Daily News: April 24, 2013

WFCF Provides $82MM to Business Financial Services

Business Financial Services, a specialty finance company, announced a new $82 million credit facility provided by Wells Fargo Capital Finance. 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,” said Marc Glazer, CEO and co-founder 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. With quick funding of loans as small as $4,000 and as large as $2 million that are structured to meet the needs of the borrower, we help fill a critical credit gap in the economy.”

Business Financial Services provides short term loans and cash advances to owners of small and medium-size businesses.