BFS Capital, a small business financing company, appointed Michael Marrache as CEO 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. 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.

“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 said.

In April, Coral Springs, FL-based 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.