Lendified Holdings Inc. And Liquid Capital Corporation Announce $20 Million Credit Facility To Support Growth Of Its Small Business Lending Activities In Canada

/en /por

TORONTO, Aug. 16, 2016 /PRNewswire/ – Lendified Holdings Inc. («Lendified»), a Canadian-based lending technology company offering working capital and related financial services products to the small business community, is pleased to announce that it has entered into an agreement with Liquid Capital Corporation («Liquid Capital«), a company specializing in providing working capital, asset based lending and trade finance solutions. Liquid Capital will provide the senior debt for a new credit facility, initially in an amount of up to $20 million, for working capital loans underwritten by Lendified.  At the same time, Lendified announces it has closed a further $4 million in mezzanine financing through a private placement bringing the total funding lines to $24 million. Lendified is now poised for significant growth across a number of targeted markets for its products.

Launched in early 2015, Lendified provides small businesses access to working capital from $5,000 to $150,000 for terms of up to two years. In early 2016 Lendified purchased Mentio Technologies Inc., adding additional data and analytics capabilities to its technologically-advanced credit adjudication model. Lendified today provides small businesses with advanced tools for managing their cash flow in addition to providing prospective borrowers a frictionless experience in applying for and receiving working capital. Lendified’s wholly-owned subsidiary, Lendified Technologies Inc. provides third party financial services firms including banks, credit unions and other firms dealing with small businesses with a «software-as-a-service» tool that enhances the risk review process of small businesses applying multi source data analytics with advanced algorithms which provide a best in class view of the current and future performance of small businesses.

«We are pleased to have formed a funding partnership with Lendified,» said Sol Roter, President and co-founder of Liquid Capital. «Lendified exemplifies today’s merger of lending skillsets, quality management and technology within the «Fintech» world of financial services. Lendified’s advanced methodologies around credit analysis, while leveraging technological access to information is very, very impressive. It is our plan that this partnership will bring opportunities for efficiency and referral across our respective platforms as well. This transaction represents an important addition to the Liquid Capital portfolio and provides an outstanding opportunity to showcase Liquid Capital’s increasing commitment and interest in technology-driven financial services.»

Liquid Capital entered into a joint venture with Next Edge Capital Corp. («Next Edge») in 2015 to co-fund investments in accounts receivable, trade finance, and asset based lending transactions sourced by and through Liquid Capital’s Principal distribution channel and financed via the Next Edge Private Debt Fund (the «Next Edge Fund»).  The Next Edge Fund has now grown to approximately $50MM and will continue to grow as Liquid Capital continues to source quality transactions through its network of originators in Canada and the United States.

Co-founders of Lendified, Troy Wright and Kevin Clark are very pleased with the arrangements that have been put in place. «Lendified now has the capital it needs to grow the lending component of the company’s strategy,» says Troy Wright, CEO. «This financing marks the next step in the company’s strategy of moving the loan book to a position of strength and sustainment. The benefits of working with Liquid Capital on not only this financing but with a number of potential synergies for both parties makes this financing that much more appealing.» Kevin Clark, Lendified’s President notes the alignment with a number of companies within the financial services world under the umbrella of Next Edge makes this opportunity very strategic and presents a number of tremendous opportunities in the future for broader business development within the financial services world in Canada and beyond.

About Lendified:

Founded in early 2015, Lendified Holdings Inc. and its subsidiaries are engaged providing in a number of financial services products and related services within the small business eco-system through www.lendified.com and for offering a Software as a Service subscription model of their credit risk adjudication platform www.lendifiedplatform.com , used by third party financial services firms in the assessment of small business risk.

For more information, visit www.lendified.com

About Liquid Capital:

Since 1999, Liquid Capital Corporation has been operating in the factoring and trade finance business. Over that period of time, the company has processed well over $2 billion in accounts receivables and trade finance transactions through both its Canadian headquarters in Toronto and US headquarters in Dallas. The company also has a master franchise relationship inMexico. Through its 80+ franchised office network, the company locally originates, manages, and funds accounts receivables, asset based lending and trade finance transactions.  Further information can be found at www.liquidcapitalcorp.com.

