Announcements
Velocity Capital Group Welcomes Jesse Guzman as New Chief Revenue Officer
August 28, 2024
Cedarhust, New York – 08/28/2024 – Velocity Capital Group is thrilled to announce the appointment of Jesse Guzman as its new Chief Revenue Officer (CRO). With a distinguished career in revenue leadership, Jesse brings a wealth of experience and a proven track record of driving growth and innovation in the financial services industry.
Jesse Guzman joins Velocity Capital Group after serving as Chief Revenue Officer at Nexi from 2020 to 2024, where he played a pivotal role in the company’s growth and successful rebranding. Before his tenure at Nexi, Jesse was the Director at Arcarius LLC from 2017 to 2020, where he honed his expertise in financial strategy and revenue optimization.
In his new role at Velocity Capital Group, Jesse will leverage his extensive industry experience to lead the company’s revenue strategies, focusing on expanding funding options for merchants and enhancing support for Independent Sales Organizations (ISOs). His fresh ideas and innovative approach are expected to propel Velocity Capital Group to new heights, further solidifying its position as a leader in the alternative finance space.
“We are incredibly excited to welcome Jesse Guzman to the Velocity Capital Group team,” said Jay Avigdor, President & CEO of Velocity Capital Group. “Jesse’s deep understanding of the industry, combined with his visionary leadership, will be instrumental in helping us achieve our ambitious goals. We are confident that his expertise will enable us to provide even more funding to merchants and offer our ISOs the best service they’ve ever experienced.”
Jesse Guzman expressed his enthusiasm about joining the company, stating, “Velocity Capital Group has an outstanding reputation for innovation and excellence in the alternative finance industry. I am excited to bring my experience and fresh perspective to the team and to contribute to the company’s continued success. Together, we will explore new opportunities to better serve our clients and partners.”
About Velocity Capital Group
Velocity Capital Group is a leading provider of revenue-based financing solutions for small and medium-sized businesses. Leveraging advanced analytics and a deep understanding of the SMB sector, Velocity Capital Group offers tailored funding solutions that drive sustainable growth. With a commitment to innovation and customer service, the company partners with Independent Sales Organizations (ISOs) to deliver exceptional value to clients nationwide.
Media Contact:
Bogdan Klubuk
Marketing Director
Velocity Capital Group
Bogdan@velocitycg.com
www.Velocitycg.com
Five Leading Innovative Banks Join American Fintech Council (AFC), Expanding Collaborative Efforts With Fintech Industry Leaders and Regulators To Develop Future of Finance
August 28, 2024
Washington, D.C. (August 28, 2024) – The American Fintech Council (AFC), the premier industry association representing responsible fintech companies and innovative banks, has announced the addition of five new members representing regional and community banks committed to fintech innovation. In joining AFC, the five banks bring deep history and experience serving community needs, as well as leading fintech platforms and services that are driving unprecedented value for customers both local and national.
“We are immensely proud to welcome our five new innovative bank members, but this announcement is about far more than AFC,” said Phil Goldfeder, Chief Executive Officer of AFC. “Financial technology has been a disruptive force helping to expand access to financial services for millions, particularly underserved communities. Yet, regulators have far too often applied inconsistent and unclear standards to responsible fintech providers – failing to consider the needs of consumers and the realities of who benefits from the inclusive, transparent, customer-centric services our members provide. Adding five more responsible innovative banks to our membership, sends a clear signal that fintech is the future of finance, and the scope of responsible innovation happening across the industry is far too significant to be ignored.”
AFC has consistently advocated for a unified and pragmatic regulatory approach towards innovation. Building on its mission to develop sound public policy, AFC has engaged significantly with federal prudential regulators and made its members’ views understood across the government.
More about AFC’s five new members:
- Lincoln Savings Bank, founded 1902, is owned and managed by Iowans and offers full-service community banking and financial services, as well as fintech and Banking-as-a Service (Baas) offerings through its LSBX division founded in 2014.
- New Horizon Bank was founded in 2009 by local business owners in Powhatan, VA looking for a community-focused bank; New Horizon combines traditional banking with technology and innovation that anticipate community needs.
