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Merchant Growth Partners with goeasy to Provide Funding via Physical Branches
December 11, 2019
This month Merchant Growth, the Vancouver-based alternative finance company, announced its partnership with goeasy Ltd. that will see Merchant Growth’s services being offered in goeasy branches throughout Canada. Beginning with British Columbia, Alberta, and Saskatchewan in 2019, Merchant Growth aims to have expanded to the remaining provinces in the first quarter of 2020.
Under the partnership, goeasy will receive compensation from Merchant Growth for all loans made through them while Merchant Growth will provide the capital.
“goeasy is a unique Canadian success and they’ve done that by being disciplined managers, by putting their customers first, and by building a great reputation for themselves in the industry,” said David Gens, Merchant Growth’s President and CEO. “And what we see in them is an ideal partner in that they have the market reach in terms of brand recognition and locations around the country.”
It is the latter of these factors that make the deal stand out. Given the industry’s standard of digital applications, goeasy and Merchant Growth’s return to brick and mortar branches that offer live human managers, clerks, and even physical paper, marks a turn back towards more historical methods of doing business.
Gens commented on this, stating that “there’s something to be said for face-to-face interactions and for that reason I don’t think you’re ever going to go down to having no bank branches … Having a physical location where you can chat with people about your financial needs is something that will always exist as far as I can see.”
Merchant Advance Capital Rebrands to Merchant Growth
July 3, 2019
Merchant Advance Capital, which trumpets itself as Canada’s fastest and most transparent small business financier, is rebranding as Merchant Growth.
The company has offices in Vancouver, BC and Toronto, ON and was founded in 2009.
“I founded our company out of my apartment 10 years ago,” David Gens is quoted as saying in a company announcement. Gens is the company’s president & CEO. “Back then our mission was simply to provide credit to small businesses, and we did that by providing one product, called a ‘merchant advance’. Today, we offer a comprehensive suite of financing solutions delivered with unparalleled convenience. In doing so, our mission has expanded to allowing business owners to achieve unconstrained growth, while reducing the administrative stress of running a business. As we’ve transformed our focus from one credit product to this far-reaching mission, we felt the need for our name to reflect this. We are Merchant Growth.”
Gens has been an oft-quoted source in AltFinanceDaily over the years. His company closed on a $30 million debt facility last year with Comvest Credit Partners.
Gens is also speaking at AltFinanceDaily CONNECT Toronto on July 25, 2019. You can register to attend at www.debankedcanada.com.
Fundfi Merchant Funding Expands Senior Credit Facility to Accelerate Growth in Revenue-Based Financing
April 7, 2025NEW YORK, NY — April 7, 2025 — Fundfi Merchant Funding, a leading provider of revenue-based financing solutions for small and medium-sized businesses, today announced the successful expansion of its senior credit facility. This strategic financial move will enable Fundfi to increase its funding capacity and support more businesses across various industries.
The expanded credit facility strengthens Fundfi’s position in the alternative lending space and allows the company to meet the growing demand for flexible, revenue-based financing options among entrepreneurs and business owners seeking capital without diluting equity.
“This expanded credit facility marks a significant milestone in Fundfi’s journey and reflects the confidence our financial partners have in our business model and growth trajectory,” said Efraim Kandinov, CEO of FundFi Merchant Funding. “By increasing our lending capacity, we can help more businesses access the capital they need to innovate, expand, and thrive in today’s competitive marketplace. Our revenue-based financing approach continues to resonate with entrepreneurs who value flexibility and alignment with their business performance.”
The increased credit facility will enable Fundfi to extend its reach to underserved markets while enhancing its product offerings to meet diverse business needs.
“The expansion of our senior credit facility provides Fundfi with enhanced financial flexibility and improved terms that will directly benefit our clients,” said Natasha Dillon, CFO of FundFi Merchant Funding. “This achievement reflects our strong financial performance, robust underwriting standards, and the growing recognition of revenue- based financing as a viable alternative to traditional funding options. We’re excited to deploy this additional capital to support innovative businesses that drive economic growth and job creation.”
Fundfi’s revenue-based financing model allows businesses to repay their funding as a percentage of future revenues, creating an aligned incentive structure that adapts to business performance. This approach has proven particularly valuable for seasonal businesses and companies with irregular cash flow patterns.
