Pearl Capital Business Funding, a provider of direct financing to small and midsize businesses, has closed on a USD20 million financing from Arena Investors, a New York-based global investment firm.
"With the support of our outstanding financial partners we can continue to expand our mission of supplying funding to any small business with the desire for capital and ability to thrive," says Solomon Lax, Chief Executive Officer, Pearl Capital Business Funding. "We understand that despite personal credit issues, many small business owners have triumphed in building successful businesses. Locked out of the traditional bank financing channels, those small business owners turn to Pearl Capital Business Funding to enable their dreams. By partnering with Arena, we are able to make those dreams a reality."
Axxcess Capital Partners acted as sole placement agent for the transaction. CEO of Axxcess, Eli Spiro says: "We were pleased to assist the talented Pearl team with this transaction and have a high degree of confidence in their ability to continue offering stellar financing products to their broad customer base. Arena will enhance their financing capabilities even further."