- Republic Bank has served Chicagoans since 1964; in addition to traditional bank offerings, family-owned Republic Bank is the payments and fintech partner for Fortune 500 companies, national retailers, and nationwide auto insurers.
- Stearns Bank was founded in Minnesota in 1912 and has since grown to serve customers in Arizona and Florida; in 2021, Stearns entered the embedded finance and BaaS spaces with a continued focus on expanding access to responsible credit and capital.
- TransPecos Banks offers a full range of banking products as well as fintech services concentrated in the TransPecos region of West Texas and San Antonio; founded in 1928, TransPecos Banks embraces technology and innovation to better serve local communities and businesses.
A standards-based organization, AFC is the premier trade association representing the largest financial technology (Fintech) companies and innovative BaaS banks. AFC’s mission is to promote a transparent, inclusive, and customer-centric financial system by supporting responsible innovation in financial services and encouraging sound public policy. AFC members foster competition in consumer finance and pioneer products to better serve underserved consumer segments and geographies.
Airborne Capital Closes Its Debut Investment-Grade Corporate Note Financing
August 21, 202421 August 2024 – Airborne Capital Limited (“Airborne Capital”), a leading global aircraft asset manager, announced the closing of a US$20.0 million investment-grade rated corporate note financing offered through its U.S. subsidiary Airborne Capital USA LLC. Proceeds from the transaction will be used to refinance existing debt and for growth capital.
Airborne Capital currently manages in excess of US$2 billion of aircraft assets for a wide variety of institutional investors and airlines across the globe.
“This new capital raise paves the way for further growth and allows us to continue expanding our asset management business. This financing reflects our strong commercial position, and better positions us to serve our clients in the increasingly evolving aviation space” said Hari Raghavan, Partner at Airborne Capital. “This transaction marks a significant milestone for Airborne. It represents the confidence that institutional investors have in Airborne Capital.”
Brean Capital, LLC served as Airborne Capital’s Exclusive Financial Advisor and Sole Placement Agent in connection with the transaction.
About Airborne Capital Limited
Airborne Capital is a specialist aircraft leasing and asset management business headquartered in Ireland and with a presence in Shannon, Dublin, London, New York, Hong Kong and Tokyo. Airborne Capital manages approximately US$2 billion of aircraft assets through active relationships with a global set of investors. Airborne Capital is substantially owned by the management of the group.
For additional information about Airborne Capital, visit: https://airborne.capital/
Contact:
Christopher Simmons – Portland Communications
Christopher.simmons@portland-communications.com
Rapid Finance a Diamond Sponsor of B2B Finance Expo
August 8, 2024
Rapid Finance is a Diamond Sponsor at the inaugural B2B Finance Expo taking place at Wynn Las Vegas from September 23-24. The conference will bring together the leading lenders, funders, and brokers from across the spectrum of commercial finance, leasing, mortgage, and revenue-based capital products.
The Small Business Finance Association (SBFA), of which Rapid Finance is a founding board member, will play an important role at the event. The SBFA is a group of technology-driven financial service companies specifically focused on providing efficient and responsible capital to small and medium businesses – independent businesses – across America. Rapid Finance was founded in 2005.
“At Rapid Finance, we are deeply committed to empowering small business owners with the capital they need to thrive,” said Will Tumulty, CEO of Rapid Finance. “As a founding board member of the SBFA, we proudly support independent businesses across America. Events like the B2B Finance Expo are crucial in bringing together industry leaders and fostering collaboration and innovation, and we are excited to play a role in launching this event and contributing to the commercial finance sector’s growth.”
The B2B Finance Expo is powered by deBanked which has produced nearly two dozen commercial finance related conferences since 2017. To register CLICK HERE.
North Mill Sets New Monthly Origination Records in July
August 5, 2024August 5, 2024, NORWALK, CT – North Mill Equipment Finance LLC (“NMEF”), a leading independent commercial equipment lessor headquartered in Norwalk, Connecticut, announced today that the company had a record-breaking month in July as funded volume surged to more than $56 million, an increase in loan and lease originations of 33% from the same period last year.
“We are firing on all cylinders and well poised to continue our growth trajectory,” said David C. Lee, Chairman and CEO, North Mill. “We have a strong capital base, a loyal and ever-expanding group of referral partners who consider NMEF their primary lender, and a diversified portfolio that helps us mitigate the economic woes that plague specific industries like the trucking sector.”
