Bizcap closes $175 million credit facility for North American expansion
The financing adds lending capacity for the U.S. and Canada, according to the transaction’s adviser.
Key Takeaways
- •An unnamed U.S. institutional credit manager provided the facility, Brean Capital said.
- •Brean served as exclusive financial adviser and sole placement agent.
- •The facility is intended to support originations and product expansion in the U.S. and Canada.
Bizcap has closed a $175 million credit facility intended to support its North American small-business financing operations, according to Brean Capital, which advised the company on the transaction.
The facility was arranged with a U.S. institutional credit manager that the Oct. 29 announcement did not name. Brean said it served as exclusive financial adviser and sole placement agent.
The announcement, issued with a Miami dateline, says the financing will provide additional capacity for originations and product expansion in the United States and Canada. The facility adds lending capacity rather than representing loans already made to businesses.
Bizcap, founded in Australia in 2019, provides funding to small and medium-sized businesses. Brean said the company has expanded internationally and has provided more than $5 billion in funding to over 100,000 businesses worldwide. Those totals are companywide, not figures for South Florida.
Brean said Bizcap is also investing in proprietary artificial intelligence, machine learning and operational infrastructure. The company says those investments are intended to improve credit decisions and the speed of funding as it expands. The announcement did not disclose the facility’s interest rate or other terms.