About Next Edge Capital:

Next Edge was formed through a management spin out of the Canadian office of Man Investments Canada Corp. in 2014.

Next Edge searches the world for investment managers and strategies that aim to deliver robust risk-adjusted performance. The yields available today from traditional fixed income investments are at all-time lows. One area where there are still opportunities for significant yield generation with security is Private Lending. Next Edge’s first two offerings in this space – the Next Edge Private Debt Fund and the VPC Specialty Lending Trust seek to capitalize on this opportunity. For more than a decade, the Next Edge management team has provided access to unique strategies before they have become widely known. Further information can be found at www.nextedgecapital.com.

SOURCE Lendified Inc.

New Tampa Bay Area Entrepreneur Launches Company to Support Small Business Growth

/en /por

TAMPA BAY, Fl. (August 9, 2016) – Mark Coyle announced the opening of his Bay Area Liquid Capital business, which offers alternative commercial funding for small and medium-sized businesses in the Bay Area. For smaller startup businesses in dramatic growth phases, and more established companies that may have had a trigger event like the need for manufacturing and equipment upgrades, the lending products from Bay Area Liquid Capital can be a saving grace.

“I connect with other entrepreneurs and business savvy individuals who need a partner. I don’t directly look for customers that are having cash flow issues, but as the need for working capital arises, the products available can help get clients through the next level of their business.”

With over 15 years experience in sales and 8 years in consumer packaged goods, Mr. Coyle understands the challenges faced by business owners. In addition, Mr. Coyle sees the Bay Area business network as a significant strength and benefit for his clients.

“As a member of the Greater Tampa Chamber of Commerce, the Manatee Chamber of Commerce, Commercial Finance Association, as well as groups like the Association for Corporate Growth, I’ve been widely connected to the great financial professional network. There’s a great crossover with membership, including commercial bankers, business consultants and CPAs who I can work with to help my clients find solutions to meet their cash flow requirements,” Mr. Coyle states.

Making the connections between the financial sector and business owners offers Mr. Coyle’s clients an advantage not possible with other alternative lenders.

«My referral partners have a high level of confidence dealing with me because I have my personal capital invested in the financing, which creates a more client-focused relationship. My clients aren’t underwritten, funded and then passed off. I work directly with each of my clients throughout the entirety of the relationship.»

“I strive to work with my partners and clients face-to-face. That’s an important part to know you’re dealing with someone who truly cares about your business success. Making connections with other entrepreneurs is valuable because we’re in it together and understand each other’s challenges. It really drives me to want to help them.”

This differentiates Mr. Coyle and his Bay Area Liquid Capital business from other competitors who may not have the same passion for mutual success. Growing his business in the Bay Area, Mr. Coyle also shows his appreciation for his community.

“Part of my personal belief is being socially responsible and giving back to the community. We have a large military base here and a large surplus of military men and women coming out of the service. As my company grows, I want to be able to offer those people a position within my company.”

About Liquid Capital

Liquid Capital is a full-service working capital and trade finance network and has been in operations since 1998. 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.

To learn more about Bay Area Liquid Capital, please contact
Mark Coyle
Bay Area Liquid Capital
Saint Petersburg, FL 33702
Call: 727.329.6030
Mobile: 813.766.6790
mcoyle@liquidcapitalcorp.com

Southern Alberta’s Liquid Capital Corporate Solutions’ Innovative Approach, Helps Small To Medium Size Businesses Grow

/en /por

COALDALE, AB (June 22, 2016) – Business owner Jim Craven today announced the opening of Liquid Capital Corporate Solutions in Coaldale, Alberta, near Lethbridge. The firm offers Southern Alberta business owners alternative financing services when they are unable to access traditional bank loans — a common issue facing many Alberta businesses.

“Every business, whether in early stages or in growth periods, needs a helping hand when access to cash flow is road-blocked by large, financial institutions. That’s where support from Liquid Capital can make a dramatic difference for small and medium-sized businesses in the area,” Mr. Craven said.

