Specialty Capital, LLC, a leading technology driven specialty finance company, has closed on a $10 million credit facility with a U.S. based, alternative credit asset manager. The facility will provide Specialty Capital with an initial borrowing capacity of $10 million to expand its funding capabilities, strengthen their ability to provide funding for small businesses, and grow their overall book of business. Specialty Capital intends to utilize the credit facility to scale up its partnership program, accelerate the growth of its small business funding platform, fund new originations, support its partners, and enhance their ability to take advantage of market opportunities. “We are excited about this investment in our company, and it speaks volumes of what we have accomplished in such a short span of time in an extremely competitive space,” commented Boris Kalendarev, CEO of Specialty Capital.
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“In this economic environment, small businesses need the right alternatives when it comes to deciding how to gain access to working capital for their businesses,” said Boris Kalendarev. “In just 14 months of operation, we’ve seen an incredible appetite for working capital that’s flexible, fast, and complimentary to traditional funding methods. Our mission is to automate the process for our referral partners and small business merchants in all touch points of the process. Our goal is to become the preferred source of Revenue Based Financing for small businesses across the continental United States.
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Specialty Capital is also proud to announce the hiring of their new Chief Risk Officer, Natan Hayes. Hayes brings with him nearly a decade of experience working in the alternative finance space. Previously, Hayes served as the Director of Underwriting in Advantage Capital Funding and is thrilled to join the journey of Specialty Capital. “After nearly a decade underwriting in the FinTech space, I have seen massive growth in the market, and huge change in the competitive landscape. I am very excited to start this journey with Specialty Capital, as they have great leadership and a keen sense for how to succeed in an increasingly competitive and growing market,” Hayes commented. “Natan, is a key addition to our growing team and we are delighted to have him on board. With him at the helm of our risk infrastructure, we will start working on developing other products that can enable small business owners to focus on what matters most” added Boris.
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