Daily News: November 29, 2017

CFG Merchant Solutions Upsizes i2B Capital ABL to $8MM

i2B Capital, a provider of senior secured loans to niche-market financial entrepreneurs, increased its original $4 million asset-based revolving line of credit with CFG Merchant Solutions (CFGMS) to $8 million on its first anniversary.

“CFGMS gave us the perfect opportunity to show our investors how i2B can grow emerging market borrowers into much larger opportunities applying asset-based lending principals to non-traditional receivable assets in an early stage specialty finance company. We funded approximately $1.3 million at closing in September of 2016,” said. Larry L. Curran II, CEO of i2B Capital.

William Gallagher, president of CFGMS said, “Since closing our senior line of credit with i2B, we have steadily grown our monthly and quarterly funding volumes at CFGMS. i2B continues to be a valuable funding partner to CFGMS in our mission to deliver working capital to small and medium-sized businesses nationwide. We just completed our largest funding and collection month to date. The upsize to our current credit facility will provide us with certainty of funding, and the confidence to continue to grow our expanding platform at CFG Merchant Solutions.”

CFGMS is a subsidiary of CapFlow Funding Group, a commercial finance company that offers an array of products such as factoring, purchase order finance, and asset-based loans. Both companies are headquartered in Rutherford, NJ.

i2B Capital, headquartered in Fort Collins, CO, provides senior debt and direct asset investments for growth capital to qualifying entrepreneurs and equity-backed, emerging consumer and commercial, specialty finance companies throughout the U.S.