Presna

The board of Illinois Bankers Business Services, the for-profit division of the Illinois Bankers Association has approved Liquid Capital Corp., and their Bank Alliance Program, as a preferred vendor.

Established in 1999, Liquid Capital Corp. is a direct funding source that provides strategic alternative financing solutions for business to business companies. They address issues such as constrained cash flow, supplier payments and asset-based lines of credit. They have administrative offices in Toronto and Montreal, Canada as well as Irving and Austin, Texas and a network of 45 sales offices spanning North America. To date, Liquid Capital has deployed over $3 billion in financing transactions.

As an expansion of Liquid Capital’s experience in working with banks, they have developed the Bank Alliance Program. Recognizing the need for banks to compete and present a more broad-based approach in addressing the financing needs of prospective and current customers, the Bank Alliance Program provides a proactive offering of alternative financing options when traditional lending is not available or is limited. The structure of the program is developed in collaboration with the bank based on their needs and preferences as an enhancement to their business and strategic plans. The goal is to provide the bank the opportunity to increase their customer acquisition and retain the business and loyalty of current customers.

In achieving preferred vendor status, Tom Stamborski, the program’s developer and manager said; “Liquid Capital is honored to be approved as a preferred vendor and excited to play a part in the continuing history of the IBA in its delivery of products and services to its members. The IBA is seen as a lead innovator among state banker associations and we look forward to complimenting their efforts by delivering to their member banks financing products and support that will contribute to their growth and success”.

For more information, contact:

Tom Stamborski – Program Manager – Liquid Capital/Bank Alliance Program
847-842-3300 – tstamborski@liquidcapitalcorp.com

Callen Stapleton – President, Illinois Bankers Business Services
217-789-9340 – cstapleton@illinois.bank.com

Toronto, Ontario (October 2019) – Next Edge Capital Corp. (“Next Edge Capital”) is pleased to announce the closing of a revolving credit facility for $47,500,000 USD with CIBC Bank USA¹ and NELI Canada LP², a special purpose funding vehicle utilized by the Next Edge Private Debt Fund (the “Fund”).

Next Edge Capital is an alternative investment management firm focused on finding value-added investment opportunities with a focus on private lending. Through the Next Edge Private Debt Fund, it has focused on providing lending capital to small and medium-sized business throughout North America, focused on factoring, asset-based lending and specialty finance loans with a client base represented in 7 Provinces and 32 States.

A challenge when managing a fund that provides lending capital is to manage cash by matching investor inflows to loan investment outflows. This involves planning for funding new loans still going through diligence anticipated to close and funding existing loans requiring additional draws while taking into account inflows such as unitholder purchases, and collections from interest and loan repayments. A significant benefit of this revolving lending facility will be to allow for a reduction in unutilized cash, in addition to increasing the efficiency of the Fund and the collective businesses that it works with.

The Next Edge Capital team and the Fund work very closely with the Garrington Group of Companies (“Garrington”). The Fund is a primary funding source to Garrington’s broad origination network; Liquid Capital, Blacksail Capital Partners Canada, Blacksail Capital Partners USA and IconiQ Finance. In addition, the Fund and each of these Garrington divisions utilize the services of LINE Financial to aid in underwriting, account management, administration, processing and monitoring of these transactions. The close symbiotic relationship between these various parties has allowed for significant growth over the years.

“We are delighted with the relationship with CIBC, they have truly been a great team to work with. The credit facility will aid in funding new loan opportunities and the operating efficiency of the overall collective businesses involved. We look forward to a collective, long-term rewarding partnership with CIBC for years to come,” mentioned Toreigh Stuart, CEO of Next Edge Capital.

“It’s always an honor and a pleasure to work with high caliber professionals like the team at Next Edge Capital, CIBC and our affiliates through the Garrington Group of Companies. We look forward to continuing to bring our best in class service and expertise to further strengthen and deepen this trusted relationship,” says Brian Center, President and CEO of LINE Financial Services Inc.

For more information, please contact Robert Thompson-So, Executive Vice-President and Chief Strategy Officer of LINE Financial Services at (416) 342-8292 or via email at rts@linefinancialservices.com; or  Toreigh Stuart, CEO of Next Edge Capital at (416) 775-3636 or via email at toreigh.stuart@nextedgecapital.com.

¹ As Administrative Agent and Sole Lead Arranger.

² 100% of NELI Canada LP’s partnership equity capital is owned and provided by the Fund.

About Next Edge Capital

Next Edge Capital Corp. is an alternative investment fund manager and a leader in the structuring and distribution of Alternative and Private Credit fund products in Canada. Formerly a wholly owned subsidiary of Man Group plc., the firm is led by a management team responsible for raising over $3 billion of alternative assets since 2000. Next Edge specializes and focuses on providing unique, non-correlated pooled investment vehicles to the Canadian retail marketplace.

Further information can be found at www.nextedgecapital.com.

About Garrington Group of Companies

Garrington Group of Companies was established in January 2019 as part of a greater blueprint to develop a leading North American loan origination, underwriting and operations platform; handling Asset Based Lending, Factoring, and Specialty Finance loans ranging from $1 million to $30 million. Garrington’s creation comes from its acquisition of Liquid Capital at the beginning of 2019.

Garrington’s collective vision is to become the premier alternative SME lender in North America, supporting entrepreneurial companies with creative and optimal lending solutions, while providing a source of capital to support SME business development in North America.

