CFG Merchant Solutions, LLC (CFGMS), a provider of alternative funding for small and medium-sized businesses (SMBs), has upsized its investment-grade corporate note offering to $30 million, per a recent Press Release.
Key takeaways:
The note received a BBB rating from a nationally recognized ratings organization.
CFGMS has a proven track record, having funded over $1.3 billion to more than 31,000 SMBs since 2015.
The company plans to use the proceeds to fuel further growth.
This offering comes amid a trend of banks tightening credit, creating an opportunity for CFGMS.
CFGMS believes its unique platform positions it well to capture market share.
Executive Quotes
Andrew Coon, CEO: "Our business has experienced considerable growth...This additional capital will help us continue our momentum..."
Bill Gallagher, President: "At CFGMS, we believe our unique platform is differentiated from other funders across the space. We are pleased that institutional investors share this view and continue to support us."
Additional Information
Brean Capital, LLC served as the exclusive financial advisor and placement agent for the transaction.
The following is the full Press Release:
NEW YORK, NY. March 6, 2024 – CFG Merchant Solutions, LLC (“CFGMS” or the “Company”), a technology-enabled specialty finance and alternative funding provider, announced the upsize to $30.0 million of its investment-grade corporate note. The transaction was assigned a BBB rating by a nationally recognized statistical ratings organization.
Since its founding in 2015, CFGMS has a proven track record of asset performance and profitability, and has funded more than $1.3 billion to over 31,000 small and medium-sized businesses (SMBs) across diverse industries throughout the U.S. The Company plans to use the proceeds from the issuance to support continued growth of the business.
Our business has experienced considerable growth as banks and other funders have pulled back on credit over the past year,” said Andrew Coon, Chief Executive Officer of CFGMS. "This additional capital will help us continue our momentum in serving SMBs across the U.S."
Bill Gallagher, President of CFGMS, added, “At CFGMS, we believe our unique platform is differentiated from other funders across the space. We are pleased that institutional investors share this view and continue to support us. This flexible capital will be very valuable as we seek to gain further market share.”
Brean Capital, LLC served as the Company’s exclusive financial advisor and sole placement agent in connection with the transaction.
About CFG Merchant Solutions
CFG Merchant Solutions (“CFGMS”) is an independent, technology-enabled alternative funding platform focused on providing capital access to small and mid-sized businesses that have historically been underserved by traditional financial institutions and may have experienced challenges obtaining timely financing. The Company utilizes its historical transactional data, proprietary underwriting, predictive analytics, and electronic payment technologies and platforms to assess risk and provide access to flexible and timely capital.
For additional information about the Company, visit: https://cfgmerchantsolutions.com/.
Contact:
Name: Richard Polgar
Title: Chief Financial Officer