maturity for the Canadian market. With BFS being an established American alternative finance company and Cox offering auto loans, Schwartz told deBanked that these companies “show that commercial and consumer financing is expanding beyond what we typically think of as an SME or as a regular borrower.”

On BMO, Schwartz was delighted to have one of Canada’s largest banks join the board. “To have a major bank join the CLA really underlines how robust and mature the alternative finance industry has become,” Schwartz noted. “For us, having BMO join is really breaking down that old world understanding of alternative versus mainstream lending and proving that there’s really just a continuum of different lending solutions depending on the profile of the borrower.”

BFS Capital Hires New COO

November 12, 2019
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BFS Capital WebsiteBFS announced this morning that it has hired Brian Simmons as its new Chief Operating Officer. The news come as the company is preparing for the North American launch of its tech platform in December, a move that is part of BFS’s vision to become a more customer-focused business.

This planned “journey,” as CEO Mark Ruddock calls it, has been demonstrated in the past with the hiring of Fred Kauber as Chief Technology Officer and Chief Product Officer in May.

“If you’re going to be a successful venture-backed company,” Ruddock explains, “you need to think differently and act differently.” And this approach is manifested in Simmons’ history. Having worked in a diverse set of fields, the new COO has previously worked with Openlane, a B2B digital automotive marketplace; Wonga, the peer-to-peer lender where he was Head of Global Products and where he was introduced to Ruddock; and the IATF, or International Axe Throwing Federation, where he was a Co-founder and board member.

Together these experiences form a patchworked career, highlighting different skills and industries, but Simmons affirms that they’ve molded him to fit into BFS. “I think that the overarching theme has been that I’ve always been drawn by innovation,” Simmons explains, noting that his experience with Wonga provided him with a knowledge of financial services that is crucial to his role at BFS, while his time with the IATF benefitted him by endowing an intimate knowledge of the financial pressures small businesses face.

“What’s spoken to me at each turn is the opportunity to be involved with organizations who are at the bleeding edge of what they are doing and just incredibly innovative in their approach to doing business […] I’ve been really fortunate to work with a number of quite successful organizations at different phases in their life cycle and I think that’s given me an understanding of what works and what doesn’t.”

Going forward, Simmons will be managing the progress of transforming lead-loan operational processes and focusing on the company’s transition to a fully digital-enabled lending platform.

“To transform anything successfully is an exercise of effective change management, and there’s a real art to doing that right,” Simmons notes. “It’s not just doing things better, it’s how you communicate to people, how you do it in the right sequencing, how you get the right team together to affect things in the right way.”

BFS Capital Launches Canadian Tech Hub

October 16, 2019
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Toronto CanadaSmall business lender BFS Capital is making an expansion push with the creation of a new data science and engineering hub in Toronto. BFS, which serves customers in a trifecta of jurisdictions that in addition to Canada includes the U.S. and the UK, has undergone a technological transformation that includes building out a tech team for the next generation of the firm’s products.

BFS Capital CEO Mark Ruddock took some time to discuss the Toronto expansion with deBanked.

“We have an ambitious roadmap and plan to innovate quickly,” said Ruddock, “As a result, we had to ask ourselves, where could we best do this? We looked at cities across North America with strong tech and data science talent, and which were millennial friendly. We were frankly quite surprised by Toronto. Something fundamental is happening in Toronto – it’s fast becoming a leading city for data science, AI, and mobile app development in North America.”

Indeed, deBanked hosted its inaugural Canadian event in Toronto this past July after keeping an eye on its burgeoning fintech scene there for years.

“We are seeing a fundamental transformation happening in our customer base, from a less digitally savvy generation of entrepreneurs willing to accept the traditional financial products to a demanding, digital first generation, seeking new financial solutions,” said Ruddock, pointing to a two-pronged approach of real-time algorithmic decisioning and a mobile-first user design. “The intersection of those two things is the tipping point for small business financial services for the next while,” he added.

BFS Capital is finding that the younger generation is well equipped with technological skillsets, noted Ruddock, pointing to the Universty of Toronto and University of Waterloo as two of the best schools in North America for tech talent.

BFS Capital Eliminates Upfront Fees to Simplify Financing for Small Business Owners

October 1, 2019
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Enhanced website streamlines lead-to-loan process for customers and partners

BFS Capital LogoCORAL SPRINGS, FLA. (Oct. 1, 2019)—BFS Capital, a leader in small business financing, today announced it has eliminated all upfront fees on its financing solutions, including loans and business advances, as it simplifies pricing for small business owners.

With pricing that is transparent, flexible and easy to understand, BFS Capital is leading the evolution of small business financing. BFS Capital customers can now apply for and receive up to $500,000 in financing with no origination fees, no processing fees and no upfront costs. Customers are able to pay back a loan with a fixed daily or weekly payment, or as a flexible payment calculated as a percentage of credit card sales.

“There will be no hidden costs or unexpected surprises. What customers borrow is what gets funded into their accounts,” said BFS Capital CEO Mark Ruddock. “We are committed to empowering small businesses by meeting their needs with straightforward, cost-effective and timely online financing, whether it be to smooth cash flow, invest in adding staff, purchase equipment or upgrade a space.”

BFS WebsiteBFS Capital is also preparing to roll out a new, state-of-the-art digital lending platform. Over the next few weeks, the website will showcase a refreshed brand and exciting advances in automation across the entire loan application and approval process.

