MIAMI BEACH, Fla., Feb. 18, 2022 /PRNewswire-PRWeb/ -- PIRS Capital, a leading fintech alternative lender specializing in Merchant Cash Advances, is announcing the hiring of a new Director of Business Development, an increase of its line of credit, and new funding limits. On the back of a record 2021 which saw new highs in top and bottom-line growth, PIRS and its lending partners increased their existing credit facility up to $35M with the expectation to grow this facility to $50 million in 2022.
PIRS Capital's financial strength will enable continued expansion and the ability to offer up to $1M in funding per business entity, without any change to the current rates and terms. "Our lending partners have been with us since the very beginning and are just as excited as we are about the future of PIRS Capital. Their recent increase and ongoing commitment to PIRS will allow us to continue to compete with all of the larger players in the space and continue to offer our Partners all the tools they need to close transactions and retain clients," stated Chief Operating Officer Andrew Mallinger.
Additionally, PIRS Capital is expanding their team and have hired industry veteran Salvatore Morreale as the Director of Business Development. "Sal brings experience and a wealth of industry knowledge to PIRS Capital and will allow us to continue to expand our Partner and ISO base within the financial services industry," said Mallinger. Salvatore is a more than 25-year leader in the financial services space and has helped with the creation and growth of multiple MCA companies that are still presently active in the market.
After another successful year, PIRS Capital is focused on deepening their partnerships and continuing to grow in a space that is seeing increased activity as Small Businesses begin to focus and invest back into the future of an open economy. "We're well positioned with our team and lending partners to continue to service SMBs across the country, and our ISO Partners are all very excited about everything new we are doing to help them continue servicing their customers," said Mallinger.
About PIRS Capital
PIRS Capital launched in 2013 with one objective in mind: to ensure client success when funding small businesses across the nation. Since then, PIRS has always strived to differentiate themselves for their customers and partners by making intelligent, personalized, tech-enabled business decisions that ensure mutual success. Learn more at https://pirscapital.com
Mitchell Robert, PIRS Capital, +1 8774954979, [email protected]
SOURCE PIRS Capital