BriteCap Financial – a data-driven financial services company focused on improving the economic health of America’s small businesses – announced today the establishment of a new receivable financing facility from funds managed by One William Street Capital Management affiliates (OWS Funds). This facility will support a notable increase in BriteCap’s capabilities by providing up to $150M over a three-year revolving period.
Since 2003, BriteCap has been combining technology and non-traditional credit algorithms to provide fast, convenient and affordable working capital direct to businesses or through their broker network.
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“We recognize the dedication and perseverance it takes to build a thriving enterprise,” Kaza states. “With traditional banks often falling short, BriteCap is stepping up to provide greater access to capital for underserved small businesses. The newly launched facility is designed to empower entrepreneurs and fuel their growth.”
- BriteCap CEO Sri Kaza
“We are excited to partner with BriteCap. And to provide this financing solution that enables BriteCap to effectively deliver funding to small businesses and better positions it to navigate the current market environment.”
- Alex Saporito, Portfolio Manager at OWS
“As long-term capital providers to BriteCap, we are pleased to have the support of One William Street. This new credit facility provides BriteCap the capital to scale and grow with more attractive terms and repayment options for A-credit businesses. The team at North Mill is committed to advancing BriteCap and to supporting the financial needs of small businesses.”
• ⁃ David C. Lee, Chairman and CEO, North Mill Equipment Finance
