BFS Capital closes $165 million restated loan and security agreement

By Tali Rackner

Norfolk, Va., Feb. 4 – BFS Capital Inc. said it entered into a $165 million amended and restated loan and security agreement with Wells Fargo Capital Finance as administrative agent, according to a Tuesday press release.

The agreement may be increased up to a total amount of $250 million.

The new facility represents an increase from the previous line of $135 million to support the company’s ability to address continuing demand for small business financing in North America.

“We are very pleased with this deal, which reinforces our strong relationship with our banking partners,” co-founder and CEO Marc Glazer said in the release.

“The improved and expanded credit line boosts our funding capabilities to meet increasing demands of small businesses across diverse sectors. The new facility underscores our confidence in the sustained growth of the industry and our commitment to being a champion for small business.”

BFS Capital is a Coral Springs, Fla.-based small business financing company.

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