“Many entrepreneurs have been turned down by the banks and don’t know where to turn. We have solutions for them,” Mr. Craven explained. “When prospective clients discover that we are here to help and that they have reasonably priced funding options available to grow their business, they feel relieved,” he said.

Mr. Craven, who attended the University of Lethbridge, has been working in the area for many years and has deep roots in the community.

“I think that’s the difference with Liquid Capital – you’re not dealing with a faceless organization. You’re dealing with someone in your community who understands how to help build your business. We are part of the Southern Alberta business community and our number one goal is to help companies grow and thrive,” Mr. Craven said.

BNN Interview – Factoring: An Alternative To The Banks

/en /por

Factoring is popular in the U.S. and overseas, but it’s not widely known in Canada. However, Robert Thompson-So, Vice-President, Chief Strategy Officer at Liquid Capital Corporation says «as banks continue to retrench from small and mid-sized markets,» factoring is a funding option that has a lot of growth potential in Canada, where Liquid Capital has more than 200 clients. He outlines how factoring works and how it can help companies meet their financing and operating needs.

Victoria-Based Liquid Capital West Coast Offers New Alternative Financing Solutions For Small & Medium Businesses

/en /por

VICTORIA, B.C. (June 8, 2016) – Liquid Capital West Coast Financingpartners Rebekah Hutchison and Stephen Ison announced today that their firm is open for business and specializes in helping entrepreneurs, and small and medium-size businesses to find alternative financing solutions when traditional bank loans aren’t available.

“The problem is common for many businesses, including start-ups, small businesses in the growth phase, or for established companies with temporary cash flow issues,” Mr. Ison said. “We help provide our clients with much-needed funding so they can continue to grow their businesses.”

Ms. Hutchison and Mr. Ison help solve their clients’ cash-flow needs by providing working capital and trade finance solutions when banks won’t offer companies loans or credit.

Mr. Ison and Ms. Hutchison, bring considerable experience and expertise to Liquid Capital West Coast Financing.  Mr. Ison worked as a broker and financial advisor previously, and was a senior executive at investment company Edward Jones where he was responsible for the firm’s Western region of Canada. Ms. Hutchison’s experience includes B2B communications, marketing, design and management and has advised clients across many sectors, including the health and wellness and real estate industries.

“If we help a business owner expand their operations so that they can hire more employees, then every quarter when the national job creation report is released, we can say we did a little bit to help,” Ms. Hutchison said. “This work is exactly what we hoped it would be. It couldn’t be a better partnership to help grow local businesses in British Columbia,” she added.

About Liquid Capital

Liquid Capital is a Canadian-based, full-service working capital and trade finance network and has been in operations since 1998. 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 West Coast Financing, we help you grow your business.

To learn more about Liquid Capital West Coast Financing Corp., please contact:

Rebekah Hutchinson or Stephen Ison

PO Box 39051 RPO James Bay

Victoria, BC V8V 4X8

Office: 778-265-7990

rhutchinson@liquidcapitalcorp.com

sison@liquidcapitalcorp.com

www.lcwestcoastfinancing.com

Flexiti Financial And Liquid Capital Announce Credit Facility To Support Growth Of Its Consumer Finance Business In Canada

/en /por

Flexiti Financial (formerly Wellspring Financial) and Liquid Capital Announce Credit Facility to Support Growth of its Consumer Finance Business in Canada

Flexiti Financial («Flexiti»), a Canadian fintech company offering point -of-sale consumer financing, is pleased to announce that it has entered into an agreement with Liquid Capital Corporation («Liquid Capital»), a company specializing in providing working capital, asset based lending and trade finance solutions.  Under the agreement, Liquid Capital will provide the senior debt for a new credit facility, initially in an amount of up to $25 million, for consumer receivables generated by Flexiti Financial. The facility will be used to finance the warehousing of receivables originated by Flexiti pending their securitization.

