Daily News: August 20, 2012

Five Point Capital Grows Small Business Financing Team

San Diego-based Five Point Capital said it hired nine additional sales representatives to supplement its growing small business financing sales force. This is the third round of hiring that Five Point Capital has completed since the beginning of the year and brings its sales staff to over 30.

“We are seeing steady growth in demand for credit from small businesses,” said Dave Gilbert, owner and CEO of Five Point Capital. “Since coming back to run the company, I have committed to growing our customer base and expanding lending activities. This addition to our sales force is just another way to prepare for additional small business growth. Business owners have indicated to us that they are ready to expand and we are working to help them do so as this market is beginning to come alive,” Gilbert said.

Under new management in 2012, Five Point Capital was started in 1999. Originally just a leasing company, Five Point Capital has since expanded its product line to include merchant cash advances, small business loans and working capital loans. “I think that recent research shows that nearly 90% of small business lending requests were denied by banks in 2011,” added Tom Brainerd, VP of marketing for Five Point Capital. “We have been able to meet the needs of business owners who are frustrated by the lack of credit availability. They have almost given up on finding credit. Our programs offer an alternative source of financing for this type of small business,” Brainerd said.