TakeCharge Capital Acquires SBS Capital

July 29, 2013
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For early release on Merchant Processing Resource:
takecharge capitalNEWINGTON, CT- TakeCharge Capital, LLC, an MCA and Loan Service Provider based in Connecticut, proudly announces the acquisition of SBS Capital, LLC a financial services company providing merchant cash advances and credit card processing based in Newington, Connecticut. SBS Capital will rebrand its company under TakeCharge Capital and has appointed Aaron Shimkowitz COO of TakeCharge Capital, former VP of SBS. “TakeCharge’s MCA Portfolio now encompasses 28 Million in Funding to small-mid sized businesses nationwide, including 400+ credit card processing merchants added to the TakeCharge Payments Portfolio respectively.” stated Sam Kota, CEO at TakeCharge.

To accommodate growth, TakeCharge Capital has relocated from 705 North Mountain Road in Connecticut to prime 4,000 square ft facility located on 2600 Berlin Turnpike in Newington Connecticut. “With about 100,000 drivers passing through the turnpike everyday and over 32,000 businesses within a 30 Mile Radius, the Berlin Turnpike marks the first storefront location in our New Retail Strategy. The end-to-end model coupled in a retail environment is by far the best user experience, as we’ve learned from outside industry leaders such as apple and the gap” states Shimkowitz.

In addition to the expansion, TakeCharge Capital has promoted:

  • George Korhonen- SVP of Business Development at TakeCharge Capital. In this new role, Mr. Korhonen will continue to develop TakeCharge’s core business and lead new partnerships within the trucking and medical industries.
  • Rebeqa Abrams- VP of Operations at TakeCharge Capital. In this new role, Ms. Abrams will continue to manage business operations and direct new operational initiatives to reduce costs and increase overall company efficiency.

And newly appointed:

  • Aaron Shimkowitz- Chief Operations Officer at TakeCharge Capital, former VP at SBS. In this new appointment, Aaron will spearhead and oversee all operations, accounting and day to day corporate responsibilities.
  • Nicole Beaudry- VP of Funding at TakeCharge Capital, former Director of Cash Management at SBS. In this new appointment, Nicole will oversee funding partnerships and refinance department.
  • Jennifer Burke- VP of Sales at TakeCharge Capital, former Executive Underwriting Specialist at SBS. In this new appointment, Jennifer will oversee sales and portfolio retention.

“This partnership with Aaron’s team, further attributes to our long-term strategy of creating a google-like culture with top notch talent and a passion to design technology specifically for the small business community we serve.” states Kota.

TakeCharge Capital, LLC, based in Newington Connecticut is a privately-held financial technology company providing loan and payment services to business owners nationwide. For more information, visit or email To speak directly with a TakeCharge Representative reach us Toll-free at 877-417-9473.

Betting on the Future With Merchant Cash Advance

November 14, 2012
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iso&agentAn excerpt of the article in ISO&Agent’s November/December 2012 Issue:

“The business of merchant cash advances is changing, and ISOs are finding they need to do the same to keep up.

Long considered a niche product ISOs could rely on to add value to a contract, today’s cash advance market is highly competitive and heavily saturated. The situation creates a tradeoff for ISOs. On one hand, more merchants are aware of cash advance, which means there’s more demand for it. At the same time, more financial services providers are offering it, and that means greater competition.

With credit card companies offering cash advance and alternative lending, it can be tougher for ISOs to build loyalty among the merchants who receive them, ISOs and merchant cash advance providers say. ISOs might also have to overcome the negative reputation merchant cash advance has in some circles.

ISOs should rethink their strategies and stay on top of merchants when it comes to cash advance, says Sean Murray, CEO of Raharney Capital, a New York consulting firm that caters to merchant cash advance companies. “You know the saying, ‘Always be closing?’ Well, you should always be offering merchant cash advance,” he says.

It’s not uncommon for an agent to offer a merchant cash advance in January, then come back to try again in March only to find that 10 other ISOs hit up the merchant in February, Murray says. “You can’t just throw it in there casually every few months. Everyone is marketing cash advance,” he says.

But opportunities arise…”

Read the full article in the November/December magazine available on the site.

It requires you sign up for a FREE subscription


Strategic Funding Leads Investor Group to Acquire Assets of BankCard Funding

August 8, 2012
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For Release on MPR: New York, NY – August 8, 2012. Strategic Funding Source, Inc., announced that it has led an investor group in the purchase of the assets of BC Funding, LLC, doing business as – BankCard Funding (BCF), through an Article 363 auction process of the Eastern District of the US Bankruptcy Court in Long Island, NY. Both Strategic and BCF are leading providers of merchant cash advance and alternative finance products to small and mid-sized businesses throughout the United States. The purchase included the entire performing portfolio of merchant cash advance contracts along with all other tangible and intangible assets of the company.

“This purchase is an extremely positive development for the newly restructured BankCard Funding, its merchants, sales partners and creditors.” said Andrew Reiser, CEO of Strategic Funding. “We have a long and profitable relationship with BankCard Funding and look forward to working with Barry Sharf as he positions the company for future growth.” The newly reorganized company will continue to operate independently under the BankCard Funding name with Mr. Sharf directing new business development. Funding and servicing of all merchant advances and investor syndication accounts will be done on the Colonial Funding Network, a wholly owned subsidiary of Strategic Funding.

Mr. Sharf commented that “this is an outstanding opportunity for BankCard Funding to expand its unique business model. There are distinct differences in the market positioning of each company and this alliance permits for broader market penetration, financial stability and improved operational efficiencies. Partnering with Strategic and its Colonial technology platform will allow both companies to compete more effectively in a highly charged market. I am very excited about this new relationship.” BCF will continue to operate from their Syosset, New York offices.