Launched in 2014, Flexiti Financial provides retailers, home improvement contractors and healthcare practitioners the ability to offer their customers the option to pay for big-ticket purchases of goods or services either in equal payments or at a later date, making those purchases more affordable to the consumer. Flexiti has built an award-winning technology platform, providing customers with a virtual credit card in minutes, and making the application and approval process quick and easy.  Having completed an equity financing of over $5 million in 2014 and a further $4MM in subordinate debt financings in 2015, Flexiti has just secured an additional $2MM in operating capital and will shortly be undertaking an equity raise to support its growing consumer finance business. This new capital, along with its receivables warehousing facility, will position Flexiti to fund its continuing growth across all market segments, as well as a planned expansion into other products and services.

«We are pleased to have formed a funding partnership with Flexiti Financial,» said Sol Roter, President and co-founder of Liquid Capital. «Flexiti’s award-winning technology platform and merchant partnerships have tremendous potential for the origination of quality financial assets. This transaction represents an important addition to the Liquid Capital portfolio and provides an outstanding opportunity to showcase Liquid Capital’s increasing commitment to the asset based lending space.»

Liquid Capital entered into a joint venture with Next Edge Capital Corp. («Next Edge») in 2015 to co-fund investments in accounts receivable, trade finance, and Asset Based Lending transactions sourced by and through Liquid Capital’s Principal distribution channel and financed by the Next Edge Private Debt Fund (the «Next Edge Fund»).  The Next Edge Fund has now grown to approximately $40MM and will continue to grow as Liquid Capital continues to source quality transactions through its network of originators inCanada and the United States.

«Flexiti Financial is very pleased to announce the establishment of this new credit facility,» said Peter Kalen, Founder and CEO of Flexiti Financial. «We have been looking for a funding partner with access to capital on flexible terms to support our business growth and allow us to build our on-balance sheet asset pool for ultimate securitization purposes.  Liquid Capital, through its partnership with Next Edge, provides the strength and the vision we are looking for to move the business to the next level. With this new funding partnership in place, we are confident that our 100% paperless and instant credit card solution can continue to expand quickly inCanada, allowing our nearly 1,000 merchant partners the ability to grow their sales by making large purchases more affordable for their customers.»

INFOR Financial Inc. acted as the financial advisor to Flexiti Financial for this transaction and Raymond James Ltd. acted as the ‎financial advisor to both Liquid Capital and Next Edge.

Flexiti Financial is currently available in British Columbia, Alberta and Ontario, New Brunswick, Newfoundland and Nova Scotia.  If you are interested in offering Flexiti financing to your customers, please contact us at sales@flexitifinancial.com or call us at 1-855-559-0909.

About Flexiti Financial:

Flexiti Financial, formerly Wellspring Financial, is a Canadian fintech company in the POS consumer lending space, led by an experienced team of executives with extensive knowledge of the retail credit space in Canada, leveraging mobile technology to deliver the fastest application process available in the market.  It is the only fintech in the consumer lending space competing directly against large financial institutions by offering a retail private label credit card solution.  The technology platform was recognized as market leading, winning ACT (Advanced Card Technologies) Canada’s 2015 Technology Innovation Award for Payments Benefiting Consumers and the 2015 Silver Technology Innovation Award for Canadian Payments Benefiting Merchants.

For more information, visit www.flexitifinancial.com.

About Liquid Capital:

Since 1999, Liquid Capital Corporation has been operating in the factoring and trade finance business. Over that period of time, the company has processed well over $2 billion in accounts receivables and trade finance transactions through both its Canadian headquarters in Toronto and US headquarters in Dallas. The company also has a master franchise relationship in Mexico. Through its 80+ franchised office network, the company locally originates, manages, and funds accounts receivables, asset based lending and trade finance transactions.  Further information can be found at www.liquidcapitalcorp.com.

About Next Edge Capital:

Next Edge was formed through a management spin out of the Canadian office of Man Investments Canada Corp. in 2014. The management team opened the Canadian office of Man Group plc. («Man») in 2006 and has raised over CDN $1.0 billion since inception.

Next Edge searches the world for investment managers and strategies that aim to deliver robust risk-adjusted performance. The people and approaches we discover may not be well known in Canada, but we think they provide something remarkable – access to what’s next. The yields available today from traditional fixed income investments are at all-time lows. One area where there are still opportunities for significant yield generation with security is Private Debt. Next Edge’s first two offerings in this space – the Next Edge Private Debt Fund and the VPC Specialty Lending Trust seek to capitalize on this opportunity. Our clients appreciate seeing compelling new approaches, even though some are complex or are limited in capacity. For more than a decade, the Next Edge management team has provided access to unique strategies before they have become widely known. Further information can be found at www.nextedgecapital.com.