About FundFi Merchant Funding
Fundfi Merchant Funding is a leading provider of revenue-based financing solutions, helping small and medium-sized businesses access growth capital without sacrificing equity or control. With a streamlined application process and flexible repayment terms, Fundfi has established itself as a trusted financial partner for entrepreneurs across various industries and across the United States and Canada. For more information, visit www.fundfimerchantfunding.com.
Fundfi Merchant Funding Expands Services to Canada, Paving the Way for Financial Growth and Innovation
July 11, 2024Fundfi Merchant Funding, a leading provider of innovative financial solutions in the United States, is excited to announce its expansion into the Canadian market. With a proven track record of empowering businesses to achieve their goals through strategic funding, Fundfi Canada Inc. is poised to bring its expertise and dedication to support Canadian enterprises.
The decision to expand into Canada comes at a time when businesses across North America are seeking reliable and flexible financial support to navigate economic landscapes and fuel growth opportunities.
By extending its services to Canadian businesses, Fundfi Canada Inc. aims to bridge the gap between financial needs and solutions, empowering entrepreneurs to thrive in today’s competitive market environment.
The expansion into Canada reflects Fundfi Merchant Funding’s ongoing commitment to innovation, growth, and client satisfaction. By leveraging its extensive experience and deep industry knowledge, Fundfi Canada Inc. aims to become a trusted partner for Canadian businesses seeking reliable and strategic financial support.
As Fundfi Merchant Funding embarks on this exciting new chapter, it invites Canadian businesses to explore the diverse range of financial solutions and opportunities available to them. Whether it’s funding for expansion, equipment upgrades, working capital, or other business needs, Fundfi Canada Inc. is dedicated to helping Canadian businesses thrive and succeed.
For more information about Fundfi Merchant Funding and its expansion into Canada, please visit www.FundfiMerchantFunding.com.
CFG Merchant Solutions Closes Credit Facility of up to $145 Million to Support Small Business Growth
May 29, 2024NEW YORK, NY. May 29, 2024 – CFG Merchant Solutions, LLC (“CFGMS” or the “Company”), a technology-enabled specialty finance and alternative funding provider, announced the successful completion of a $100.0 million senior credit facility. The credit facility is expandable up to an additional $45.0 million, representing a total capital raise of up to $145.0 million. Proceeds from the funding, secured from a prominent, U.S.-based institutional investor focused on private structured credit, will serve to further fuel the Company’s mission to empower and support the growth of small and medium-sized businesses (SMBs).
Since its founding in 2015, CFGMS has a proven track record of asset performance and profitability, and has funded more than $1.4 billion to over 33,000 SMBs across diverse industries throughout the U.S. With the infusion of additional capital, CFGMS will continue to focus on delivering flexible and accessible financing solutions that empower small businesses to seize growth opportunities, create jobs, and contribute to the overall economic prosperity of the communities they serve.
“We are thrilled to have secured this substantial capital raise, as it reaffirms our commitment to empowering small businesses,” said Andrew Coon, Chief Executive Officer of CFGMS. “We extend our heartfelt gratitude to our investors for their continued trust and support. With this new credit facility, we will be able to reach a wider range of small businesses and provide them with the financial resources they need to thrive.”
Bill Gallagher, President of CFGMS, expressed enthusiasm for the future impact of the capital raise, stating, “This new facility will strengthen our position to ensure our small business clients have access to fast and efficient financing solutions tailored to their unique needs. We are excited to leverage this capital to expand our operations and deepen our commitment to empower U.S. small businesses to succeed.”
Brean Capital, LLC served as the Company’s exclusive financial advisor and sole placement agent in connection with the transaction.
About CFG Merchant Solutions
CFG Merchant Solutions (“CFGMS”) is an independent, technology-enabled alternative funding platform focused on providing capital access to small and mid-sized businesses that have historically been undeserved by traditional financial institutions and may have experienced challenges obtaining timely financing. The Company uses its historical transactional data, proprietary underwriting, predictive analytics, and electronic payment technologies and platforms to assess risk, and provide access to flexible and timely capital.
For additional information about the Company, visit: https://cfgmerchantsolutions.com/.