According to Lee, NMEF has been steadily rebalancing its book of business, providing its referral partners with more opportunities to finance a variety of equipment. “Historically, trucking related collateral, both local and long-haul, represented an average of 40% of our originations whereas today it embodies just 15% of what we finance,” he said. “Medical, franchise, and construction collectively now represent almost 60% of our funding volume.” In another pivotal move to diversify, NMEF has grown its vendor program in partnership with referral partners, including banks, captives and other funding sources. In addition to the high watermark in originations, the company’s weighted average FICO reached 735, weighted average yields are north of 13%, and submission approval rates are approaching 60%.
While many equipment lenders have reduced or even ceased funding operations over the past year, NMEF has been selectively adding to its team. Joining the company as an Assistant Vice President, Relationship Manager, is Mary E. Armstrong, CLFP who brings over twenty years of referral partner relationships while holding similar roles at Financial Pacific, Marlin, and Canon. “We are very excited to welcome Mary to the NMEF family of companies,” said Paul Cheslock, VP of Customer Relations, NMEF. “Her reputation is stellar. Brokers, customers, and colleagues alike have commented on her talent, innate sales ability, and professionalism.” Ms. Armstrong reported “making the decision to join NMEF was not difficult. For quite some time, I’ve been aware of NMEF’s reputation as a progressive leader and trailblazer.”
Also joining NMEF is Zacchary Lee, Sr. Analyst, Corporate Development, who will assist the finance team with budgeting, portfolio analytics, and the execution of strategic initiatives. An honors graduate of The Wharton School at the University of Pennsylvania, Mr. Lee brings 5 years of experience in financial services.
About North Mill Equipment Finance
NMEF originates and services small to mid-ticket equipment leases and loans, ranging from $15,000 to $2,500,000 in value. A broker-centric private lender, the company accepts A – C credit qualities and finances transactions for many asset categories including construction, transportation, vocational, medical, manufacturing, technology, franchise, renovation, janitorial and material handling equipment. NMEF is majority owned by an affiliate of InterVest Capital Partners. The company’s headquarters are in Norwalk, CT, with regional offices in Irvine, CA, and Voorhees NJ. For more information, visit www.nmef.com. One of NMEF’s controlled affiliates, BriteCap Financial LLC, is a leading non-bank lender providing small businesses with fast, convenient financing alternatives such as working capital loans since 2003 from its main office in Las Vegas, NV. For more information, visit www.britecap.com.
New Lender Designed to Support Underserved SMEs
July 23, 2024A new specialist lender has today been launched in response to evolving SME funding needs.
Rapital is set to transform the financial landscape to support both brokers and SME businesses facing difficulty in securing funding from existing lenders and banks.
Rapital will focus on offering a direct route for clients with challenging credit situations, such as poor credit, existing loans, CCJs and defaults with loans ranging between £5,000 and £250,000. With a focus on offering fast funding, Rapital aims to make decisions in as little as three hours so SMEs can access the cash boost they need quickly.
Access to funding is an evergreen issue for the UK’s vital SME community, with many struggling to get approval from traditional lenders. Indeed, according to the National Association of Commercial Finance Brokers’ (NACFB) annual lender and broker survey, 32% of new clients successfully funded by its members last year had been previously denied funding elsewhere – a 3% increase from 2022. Rapital has been launched to help close the gap and enable SMEs who might have been denied financing from traditional lenders to get the cash boost they need to succeed.
Rapital’s ambition is to help turn a “no” into a “yes” for SMEs needing rapid and flexible financing solutions. The service promises an easy, transparent process and same-day funding, empowering businesses to thrive and grow. In these challenging operating conditions, it is vital that smaller businesses have access to rapid and flexible capital. Rapital will offer a much-needed financial lifeline to the business profiles and industries that are often rejected by banks and other SME lenders.
About Rapital
Rapital’s mission is to empower businesses of all sizes, credit backgrounds and industries by providing brokers and SMEs with funding solutions tailored to meet the real-world challenges they encounter.
