User:DomStapleton/BFS Capital

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). The company provides funding to businesses throughout the US and Canada, and the UK through its affiliate Boost Capital.

History
Business Financial Services Inc. rebranded itself as BFS Capital in 2015.

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

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.

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. 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. In November 2019, BFS Capital announced that Brian Simmons would be joining their executive team as COO.

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. 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.