BriteCap Financial, a data-driven financial services company dedicated to improving the financial health of America’s small businesses, established a new receivable financing facility from funds managed by One William Street Capital Management (OWS) affiliates. The facility will support a notable increase in BriteCap’s capabilities by providing up to $150 million over a three-year revolving period.
“We recognize the dedication and perseverance it takes to build a thriving enterprise,” Sri Kaza, CEO of BriteCap, said. “With traditional banks often falling short, BriteCap is stepping up to provide greater access to capital for underserved small businesses. The newly launched facility is designed to empower entrepreneurs and fuel their growth.”
“We are excited to partner with BriteCap and to provide this financing solution that enables BriteCap to effectively deliver funding to small businesses and better positions it to navigate the current market environment,” Alex Saporito, portfolio manager at OWS, said.
“As long-term capital providers to BriteCap, we are pleased to have the support of One William Street,” David C. Lee, chairman and CEO of North Mill Equipment Finance, said. “This new credit facility provides BriteCap the capital to scale and grow with more attractive terms and repayment options for A-credit businesses. The team at North Mill is committed to advancing BriteCap and to supporting the financial needs of small businesses.”
