Articles by Press Release
Platinum Rapid Funding Group Hires Dynamic New CFO
October 16, 2017
Uniondale, NY: Michael Kennedy, former CFO of BizFi, Mastercard Europe, and American Express Latin America, has joined Platinum Rapid Funding Group LLC. As CFO, Michael is a highly accomplished professional with over thirty years of industry experience, most recently serving as an effective strategist and visionary at BizFi.
Ali Mayar commented “we are so pleased to announce that Michael is officially on board, and we’re excited to continue on this road of growth and prosperity, now aided by his industry expertise. We view his appointment as a sign of our commitment to being the leading company in our industry.”
Michael Kennedy enthusiastically stated “I am thrilled to join Platinum Rapid Funding at this exciting time in the Company’s evolution. As their CFO, I am impressed with the strong foundation that Ali and his team have built and I look forward to helping them to bigger and better things.”
About Platinum Rapid Funding Group
Platinum Rapid Funding Group is a Merchant Cash Advance company that provides working capital to businesses nationwide. Founded in 2012, Platinum’s mission is to help businesses succeed by providing service to merchants seeking rapid alternative financing. Platinum has seen exponential growth by utilizing a unique business model, harnessing manpower, technology and proprietary data, placing them at the top of the industry standard.
Broker Fair 2018 – The Inaugural Conference for Merchant Cash Advance and Business Loan Brokers
October 5, 2017
New York, NY – Foinse, LLC, in collaboration with deBanked, is excited to announce Broker Fair 2018, the inaugural conference for merchant cash advance (MCA) and business loan brokers. Broker Fair 2018 is being held at The William Vale in Brooklyn on May 14, 2018. It will be the largest gathering of MCA and business loan brokers in the country.
This exclusive one-day event in New York City’s most vibrant and creative corner will offer brokers, lenders, funders, and service providers opportunities to learn, connect, and grow their businesses.
Broker Fair founder and deBanked Chief Editor Sean Murray, said “Online business lenders, MCA providers, and independent brokers employ thousands of salespeople to connect business owners with sources of capital. There are numerous products, tools, and resources out there now but the landscape remains fractured. Through Broker Fair, I want to empower the salespeople, empower the brokers. They’re the ones on the frontlines with America’s small business owners. I’ve been covering this space for seven years and was actually an MCA broker myself prior to that. I know the industry. A lot of folks and companies want to be successful but I know that they also want to have a positive impact on their customers and the industry they’re a part of. I want to facilitate that and more at Broker Fair.”
The three central tenets of the conference will be education, inspiration, and opportunities.
Registration is already open at http://brokerfair.org/pages/register/
To become a sponsor or inquire about the benefits of sponsorship, contact info@brokerfair.org or call 917-722-0808. Event sponsors can be viewed at: https://brokerfair.org/sponsors/
About Foinse, LLC
Foinse, LLC is an events company and the owner of Broker Fair 2018. For more information, visit: https://brokerfair.org/
About deBanked
deBanked® is a registered trademark of Raharney Capital, LLC and is the name of a print and online publication that has covered alternative finance including merchant cash advance and online business lending since 2010. deBanked is a presenting partner of Broker Fair 2018. For more information, visit: https://debanked.com/
LeaseQ and ARF Financial Partner to Automate Hospitality Equipment Financing
September 12, 2017BOSTON (Sept. 12, 2017) – LeaseQ, an online marketplace connecting business owners, equipment sellers, and lenders to make selling and financing equipment fast and easy, today announced a national partnership with ARF Financial, the only FDIC-compliant financial lender that provides short-term, unsecured business loans and lines of credit for restaurant/hospitality business owners and retailers nationwide.
“We are unique in having our own sales organization, and LeaseQ gives our loan consultants around the country a lease product with instant quotes,” ARF Financial CEO Steve Glenn said. “Now we are a one stop lender offering additional products to satisfy our customers funding needs for their businesses.”
