Houston, TX (PRWEB) July 12, 2011
Briar Capital, the asset-based lender which has provided working capital, equipment and real estate finance to small and mid-market companies since 2003, has merged operations with McCabe Capital Partners of Phoenix, Arizona.
With personnel in Houston, Dallas, Phoenix and southern California, Briar Capital will operate as the only asset-based lending company focused exclusively on the country’s top growth markets in Texas, California, Arizona, Louisiana, Oklahoma and Arkansas, according to the company’s Chairman and Chief Executive Officer Frank Goldberg.
The McCabe Capital team includes many of the professionals who contributed to the success of First Community Financial, a Phoenix-based, multi-state finance company.
Tim McCabe, who co-founded McCabe Capital Partners with John Kerkhoff in 2009, has been named Briar Capital’s President and Chief Operating Officer. McCabe also serves on Briar Capital’s Board. Kerkhoff serves as a Business Development Officer for Briar Capital in Phoenix.
James Adamany, founder and former president of First Community Financial, also has joined Briar Capital’s board, a position he held with McCabe Capital.
Another member of the McCabe Capital team, Ken Sokol, will serve as a Business Development Officer for Briar Capital in southern California.
“The merger with McCabe Capital instantly provides a team of highly qualified professionals with experience in asset-based lending in southern California, Phoenix and Texas,” says Goldberg. “They extend Briar Capital’s reach into markets which have historically been among the fastest growing in the country.”
Besides expanding its geographic scope, Briar Capital has expanded its lending focus by offering financing for small and medium-sized businesses starting at $250,000.
Founded in 2003, Briar Capital is a privately funded asset-based lender which provides working capital for companies unable to meet more stringent lending requirements of commercial banks. The company opened its Dallas office in 2009.
For more information, go to http://www.briarcapital.com.