SnapCap announces new credit facility
February 21, 2017
Snap Capital LLC, a leading source of alternative funding to small business, announced that it has secured a significant revolving-to-term credit facility with Old Hill Partners. The proceeds will be used by Snap Capital to increase its ability to service small businesses who need short-term financing. Rosenblatt Securities served as advisor in the transaction.
Hunter Stunzi, President and Co-Founder of SnapCap, commented, “We are delighted to partner with Old Hill. This facility will help us expand our current borrower base and reinvest in our core businesses, which distinguishes us from others in the industry. Old Hill’s depth of experience will be of great benefit to us as we target significant business growth in 2017 and beyond.”
Peter Faigl, Portfolio Manager at Old Hill Partners, said, “We are pleased to support the growth of SnapCap. Based on our more than 10-year experience in lending to this sector, we view SnapCap’s operating model as one of the most efficient ones in the industry and, as such, believe they are well positioned for future success.”
About SnapCap
Based in Charleston, South Carolina, SnapCap is a web-based company that is helping lead a revolution in small business finance by reducing the complexities found in the traditional lending process. Committed to investing in small business, SnapCap offers a better way to borrow by focusing on performance-based financing, which evaluates the health of a business. Personal service combined with real-time evaluation technology makes it easier to provide financing solutions with greater speed and accuracy. Please visit www.snapcap.com.
