Strategic Funding Source, Inc., a New York City-based provider of direct financing to small and midsize businesses, received a $35m initial investment as part of a $110.0m line of equity financing from Pine Brook.
Pine Brook will provide the company with access to capital to promote future growth. Following the investment, the management team will continue to hold a significant interest in Strategic Funding Source.
Founded in 2006 and led by Andrew Reiser, Chairman and Chief Executive Officer, the company provides loans and cash advances to small businesses by combining technology and expertise as small business owners and financial industry experts. It works directly with small business owners to identify their capital requirements and create tailored financing options that suit their individual business models.
Strategic Funding Source also maintains regional offices in Virginia, Washington state, and Florida and has financed approximately $700m since inception.
Kirkland & Ellis and Proskauer Rose LLP acted as legal advisors to Pine Brook and Strategic Funding Source, respectively.
FinSMEs
06/09/2014