For media inquiries, please contact:
Rapital Media Team
Email: info@rapital.co.uk
Phone: 0161 884 0767
Website: rapital.co.uk
Capify Appoints Think Business Loans Founder as Director of Strategic Initiatives
July 18, 2024
Capify, a leading SME lender, has appointed Jamie Stewart as Director of Strategic Initiatives. Jamie, the founder and former MD of Think Business Loans, brings extensive experience and SME expertise to Capify. In his role at Think, he successfully oversaw the deployment of over £1 billion in funding to more than 10,000 customers, prior to its sale to Bionic in 2019. Since then, Jamie set up Anidea, a Strategic Consultancy firm.
Jamie’s arrival marks another milestone during a significant growth phase for Capify. Having leveraged a new £100 million credit line from Pollen Street Capital earlier this year, the company has made a succession of senior team appointments recently and is actively developing an expanded product suite.
“I’m thrilled to join the team at Capify as Director of Strategic Initiatives,” said Jamie Stewart. “Capify is a pioneer in the alternative lending space, with a solid foundation and a clear vision for the future. As a forward-thinking entrepreneurial company with a new range of innovative products, Capify is poised for significant growth. I look forward to collaborating with the team to develop new partnerships that will further enhance our ability to provide quick, reliable funding solutions to SMEs.”
Founded in the UK in 2008 during the global financial crisis, Capify has become a vital financial resource for small and medium-sized businesses. Recognised for its commitment to excellence, Capify was awarded SME Lender of the Year (up to £1m) at the UK Credit Awards last year. Originally launched in the United States in 2002, Capify was one of the world’s first online alternative financing companies for SMEs. Since its creation, Capify has supported over 20,000 businesses and funded over £1.2 billion to help SMEs achieve their growth ambitions.
John Rozenbroek, COO/CFO at Capify, commented, “We’re delighted to welcome Jamie to the Capify team. His extensive experience in SME lending and his proven ability to drive strategic growth are exactly what we need as we expand our operations and introduce new products. Jamie’s insight and leadership will be invaluable in achieving our mission to support SMEs with the funding they need to thrive.”
“Jamie’s appointment underscores our commitment to strategic growth and innovation, ensuring it remains at the forefront of the alternative finance industry, delivering unparalleled service and support to SMEs in the UK”.
ABOUT CAPIFY
Capify is an online lender that provides flexible financing solutions to SMEs seeking working capital to sustain or grow their business. Originally started in the US over twenty years ago, the fintech business now operates in the UK and Australia and has served these markets for over 15 years. In that time, it has provided finance to thousands of businesses, ensuring the vibrant and vital SME community can meet the challenges of today and the opportunities of tomorrow.
For more details about Capify, visit:
http://www.capify.co.uk
Media enquiries
Ash Yazdani, Marketing Director
ayazdani@capify.co.uk
Fundfi Merchant Funding Expands Services to Canada, Paving the Way for Financial Growth and Innovation
July 11, 2024Fundfi Merchant Funding, a leading provider of innovative financial solutions in the United States, is excited to announce its expansion into the Canadian market. With a proven track record of empowering businesses to achieve their goals through strategic funding, Fundfi Canada Inc. is poised to bring its expertise and dedication to support Canadian enterprises.
The decision to expand into Canada comes at a time when businesses across North America are seeking reliable and flexible financial support to navigate economic landscapes and fuel growth opportunities.
By extending its services to Canadian businesses, Fundfi Canada Inc. aims to bridge the gap between financial needs and solutions, empowering entrepreneurs to thrive in today’s competitive market environment.
The expansion into Canada reflects Fundfi Merchant Funding’s ongoing commitment to innovation, growth, and client satisfaction. By leveraging its extensive experience and deep industry knowledge, Fundfi Canada Inc. aims to become a trusted partner for Canadian businesses seeking reliable and strategic financial support.
As Fundfi Merchant Funding embarks on this exciting new chapter, it invites Canadian businesses to explore the diverse range of financial solutions and opportunities available to them. Whether it’s funding for expansion, equipment upgrades, working capital, or other business needs, Fundfi Canada Inc. is dedicated to helping Canadian businesses thrive and succeed.
For more information about Fundfi Merchant Funding and its expansion into Canada, please visit www.FundfiMerchantFunding.com.