Innovations in the equipment finance industry will continue to increase flexibility and convenience for customers, according to the Equipment Leasing and Finance Association’s (ELFA) Top 10 Equipment Acquisition Trends for 2017. Automation fuels advances in instant quotes, soft credit pulls, same-day approvals, one-day funding and blockchain for secure, multi-party transactions – many of which are available today through LeaseQ and ARF Financial.
“You can finance a car in an hour, but not a walk-in freezer to start or expand a restaurant,” said Vernon Tirey, co-founder and CEO of LeaseQ. “One-day funding is a trendy thing to say in equipment financing, but when the restauranteur or hotel manager presses the button to get financing, it has to work. We’re advancing our technology and partnering with lenders like ARF Financial who understand the value of automation to make it happen.”
LeaseQ and ARF Financial offer automated, flexible equipment financing for hospitality merchants who are frustrated with the time it takes to get a bank loan, or who cannot get a bank loan at all, including those:
- Expanding a facility
- Upgrading equipment
- Adding a location and renovating the property
- Managing working capital, and more
There are currently 150 lenders on the LeaseQ platform serving 28 vertical markets. Learn more at www.leaseq.com.
About LeaseQ
LeaseQ is an online marketplace connecting businesses, equipment sellers, and equipment finance companies to make selling and financing equipment fast and easy. The LeaseQ platform is a free, cloud-based SaaS solution with a suite of on-demand software and data solutions for the equipment leasing industry. LeaseQ provides business process optimization (BPO) and information services that streamline the purchase and financing of business equipment across a broad array of vertical industry segments. Learn more at www.leaseq.com.
About ARF Financial
ARF Financial LLC is a California licensed lender that sources short-term business loans and lines of credit for restaurant/hospitality and retail merchants nationwide. Since 2001, ARF has filled the void between traditional bank financing and less attractive venues of obtaining capital, giving merchants the ability to maintain control of their business, be more profitable and meet their financial goals. The company is managed and staffed by industry veterans with extensive experience in restaurant finance and small to medium retail industries.
For more information on their services, visit their website at www.arffinancial.com. You may fill out their contact form at www.arffinancial.com/contact, call 1-866-702-4430, or send an email to funding@arffinancial.com for inquiries.
Ascentium Capital Successfully Hosts CLFP Exam and Prepares for its Largest Sales Training Event
September 5, 2017September 5, 2017 KINGWOOD, TX – Ascentium Capital LLC, the top private independent finance company in the United States by new business volume, proudly hosted an Academy for Lease and Finance Professionals (ALFP) in Dover, New Hampshire.
The ALFP is an intensive three-day event designed to prepare individuals for the Certified Lease and Finance Professional (CLFP) exam. The CLFP designation is considered a preeminent credential throughout the world. This event resulted in seven new certified leasing professionals. “Ascentium Capital currently employs 17 CLFP-designated professionals and we are proud to support the industry and the advancement of financing professionals,” states Bob Fisher, CLFP and senior vice president of business development at Ascentium Capital.
Ascentium Capital also reached a new milestone and is holding its largest internal sales training program, Ascentium University this month. The Company will be on-boarding 10 new vendor focused sales representatives with course curriculum addressing business processes, marketing strategies, solution-based selling and the use of the award-winning technology platform. The mission is to lay the foundation for achievement and shorten the ramp-up period for a faster impact on growth. Richard Baccaro, chief sales and marketing officer at Ascentium Capital comments, “We are committed to the investment of our most powerful resource, our employees. Ascentium University enables us to attract top sales talent and to ensure they are set up to succeed.”
The Company’s growth continues in key industries including construction, healthcare, hospitality, technology and waste management. Due to this, recruitment efforts cover a national footprint. Ascentium Capital currently employs 105 sales representatives throughout the United States.
About Ascentium Capital
As a direct lender, Ascentium Capital LLC specializes in providing a broad range of financing, leasing and small business loans. The company’s offering benefits equipment manufacturers and distributors as well as direct to businesses nationwide. Ascentium Capital is backed by the strength of leading investment firm Warburg Pincus LLC. For more information, please visit
AscentiumCapital.com.