Contact:
Name: Richard Polgar
Title: Chief Financial Officer
rpolgar@cfgms.com
Merchant Cash Advance Diminished by Growth of Payment Technologies
May 15, 2011
Technology will be the end of us all
When bank lending dried up, Merchant Cash Advance (MCA) providers fulfilled the need to keep America’s small business owners going strong. By withholding a percentage of each credit/debit card sale automatically, there was no need to worry about a client’s ability to make payments. Without the risk of late payers or non-payers, MCA providers singlehandedly eradicated credit score from the underwriting guidelines. Or so they thought.
Only a small percentage of businesses in default actually close their doors. Circumventing the MCA provider’s merchant processor or incentivizing customers to pay with cash are issues that have plagued the industry for years. While this would constitute a clear breach in the sale of one’s future receivables, it’s not always a deliberate act of malice. However, there is a direct correlation between the frequency of breaches and *surprise* declining credit score.
But in the instances without malice, such as if damaged POS equipment prevents the flow of processing, there’s not much a MCA provider can do other than help fix it. These gaps in collection affect the bottom line and lead to upward pressure on costs or tighter restrictions on approval, two outcomes that nobody wants.
And as if there already wasn’t a strain, changes in payment technology are quickly eroding the MCA industry’s turf. The credit/debit card sales of a business aren’t exactly limited to one of these:
Now there are options, lots of them. In today’s world you can accept electronic payments with almost anything, a conundrum for MCA providers aiming to collect a percentage of all of it. And how about those routine PCI compliance upgrades? There are countless businesses with a basement full of old credit card machines that could be plugged back in, put back into service, and freely used to circumvent their financial obligations.
Take this clothing retailer for example. She qualified for an advance of only $5,000 but when it came time to convert the merchant account, the process wasn’t so easy:
Nearly all of the transactions conducted inside the store happen through the touch screen POS. The merchant statements reflect consistent historical sales of nearly $4,800 per month, instilling the belief that the future won’t be much different. But when the customer lines get too long, there’s a backup credit card terminal that they pull out from under the counter that still has an active account with a previous processor. Around the holidays, they dig out the old Tranz model terminals from the basement and use them too. For street fairs and trade shows, they attach their Square to their iPhone and process on the go. And when it comes to their website and Ebay, PayPal is their preferred method of payment.
This doesn’t mean the touch screen POS won’t continue to see $4,800 worth of action per month, but the situation doesn’t inspire a lot of confidence if the goal is to collect a percentage of their credit/debit card sales. What if they occasionally use Square inside the store? What if phone orders are punched into PayPal? These things may happen inadvertently or simply because their customers demand it.
To firmly secure a purchase of future sales, the MCA provider would need to do the following:
- Convert the touch screen POS system (which will very likely come with a fee from the POS reseller)
- Reprogram their backup terminal
- Reprogram all the old terminals collecting dust in the basement
- Force the return of the Square and replace it with their own iPhone processing attachment
- Delete PayPal from the HTML of the business’s website
- Instruct them to stop conducting business on Ebay
- Cancel the PayPal account altogether and replace with an authorize.net virtual interface or something equivalent
That’s a lot of effort for $5,000 but doing anything less is a gamble. That’s another reason why MCAs are more expensive than bank loans. Without set fixed payments, they are extremely vulnerable to economic ups and downs and now the explosion of payment alternatives.
Rather than stay ahead, the industry is becoming more fractured as evident by the rise of new funding sources such as Kabbage, that lends against future PayPal sales. It’s innovative but vulnerable. Kabbage depends on the success and status quo of PayPal for survival, a characteristic that is not likely to carry them far. Similarly, MCA providers are dependent on withholding a percentage of future sales, an uneasy task in a world where the point of sale itself is changing.
Innovation in the MCA space has gone as far as automated bank debits and a lockbox. One depends on the merchant’s use of a single bank account and the other is equally exposed to the issues we’ve discussed.
Which of course begs the question: If electronic payments are becoming more elusive to capture, how can the MCA industry survive? The obvious answer is to transform the product itself into a loan. Secure it against collateral and have the credit bureaus at your disposal. Breaches will become far less likely and electronic payments less elusive when there are actual consequences involved. It’s a dreaded word and one MCA representatives have spent years avoiding, but according to the state of California, it’s probably a loan already anyway.
As MCA providers struggle to keep up with payment alternatives, banks are wondering when we’ll all wake up from the “it’s not a loan” euphoria. If the goal is to provide capital and get more back, reprogramming a terminal isn’t going to cut it. How many free hours can America Online offer to bring people back to their dialup internet service? Technology changed and the age of AOL ended. So too may the age of Merchant Cash Advance…. at least in its current form.
