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User:DomStapleton/BFS Capital

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Business Financial Services Inc.
BFS Capital
Company typePrivate
IndustryFintech
Founded2002; 22 years ago (2002)
Founders
  • Cathy Bass
  • Marc Glazer
HeadquartersCoral Springs, Florida, United States
Key people
ProductsBusiness loans
Number of employees
251-500[1]
SubsidiariesBoost Capital (UK)
Websitebfscapital.com

BFS Capital (officially known as Business Financial Services Inc.) is an alternative finance company based in the United States and Canada which provides business loans to small and medium-sized enterprises (SMEs).[2][3][4] The company provides funding to businesses throughout the US and Canada, and the UK through its affiliate Boost Capital.

History

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Business Financial Services Inc. rebranded itself as BFS Capital in 2015.[2]

In 2017, the company reported that it had provided over $1.7 billion in funding since its first deal in 2002.[2]

In February 2018, BFS Capital announced it had received a new $175 million revolving credit line provided by funds managed by Ares Management. The company said it would use the new facility to grow its lending business following a record year in which they generated more than $300 million in originations.[3][5][6]

In November 2018, the company appointed Mark Ruddock as CEO. Ruddock replaced co-founder Marc Glazer who was serving as interim CEO after the departure of the Michael Marrache.[7][8] In May 2019, BFS Capital announced that they'd hired Fred Kauber as CTO. Kauber also serves as an an adjunct professor in the graduate program of the NYU School of Professional Studies.[9][10][11] In November 2019, BFS Capital announced that Brian Simmons would be joining their executive team as COO.[12][13][14][15][16]

In October 2019, the company rebranded and eliminated upfront fees from all their products, with the announcement they they were also preparing to roll out a new, state-of-the-art lending platform.[17] BFS Capital also announced that they had opened a new data science and engineering hub in Toronto, with plans to hire up to 50 staff.[18][19][20][21]

References

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  1. ^ "BFS Capital". Crunchbase.
  2. ^ a b c "BFS Capital's Into Money: Extends Over $1.7 Billion to SMEs Since 2002". Crowdfund Insider. 2017-12-07. Retrieved 2019-01-03.
  3. ^ a b "BFS Capital Announces New $175 Million Credit Line". www.businesswire.com. 2018-02-20. Retrieved 2019-01-03.
  4. ^ "BFS Capital". Crunchbase. Retrieved 2019-12-18.
  5. ^ "BFS Capital Announces New $175 Million Credit Line". www.bizjournals.com. Retrieved 2019-01-03.
  6. ^ "BRIEF-BFS Capital Says Received $175 Million Revolving Credit Line..." Reuters. 2018-02-20. Retrieved 2019-01-03.
  7. ^ "BFS Capital Appoints Mark Ruddock as Chief Executive Officer". AP NEWS. 2018-11-28. Retrieved 2019-01-03.
  8. ^ Stone, Todd. "BFS Capital Announces New CEO". deBanked. Retrieved 2019-01-03.
  9. ^ "BFS Capital Appoints Fred Kauber as Chief Technology Officer and Chief Product Officer". www.businesswire.com. 2019-05-23. Retrieved 2019-12-18.
  10. ^ "BFS Capital Appoints Fred Kauber as Chief Technology Officer and Chief Product Officer". www.bloomberg.com. Retrieved 2019-12-18.{{cite web}}: CS1 maint: url-status (link)
  11. ^ "Fred Kauber, BFS Capital Inc: Profile and Biography - Bloomberg Markets". www.bloomberg.com. Retrieved 2019-12-18.{{cite web}}: CS1 maint: url-status (link)
  12. ^ "BFS Capital Names Brian Simmons as Chief Operating Officer". www.businesswire.com. 2019-11-12. Retrieved 2019-12-18.
  13. ^ Releases, Business Wire News (2019-11-12). "BFS Capital Names Brian Simmons as Chief Operating Officer | Financial Post". Retrieved 2019-12-18. {{cite web}}: |first= has generic name (help)
  14. ^ Garrett, Brendan. "BFS Capital Hires New COO". deBanked. Retrieved 2019-12-18.
  15. ^ November 2019, 13th. "BFS Capital swings in new ex-axe throwing exec". FinTech Futures. Retrieved 2019-12-18.{{cite web}}: CS1 maint: numeric names: authors list (link)
  16. ^ "BFS Capital Names Brian Simmons as Chief Operating Officer". Fintech Finance. 2019-11-12. Retrieved 2019-12-18.
  17. ^ "BFS Capital Eliminates Upfront Fees to Simplify Financing for Small Business Owners". www.businesswire.com. 2019-10-01. Retrieved 2019-12-18.
  18. ^ Releases, Business Wire News (2019-10-09). "BFS Capital Opens New Data Science and Engineering Hub in Toronto | Financial Post". Retrieved 2019-12-18. {{cite web}}: |first= has generic name (help)
  19. ^ "Full Page Reload". IEEE Spectrum: Technology, Engineering, and Science News. Retrieved 2019-12-18.
  20. ^ "BFS Capital opens new data science, engineering hub in Toronto". BetaKit. 2019-10-09. Retrieved 2019-12-18.
  21. ^ "BFS Capital launches data science and engineering hub in Canada". NS Banking. 2019-10-10. Retrieved 2019-12-18.
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Category:Financial services companies established in 2002 Category:Companies based in Florida Category:Financial services companies of the United States

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