Media Contact
Monica Bruegl
SVP Marketing
Ascentium Capital LLC
MonicaBruegl@AscentiumCapital.com
The Alternative Finance Bar Association Announces September 13th Event
August 31, 2017An announcement from the AFBA:
Download Save The Date PDF
SAVE THE DATE
Location: NYC Bar Association Offices
42 West 44th Street
New York, NY 10336
When: September 13th
Date: September 13, 2017
LOCATION: NYC BAR ASSOCIATION OFFICES
Clark Hill’s Consumer Financial Services Regulatory & Compliance Practice Group is a national leader in the field of consumer financial services law, providing strategic legal counsel to clients in all areas of consumer and small business finance. We provide advice, consultation and litigation services to a wide variety of financial institutions throughout the country. Our exceptional team of lawyers as well as government and regulatory advisors has extensive experience in – and an in-depth understanding of – the laws and regulations governing consumer financial products and services including engagement with the Consumer Financial Protection Bureau and prudential regulators.
Credibly Selected to Service Bizfi’s $250M Portfolio
August 30, 2017
Credibly also announced that it has crossed the $500 million milestone in capital deployed to tens of thousands of SMBs across the U.S. This is separate from the $250M portfolio the company is now servicing from BizFi.
“Acquiring the servicing rights of BizFi’s portfolio is a testament to our data-driven approach and laser focus on the working capital needs of small businesses,” said Ryan Rosett, Credibly’s Founder and Co-Chief Executive Officer. “We welcome our new customers and are committed to ensuring that their growth capital needs are met.”
In addition to servicing the BizFi portfolio, Credibly is working with both sales partners and merchants to provide additional working capital to the businesses in BizFi’s portfolio. Credibly’s data science team has the ability to analyze BizFi’s twelve years of data and remittance history, which will allow Credibly to better service both the BizFi and Credibly portfolios. Further, BizFi’s data enhances Credibly’s risk management, scoring models, and portfolio management tools.
The Small Business Association (SBA) estimates that traditional banks still reject approximately 90 percent of SMB loan applications. Since 2010, Credibly has emerged as a proven platform that leverages data science and analytics to provide SMBs with a simple and intuitive way to access critical working capital. The company addresses the fundamental capital needs of SMB owners across a broad credit spectrum and through every stage of a business’s life cycle.
Main Street SMBs across a wide variety of industries that include restaurants, retail stores, salons, spas, dry cleaners, auto body shops, and doctors’ offices, all rely on Credibly to secure the necessary capital they need to grow.
Credibly has achieved widespread industry recognition for its risk management, data technology, and data driven approach. For more information on Credibly, please visit www.credibly.com.
About Credibly
Founded in 2010 and with offices in Michigan, Arizona, Massachusetts, and New York, Credibly is a best-in-class Fintech platform that leverages data science and analytics to improve the speed, cost, and choice of capital available to small businesses in the United States. Credibly is dedicated to creating a superior customer experience that meets the needs of all small businesses, regardless of product need or credit profile.
Learn more at www.credibly.com. Follow Credibly @credibly360.
Media Contact:
Tracy Rubin / Olivia Levis
JCUTLER media group
323-969-9904
tracy@jcmg.com / olivia@jcmg.com
BFS Capital Appoints Michael Marrache as CEO
August 17, 2017Coral Springs, Fla.—August 17, 2017—BFS Capital Inc., a leading small business financing company, announced that it has appointed Michael Marrache as Chief Executive Officer to succeed outgoing CEO and co-founder Marc Glazer. Named President in September 2016, Marrache previously served for more than three years as the company’s Chief Operating Officer. He also will join the company’s Board of Directors. Marc Glazer will continue to serve as Chairman of the BFS Capital Board.
“Michael has been invaluable in enhancing operations and driving sales. As CEO, he will lead our strategic direction both domestically and internationally, and spearhead initiatives that will continue to improve our loan portfolio metrics and strengthen our reputation among customers and partners as a premier small business lending organization,” said Glazer.
Over recent months, Marrache has built a management team that will execute on a long-term strategic plan to guide the company’s future and reach new milestones in the areas of origination, ISO partnerships and customer experience.