Garrington recognizes the under-served market for small businesses attempting to secure working capital from traditional funding sources, based on the ever-increasing banking regulations governing the lending of money to smaller private and public companies. In addition, Garrington has identified, and is looking to capitalize from, the shift by alternative lenders away from smaller funding needs. Understanding the landscape of commercial financing in North America, Garrington has set in motion a plan to create a niche market to fund smaller borrowers on a large scale by adding further resources to its already large origination platform, in an attempt to reach borrowers right across North America.

Further information can be found at www.garringtongroupco.com.

About Blacksail Capital Partners (Canada & USA)

Rebranded to Blacksail Capital Partners from Next Edge Commercial Finance (In North East USA and Canada) in September 2019 to better reflect the change in ownership and becoming a member of the Garrington Group of Companies, Blacksail was established to complement Liquid Capital’s factoring business to focus on Asset Based Loans ranging from $1 million to $30 million.

Blacksail focuses its expertise on providing working capital solutions to the underserved small to the mid-sized middle market sector in North America. Serving many industries including; manufacturing, transportation and logistics, staffing, digital media and consumer goods, amongst others, the company strives to provide quick access to capital, which would typically be more flexible than banks.

Further information can be found at www.blacksailcapitalpartners.com.

About IconiQ Finance

IconiQ believes entrepreneurship is the lifeblood of the American economy, and it exists to empower entrepreneurs. In other words, the company is expert at breaking through the unique barriers to sustainable growth emerging companies face. Operating out of Austin, TX IconiQ provides revolving lines of credit and equipment term loans from $500,000 to $30 million lending on eligible accounts receivable, inventory and other tangible assets.

Further information can be found at www.iconiqfinance.com.

About LINE Financial

In 2019, as a part of a corporate restructuring and streamlining, LINE Financial was spun out of Liquid Capital with the sole purpose of providing third party due diligence, portfolio management and back-office services to the Liquid Capital system amongst others. The company strives to be the premier provider of comprehensive commercial finance infrastructure for entrepreneurial and visionary factoring and asset-based lending companies by creating, implementing and fostering premier commercial finance disciplines and processes with and for its clients.

The LINE Financial operations support loan origination teams with:

• Underwriting & Due Diligence
• Client Asset Management through a risk management team
• Collection & Verification
• Collection & Litigation
• Relationship Management
• Treasury Management

Further information can be found at www.linefinancialservices.com.

About Liquid Capital

Liquid Capital Corp. is a full-service working capital and trade finance network and has been in operations since 1999. The Liquid Capital network has the largest geographic footprint of alternative funding professionals, with approximately 45 independently owned businesses across North America, offering clients a customized and flexible approach with local decision makers. Liquid Capital offers a complete range of solutions for all industries and provide immediate financing upon approval with no long-term contracts or hidden fees.

Further information can be found at www.liquidcapitalcorp.com.

TORONTO, ON – When Brian Birnbaum, Sol Roter and Barnett Gordon first came up with the idea for Liquid Capital nearly 20 years ago, the concept was relatively simple: to help small, medium and emerging mid-market businesses fund their growth objectives by connecting them with a network of local, like-minded funding sources. Their respective backgrounds in alternative financing and accounting let them see a need for local, engaged and invested lenders backed by a national network.

To make this vision a reality, the trio determined its mission would be two-fold: To deliver the best factoring and alternative finance solutions on the market and to create a robust franchise network through which to offer them. Today, Liquid Capital is the only franchise in the world to offer factoring and asset-based lending.

From the beginning, Brian Birnbaum acted as president of Liquid Capital’s two franchise companies: Liquid Capital of Canada Corp. and Liquid Capital of American Corp. Thanks to his leadership, the organization has grown to include almost 100 franchises —and has won more awards than any other B2B franchise, including the 6 consecutive awards of the Bond Top 100 Franchise, the Canada Franchise Choice Award for 7 years running, and they are the only company to receive the prestigious World Class Franchise Award for 12 consecutive years.

In the wake of these tremendous achievements—and having met his original mandate—Brian believes now is the ideal time to use his extensive experience as a springboard to pursue new opportunities.

“My experience with Liquid Capital has been exceptional. I’m deeply grateful for the long-term relationships I’ve built over the last 20 years—with my co-founders, our staff and our entire franchise network,” he says. “At the same time, I’m really excited to move forward to the next stage of my career, where I plan to leverage the extensive expertise I’ve gained in the franchise business.”

While the news is understandably bittersweet, Sol Roter, President of Liquid Capital, says the organization is well-positioned to weather the change—thanks in large part to Brian’s integral contributions.

“Brian has been a driving force in Liquid Capital’s success over the last two decades,” says Sol. “We are all incredibly impressed with his achievements and grateful for the impact he’s had on Liquid Capital. We look forward to seeing what the future has in store for him—and for the organization he helped found.”

About Liquid Capital

Liquid Capital is a full-service working capital and trade finance network and has been in operations since 1999. The Liquid Capital network has the largest geographic footprint of alternative funding professionals, with over 80 independently-owned businesses across North America, offering clients a customized and flexible approach with local decision makers. We offer a complete range of solutions for all industries and provide immediate financing upon approval with no long-term contracts or hidden fees. At Liquid Capital, we help you grow your business.