World Business Lenders, a NYC-based provider of working capital to small businesses, secured $25m financing.
It includes $20m in debt financing and $5m equity capital round from accredited investors. The equity round includes a $3.75m investment by Business Development Corporation of America (BDCA), which also led the credit facility with participation from the company’s current lender, Harvest Capital Credit Corporation.
Led by Doug Naidus, CEO and founder, World Business Lenders specializes in providing short-term and flexible commercial loans for a range of operational needs such as finance temporary dips in cash flow, invest in new equipment, or make time sensitive inventory purchases.
The company, which recently began to scale its sales workforce and leased additional space at its headquarters in Times Square, New York, intends to use the financing to further expand its resources.
FinSMEs
08/10/2013