Business Financial gets expanded $82 million facility with Wells Fargo

By Susanna Moon

Chicago, April 24 - Business Financial Services, Inc. said it obtained an $82 million credit facility with Wells Fargo Capital Finance.

The new credit line replaces a smaller facility with another lender, according to a company press release.

The facility bolsters the company's ability to serve the owners of small and medium-size businesses throughout the United States and through affiliates in Canada and the United Kingdom, the company said in the release.

"This new credit line will enable us to help even more businesses address their ongoing needs and take advantage of real opportunities," Marc Glazer, chief executive officer and co-founder of the company, said in the release.

"With quick funding of loans as small as $4,000 and as large as $2,000,000 that are structured to meet the needs of the borrower, we help fill a critical credit gap in the economy."

Business Financial is a specialty finance company providing short-term loans and cash advances to owners of small and medium-size businesses. The company is based in Coral Springs, Fla.

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