Daily News: September 26, 2014

GLI Finance Leads The Credit Junction Investment

The Credit Junction secured $2 million in seed funding, led by GLI Finance.

SMEs have found it increasingly difficult to borrow the funds needed to sustain and grow their businesses. This trend has been exacerbated by large companies putting pressure on their supply chain by unilaterally extending out payments to suppliers for goods and services received. The Credit Junction’s online platform will provide alternative financing solutions resulting in increased working capital flexibility and decreased borrowing time for SMEs.

As traditional banks remain risk averse and undercapitalize the small business market, The Credit Junction will use emerging technologies to make loans available in less time, drive SME growth and expand new markets leading to job creation.

Geoff Miller, CEO of GLI Finance, said “This investment is a perfect fit within our strategy of focusing on niche lending to SMEs and enables us to add another U.S. platform to our portfolio. We are delighted that Michael and his team have chosen to partner with us, and we look forward to building on this investment.”

Michael Finkelstein, CEO of The Credit Junction, said, “We are thrilled to have GLIF lead this investment round and extremely excited to work with Geoff and his team. The Credit Junction’s vision is to transform the way small and mid-size enterprises finance their supply chain and working capital needs. We look forward to working with the GLIF family of investments and finding synergies to bring added value to the network.”