DARIEN, Connecticut, March 30, 2021 (GLOBE NEWSWIRE) – Old Hill Partners has increased its committed credit facility to ByzFunder NY, a New York-based working capital solutions provider in the form of merchant cash advances, to 12 millions of dollars. The increase in commitments will further accelerate the growth of the business and allow it to expand to additional credit levels.
“We were very pleased with the quality of ByzFunder’s creations, the performance to date and the overall quality of their operations. We believe the company is well positioned for continued growth and we are delighted to be a part of it, ”said Peter Faigl, Senior Portfolio Manager at Old Hill.
“As our company builds on our existing partnership with Old Hill, this credit facility will strengthen ByzFunder’s position as an emerging leader in alternative financing for businesses. This facility gives our company additional flexibility to extend our balance sheet to full-service business owners. Old Hill is providing ByzFunder with the assistance needed to advance short and long term priorities for an anticipated period of significant innovation and growth, ”said Ilya Fridman, CEO of ByzFunder.
ByzFunder NY LLC is a leading non-bank finance company that has been successfully providing small and medium-sized businesses with fast and convenient financing alternatives since 2018. ByzFunder combines technology and non-traditional credit algorithms to deliver attractive pricing and exceptional customer service to a market not captured by traditional banks.
Old Hill Partners Inc. is an alternative asset manager focused on asset lending transactions with borrowers seeking financing of $ 10-50 million. The Company structures senior secured debt in the form of term facilities, drawdowns and revolving credit for up to four years and loan-to-value ratios between 35% and 85%. Types of collateral include pools of loans or leases (specialized financing), receivables, inventory, machinery and equipment.
Old Hill Partners Inc.
1120 Boston Post Road
Darien, Connecticut 06820
Telephone: 203 656 3004