About Strategic Funding Source, Inc. –
Strategic Funding Source, Inc. ( ) is a leading provider of specialty finance solutions in the form of merchant cash advances through credit card receivables purchasing, revenue based financing (RBF-ACH) of bank deposits and commercial loans to thousands of small businesses nationwide. Strategic is recognized as the technology leader in servicing the factoring and loan transactions of over 100 funding companies and investor partners. Established in 2006, Strategic has financed thousands merchants by purchasing more than $325 million of receivables from small and mid-sized businesses. The company maintains its headquarters in New York City and regional offices in Williamsburg, Virginia and Seattle, Washington.

David C. Sederholt, Chief Operating Officer
Strategic Funding Source, Inc.
Phone: 212-354-1400

Law to Reduce Debit Card Fees to Retailers Has Opposite Effect

December 12, 2011
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We’ve had many negative things to say about the debit card reform law that went into effect a few months ago (AKA the Durbin Amendment). We’ve repeatedly made claims that retailers won’t participate in the savings but for the few that do, those savings won’t be passed on to the consumer.

According to a recent article in the Wall Street Journal, something much worse is happening; Debit card fees are going up!


“Jason Scherr had a lot on his mind the day after he opened his fifth Think Coffee shop in Manhattan last week. The fan was blowing too hard, the classical music was playing a little too loudly—and he was trying to figure out how to get more customers to pay with cash.

Manhattan coffee-shop owner Jason Scherr says his debit-card fees are higher since the Dodd-Frank law.

A new law that was supposed to reduce costs for merchants that accept debit cards has instead sent Mr. Scherr’s monthly processing bills much higher and forced him to reassess the way he does business.

“My choice is to raise prices, discount for cash or get an ATM,” says Mr. Scherr, a lawyer who has been in the coffee-shop business for more than a decade.

Just two months after one of the most controversial parts of the Dodd-Frank financial-overhaul law was enacted, some merchants and consumers are starting to pay the price.

Many business owners who sell low-priced goods like coffee and candy bars now are paying higher rates—not lower—when their customers use debit cards for transactions that are less than roughly $10.

That is because credit-card companies used to give merchants discounts on debit-card fees they pay on small transactions. But the Dodd-Frank Act placed an overall cap on the fees, and the banking industry has responded by eliminating the discounts.

“There will be some unhappy parties, as there always is when the government gets in the way of the free-market system,” says Chris McWilton, president of U.S. markets forMasterCard Inc. He said the company decided that it couldn’t sustain the discounts under the new rate model because the old rates had essentially subsidized the small-ticket discounts.

Merchants now are trying to offset their higher rates by raising prices, encouraging customers to pay in cash or dropping card payments altogether.


Read the full article at

New to the Merchant Cash Advance Industry? Read first!

November 2, 2011
Article by:

Thinking about starting a career in the Merchant Cash Advance industry or becoming a funding source? We’ve compiled some tips from the people already on the inside. Comments were gathered and organized from an insider discussion board at



1. You will apparently need a pair of these:


2. You will need training from those with experience. You can’t get into this market without being familiar with its complexities. Having financial experience, mortgage experience, etc. will help but is not enough to make it without additional training.

– WHAT WAS SAID: “until you learn how each company operates and understand the products, this market is way too competitive to not have support.


3. The market is extremely competitive.


4. Partner up with companies that fit your needs and capabilities.

– WHAT WAS SAID: “You’ll have to find the MCA companies that fit your ethics. They’re all different, good, bad, fast, slow, flexible, inflexible, etc.


5. Offer alternative products. A Merchant Cash Advance is not the right fit for every business. You will need to provide or refer alternatives such as SBA Loans or Micro Loans if the situation warrants it.

Don’t Make Us Pay is Back at it Again

October 21, 2011
Article by:

After months of silence, we received a mass e-mail yesterday from the infamous

Tell Your Congressman: Repeal the Durbin Amendment!
Take Action! 

You know all too well the harm that the Durbin amendment on debit cards has caused to debit card users like you. Across America, we’re seeing higher fees, the end of free checking and disappearing rewards – without a penny of savings at the cash register.

Fortunately, some members of Congress are standing up for consumers. They’ve introduced legislation that would repeal this harmful amendment and reverse the harm it’s causing for debit card users.

This legislation won’t pass without your help. Click the link to send a letter to your representative, and ask them to co-sponsor this important legislation. And don’t forget to spread the word about this important effort.

  • Use the #DurbinFees hashtag on Twitter to tell your followers why we need this legislation to prevent higher debit card fees.
  • Post a link to the letter on Facebook, and ask your friends to join the effort.
  • Let’s join together and make our voices heard: repeal the Durbin amendment. Don’t make us pay.

    SBA Lending Statistics for Major Programs (as of 9/23/2011)

    September 29, 2011
    Article by:

    This report provides statistics on Year to Date (YTD) SBA Business Loan Approval Activity comparisons for Fiscal Years 2009, 2010, and 2011 for the period ending 09/23/2011.

    Attachments:SBA 7a and 504 Gross Loan Approval Volume as of 9-23.pdf

    IAC - In Advance Capital

    Global Funding Experts


    SOS Capital

    Green Note Capital


    Symplifi Capital

    Smart Business Funding

    South End Capital


    Highland Hill Capital

    Fox Business Funding

    Unique Funding Solutions


    Meridian Leads

    Bitty Advance

    Wynwood Capital Group

    Balboa Capital

    Merchant Financing Leads

    Forward Financing

    deBanked CONNECT MIAMI

    Pearl Capital


    Main Street Finance Group

    ROK Financial

    Accord Business Funding