Partners, including Independent Sales Organizations (ISOs) that match small businesses to BFS Capital’s financing solutions, will also benefit from the company’s new no fee product proposition, evolving digital capabilities and dedication to transparency. ISOs and partners will soon have real-time visibility into the status of their leads across the entire customer relationship lifecycle, from the initial application through the life of the loan and beyond.

“As we embark on our mission of reimagining small business financial services, we are reinforcing support for our partners with API integration and faster, fully underwritten personalized offers, all complemented by market-leading pricing and commissions,” Ruddock added.

BFS Capital has over a decade long history of helping small business owners thrive and has provided more than $2 billion in financing. To qualify, businesses must be in operations for at least two years and generate at least $12,000 in monthly revenue. More than 23,000 businesses have been funded by BFS Capital across 400 industries.

To learn more, please visit

About BFS Capital

BFS Capital champions the long-term growth and prosperity of small businesses by providing timely, flexible financing solutions. BFS Capital’s leading small business financing platform leverages customized underwriting and proprietary algorithms to fund businesses in the United States, Canada, and through its United Kingdom subsidiary, Boost Capital. Since 2002, BFS Capital has provided over $2 billion in total financing to over 23,000 small businesses across more than 400 industries. Headquartered in South Florida with offices in New York, California and the United Kingdom, BFS Capital is an accredited BBB company with an A+ rating.

Media Contact
Archie Group for BFS Capital
Gregory Papajohn

BFS Capital Joins ILPA

May 23, 2019
Article by:
Mark Ruddock, CEO, BFS Capital

The Innovation Lending Platform Association (ILPA), a group of online small business financing and service companies, announced today the addition of BFS Capital.  ILPA is known for creating the Straightforward Metrics Around Rate and Total Cost (SMART) Box.

“We believe that transparency matters,” Ruddock told deBanked.

“BFS Capital is committed to being both a responsible and an innovative lender,” Ruddock said. “Our membership in the ILPA allows us to work with industry leaders who are dedicated to advancing standards and best practices in the critical small business lending marketplace… [and] we believe that clarity and transparency is critical in helping [small businesses] make educated and informed financial decisions.”

As a new member of ILPA, BFS will join current members including OnDeck, Kabbage, BlueVine and 6th Avenue Capital.

“We applaud Mulligan Funding and BFS Capital for committing to adopt fair and transparent disclosure best practices to ensure small businesses are well informed when seeking funding,” said ILPA CEO Scott Stewart. (ILPA announced that Mulligan Funding has joined the association as well).

BFS is also a member of the Small Business Finance Association (SBFA) and Ruddock told deBanked that BFS will remain a member of that trade association as well.  

Separately, BFS announced today that it has named Fred Kauber as the company’s new Chief Technology Officer and Chief Product Officer. Kauber was previously with fintech marketplace platform CAIS Group and he served in senior roles at First Data, Dun & Bradstreet and IBM.

“I’m confident that Fred is the right person to advance both our vision and our capabilities [at BFS,]” Ruddock said.

BFS Capital Surpasses $2 Billion in Financing

January 22, 2019
Article by:

RuddockBFS Capital announced this morning that it has exceeded $2 billion in financing to over 22,000 small businesses across the United States, Canada and the UK.

“This is a major originations milestone,” said Mark Ruddock, CEO of BFS Capital. “We’re incredibly proud to see these investments take root, as BFS Capital continues to solidify its position as a central source for financing small businesses and their everyday capital needs.”

BFS Capital provides business loans and MCA deals from $5,000 to $500,000 to a wide variety of merchants. In 2018, fourth quarter originations were the highest ever in the company’s 17-year history. And third quarter originations also represented the best third quarter in the company’s history.

“In 2018 we enhanced our sales and marketing programs and made significant advances in our underwriting models so that we could better serve small businesses,” Ruddock said.

Ruddock also said that they are constantly thinking of ways to be better partners to the ISOs. He said that they plan to speed up the process from lead to loan by 30% this year, so that, with continued improvements in technology, approvals can take a matter of minutes and eventually happen instantaneously. Currently, they make decisions within a matter of hours.

“We’re also trying to communicate more clearly with [our ISO partners] about what sorts of merchants we are more likely to fund than not, so that they can be more efficient themselves,” Ruddock said.

Apart from accelerating speed in approval time for certain financing, Ruddock said that BFS also excels in serving customers that he calls “diamonds in the rough,” or businesses that sometimes even other alternative lenders will reject because they don’t understand them.

“BFS will very often be in a position to look at a company that perhaps might look complicated to others, and be able to say ‘Yes, this is a deal that we will do,’” Ruddock said.

This process is a little less automated as it requires more creative thinking on the part of their underwriting team, Ruddock said. Founded in 2002 and headquartered in Coral Springs, FL, BFS also has offices in New York, California and the UK.

Threads on deBanked


defaulted retail store just paid off $40K BFS and NEEDS $20k...
good morning merchant paid off bfs with no late payments etc. and is seeking $15 - $20k as an ach or an mca. please advise by email - can send over...

Need Funding or Working Capital For Your Business... if you've been turned down by the banks, we can help you get the funding you need to gr...

Found on DailyFunder:


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bfs & principis ever come back?, , bfs doing renewals...

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bfs & principis ever come back?...

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bfs capital, principis capital - no new originations, quicksilver capital, the smarter merchant - mixed sentiment whether or not they are currently funding, , other funders that mentioned they will entertain weekly:, 24 capital, clearfund solutions, east shore equities, irm capital, lending valley, queen funding, tvt capital, unique funding solutions, vitalcap fund, , confirmed seen queen doing a bunch of weeklies recently....