SOURCE: Flexiti Financial

For further information: Flexiti Financial: Peter Kalen, Chief Executive Officer, pkalen@flexitifinancial.com, (416) 583-1861; Liquid Capital: Sol Roter, Liquid Capital Corporation, sroter@liquidcapitalcorp.com, (416) 222-5599 ext. 8185

Liquid Capital Corporation Announces Purchase Of TCE Capital Corporation

/en /por

TORONTO, May 16, 2016 /CNW/ – Liquid Capital Corp. («Liquid Capital»), a Canadian-founded trade finance and asset-based lending company, is pleased to announce that it has entered into a purchase and sale agreement where it has acquired the assets and associated goodwill of TCE Capital Corporation («TCE Capital»), a boutique asset based lender based in Toronto, Canada.

Launched in 1992, TCE Capital was founded and has been managed by experienced entrepreneurs and has historically funded in excess of $400 million annually in asset-based loans and transaction volume, with a focus on transaction sizes ranging from $250,000up to $4 million.

«We are pleased to have completed the acquisition of certain of TCE Capital’s assets, while bringing the knowledge and expertise of TCE Capital’s senior management and risk team into Liquid Capital,» said Sol Roter, CEO and co-founder of Liquid Capital. «This transaction is part of the continued evolution of Liquid Capital’s trade finance and asset based  lending  solution  set.  Our  Principal  network  and  clients will benefit from our expanding product line, and our continued ability to be a creative and driving force in the industry.»

«From our first  meeting,  it  was  clear  that  Liquid  Capital  was  the  ideal  partner  to  move  our vision forward,» Gus Baril, President of TCE Capital, intones. «This timely transaction marks, in a positive way, the end of the beginning for all of us at TCE Capital. Our management, staff, clients and suppliers are in good hands as the significant  Liquid  Capital  Principal  network,  capable management, financial capability and international presence that is Liquid Capital bodes well for the next chapter.»

Liquid Capital entered into a joint venture with Next Edge Capital Corp. («Next Edge») in 2015 to co-fund investments in receivables sourced by and through Liquid Capital’s principal distribution channel, for investment by Next Edge’s Next Edge Private Debt Fund («The Next Edge Fund»).  The Next Edge Fund has grown to approximately $45 MM in assets and will continue to grow as Liquid sources quality receivable and asset based lending transaction volume through its network of originators in Canada and the United States.

About Liquid Capital:

Since 1999, Liquid Capital Corporation has been operating in the factoring and trade finance business. The  Company  has  processed  over  $2  billion  in  accounts  receivables  and  trade  finance  transactions through both its Canadian headquarters inToronto and US headquarters in Dallas. The Company, with 90 points of presence in  5  countries  and  on  4  continents,  locally  originates, manages, and funds accounts receivables, asset based lending  and  trade  finance  transactions.  Further information can be found at www.liquidcapitalcorp.com.

About TCE Capital:

TCE Capital has provided alternative funding across Canada since its inception in 1992 and has been a pioneer in developing financing products aimed at Canadian entrepreneurs. An emphasis on near bank lending and flexible financing has allowed Canadian business the resources to start, grow and expand for the last 24 years. For more information, please visit www.tcecapital.com

For further information: Liquid Capital Corp: Sol Roter, Liquid Capital Corporation, Chief Executive Officer, sroter@liquidcapitalcorp.com, (416) 222-5599 x 8185; Robert Thompson-So, Liquid Capital Corporation, Vice President, Chief Strategy Officer, rts@liquidcapitalcorp.com, 416-222-5599 x 8292; TCE Capital Corporation: Rick Coles, TCE Capital Corporation, Vice President and General Counsel, rcoles@tcecapital.com, 416-496-7060; Media Relations: Deborah Thompson, DT Communications, Deborah@dt-communications.ca, 416-918-9551