The proceeds will be used by Snap Capital to increase its ability to service small businesses that need short-term financing. Rosenblatt Securities served as advisor in the transaction.
Hunter Stunzi, president and co-founder of Snap Capital, commented, “We are delighted to partner with Old Hill. This facility will help us expand our current borrower base and reinvest in our core businesses, which distinguishes us from others in the industry. Old Hill’s depth of experience will be of great benefit to us as we target significant business growth in 2017 and beyond.”
Charleston, SC-based Snap Capital is a web-based company that is aims to make small business finance easier by reducing the complexities found in the traditional lending process.
Darien, CT-based Old Hill is an SEC-registered investment adviser with experience in all facets of asset-backed lending and alternative investment management.