“I began work with BFS Capital nearly four years ago because I thought the company had enormous potential, and I’m even more certain of this today. I’m honored to have been asked by Marc and the Board to lead the company’s next phase of growth,” said Marrache.
“Our business has experienced great momentum over the last year and we’re setting a course for continued growth and leadership. We have a strong, committed management team and together, along with our employees, we’re primed to execute on our priorities, including upgrading the customer experience, investing in our product offerings and leveraging our data science to drive insights for our customers and partners,” Marrache added.
In April, BFS Capital reached a milestone of $1.5 billion in financing—a 50% increase over the $1 billion the company generated from inception through July 2015, led by loan portfolio growth in both new and repeat customers.
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 all 50 states and Canada, and through its affiliate, Boost Capital, in the United Kingdom. Since 2002, BFS Capital has provided more than $1.5 billion in total financing to more than 18,000 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. To learn more, please visit: www.bfscapital.com.
Breakout Capital Expands Senior Leadership Team
August 6, 2017Breakout Capital – a leading small business lender – announces the hires of Robert Fleischmann as Senior Vice President, Strategic Partnerships and Tom McCammon as Senior Vice President, Business Operations. These key additions position the small business lender for continued growth.
McLean, VA, August 7, 2017 – Breakout Capital announced today the appointments of Robert Fleischmann as Senior Vice President, Strategic Partnerships and Tom McCammon as Senior Vice President, Business Operations. Both Mr. Fleischmann and Mr. McCammon bring a wealth of knowledge and small business lending experience that can accelerate Breakout Capital’s rapid growth.
“Breakout Capital’s growing employee base shares the same passion and commitment to advancing the Company’s mission to provide transparent working capital solutions, educate small businesses, and promote industry-wide best practices. We are thrilled with the additions of Robert and Tom to the leadership team,” said Founder & CEO, Carl Fairbank.
“Breakout Capital impressed me with its outstanding commitment to educating and advocating on behalf of small businesses,” said Fleischmann. “The innovative loan products combined with the impressive team of professionals make me extremely excited about the opportunity.”
Mr. Fleischmann will lead Breakout Capital’s efforts to expand and diversify its channels through strategic partnerships. Prior to joining Breakout Capital, Mr. Fleischmann was Director of Strategic Partnerships at RapidAdvance where he worked with a diverse group of partners, including banks and commercial finance companies, to help meet the financing needs of their business clients.
Mr. McCammon joins Breakout Capital with direct industry experience as he was formerly Director of Portfolio Management and Credit Operations at OnDeck. Prior to OnDeck and his recent move to the Breakout team, Mr. McCammon was involved in two de novo banks and was a consultant to the FDIC during the financial crisis. He will be a central figure in continuing to build Breakout Capital’s stature as both a credit-and customer-centric enterprise.
“Having worked in both retail banking and fintech, I was drawn to Breakout Capital as they have successfully combined strong credit and ethics fundamentals from traditional banking while still efficiently delivering capital to small businesses,” said Mr. McCammon.
Breakout Capital has quickly established a reputation as one of the most trusted and respected lenders in the market with a focus on product innovation, transparency, responsible lending and a partnership-based approach that extends beyond providing capital. Additionally, Breakout Capital is a Principal Member of the Innovative Lending Platform Association (ILPA), the leading trade organization representing a diverse group of online lending and service companies serving small businesses.
About Breakout Capital
Breakout Capital, headquartered in McLean, VA., is a technology-enabled direct lender which has provided a wide range of working capital solutions to small businesses across the country. In addition to becoming one of the fastest growing companies in the market, Breakout Capital is a leading advocate for small business. Its CEO, Carl Fairbank, is a Board Member of the Innovative Lending Platform Association. Breakout Capital has produced a highly regarded “educational series” through its blog, Breakout Bites, that helps small businesses better understand the technology-enabled lending market and how to avoid the hidden fees and debt traps that are prevalent in the industry. With a laser focus on educating small businesses, advocating for industry-wide best practices, and providing diverse, transparent working capital solutions, Breakout Capital is changing the financial landscape for millions of small businesses in need of funding. For more information, visit http://www.breakoutfinance.com.
