Business Financial Services (BFS), a leading specialty finance company since 2002, announced a new $82 million credit facility provided by Wells Fargo Capital Finance, part of Wells Fargo & Company.
The new credit line, which replaces a smaller facility with another lender, bolsters the company’s ability to serve the owners of small- and medium-size businesses throughout the United States, and through affiliates in Canada and the United Kingdom.
“Business Financial Services has grown rapidly over the last 11 years by effectively serving business owners whose working capital needs are not met by traditional funding sources,” says Marc Glazer, CEO and cofounder of the company.
“This new credit line will enable us to help even more businesses address their ongoing needs and take advantage of real opportunities,” he adds. “With quick funding of loans as small as $4,000 and as large as $2,000,000 that are structured to meet the needs of the borrower, we help fill a critical credit gap in the economy.”