Capital Business Credit Positions to Expand in Core Markets
Sale of non-core division to provide additional resources.
New York (PRWEB) February 10, 2009 -- The sale of Capital TempFunds to Wells Fargo & Company, announced yesterday, positions Capital Business Credit LLC to concentrate on significant market opportunities in its core factoring business. On the completion of the sale, Capital Business Credit will have substantial equity and lines of credit to respond to increasing demand for its funding services to assist businesses in this very difficult financing climate.
“We’ve chosen to redeploy our resources to focus on our primary business,” said Andrew Tananbaum, President and CEO of Capital Business Credit. “There are lending opportunities for Capital Business Credit within our core markets and it is important that we have surplus capital to meet the needs of our clients.”
Capital Business Credit (www.capitalbusinesscredit.com) is a world-class commercial finance firm that delivers personal service to companies with annual revenues ranging from $1 million to $500 million. Lending primarily to those in the apparel, furniture, footwear, jewelry, electronics, and houseware industries, the company is a viable and often preferred alternative to bank financing and large non-bank factors. Areas of specialization include asset-based lending, factoring, credit protection, accounts receivable collection services, and supply chain finance.
Capital Business Credit LLC is headquartered in New York, with regional offices in Los Angeles, Fort Lauderdale, Charlotte, and Hong Kong. Lazard is acting as sole financial adviser to Capital Business Credit LLC in this transaction.
To learn more, call (212) 887-7905 or visit www.capitalbusinesscredit.com.
Media Contact:
Deborah Straus
Ambit Public Relations and Advertising
954-568-2100 x 106
deborah(at)ambitmarketing.com
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