– The Merchant Cash Advance Resource
Fundfi Merchant Funding Expands Credit Facility for Second Time This Year, Supporting Record Numbers of Small Businesses
September 19, 2025Revenue-based financing leader continues aggressive growth trajectory as demand for alternative lending solutions surges
New York, NY – Fundfi Merchant Funding, a leading provider of revenue-based financing solutions, announced today the expansion of its credit facility for the second time in 2025, positioning the company to serve an unprecedented number of small and medium-sized businesses across North America. This latest facility increase reflects the company’s continued growth and commitment to supporting small business owners who are increasingly seeking alternatives to traditional lending channels.
The expansion comes at a time when Fundfi Merchant Funding is helping more businesses than ever before, with loan originations reaching new heights as small business owners turn to flexible financing solutions that align with their cash flow patterns rather than requiring fixed monthly payments.
“This second facility expansion in one year demonstrates our unwavering commitment to being there for entrepreneurs when they need capital most,” said Efraim Kandinov, CEO and co-founder. “We’re seeing incredible momentum in our market, and this expansion allows us to maintain our rapid response times while supporting the diverse financing needs of North American small businesses.”
The revenue-based financing model has gained significant traction among business owners who value the flexibility of repayments tied to their revenue performance. Unlike traditional loans, this approach allows businesses to pay more during strong months and less during slower periods, providing crucial breathing room for companies navigating seasonal fluctuations or market uncertainties.
Natasha Dillon, CFO and co-founder, emphasized the strategic timing of the expansion: “We are bullish on the growth of the small business footprint in North America and anticipating tighter lending from more traditional financing avenues. Fundfi is committed to being the reliable capital partner these businesses need to thrive. This facility expansion allows us to maintain our commitment to fast approvals and quick funding, ensuring small businesses can access capital when opportunities are presented.”
The credit facility expansion enables Fundfi Merchant Funding to:
- Accelerate funding timelines for approved businesses
- Support larger financing amounts for established companies
- Expand into new industry verticals and geographic markets
- Maintain competitive rates despite rising market interest rates
As traditional lenders face increasing regulatory pressures and risk management concerns, alternative lending providers like Fundfi Merchant Funding are filling a critical gap in the market. Small businesses, which represent the backbone of the North American economy, often struggle with the lengthy approval processes, extensive documentation requirements, and rigid repayment structures of conventional business loans.
With this second facility expansion in 2025, Fundfi Merchant Funding reinforces its position as a leading alternative to traditional small business lending, continuing to provide entrepreneurs with the flexible capital solutions they need to grow and thrive.
About Fundfi Merchant Funding:
Founded by Efraim Kandinov and Natasha Dillon, Fundfi Merchant Funding is a revenue-based financing company dedicated to providing flexible capital solutions to small and medium-sized businesses across United States and Canada. The company’s innovative approach aligns repayment schedules with business cash flow, offering small businesses an alternative to traditional bank loans. For more information, visit fundfimerchantfunding.com.
Media Contact:
Sasha Kandinov
Fundfi Merchant Funding
sasha@fundfimerchantfunding.com
Congressman Dan Meuser Visits CFG Merchant Solutions™ to Discuss Small Business Finance and Regulatory Trends
April 24, 2025
CFG Merchant Solutions™ (CFGMS™), a leading provider of revenue-based financing, was honored to welcome Congressman Dan Meuser (R-PA, 9th Congressional District) to its New York office for a discussion on the evolving landscape of small business finance and the importance of regulatory transparency.
During his visit, Congressman Meuser engaged with CFGMS leadership and staff to exchange insights on the current regulatory climate impacting small business funders. As a prominent member of the House Financial Services Committee—where he serves as Chair of the Subcommittee on Oversight and Investigations—and the House Small Business Committee, Rep. Meuser’s visit underscored his ongoing efforts to ensure small businesses have access to responsible, innovative funding solutions.
“CFGMS is committed to setting the highest standards of compliance, disclosure and transparency in our industry,” said Bill Gallagher, President at CFG Merchant Solutions. “We’re proud to work alongside policymakers like Congressman Meuser who understand the critical role small businesses play in our economy and who are advocating for smart, balanced regulation.”
Rep. Meuser has represented Pennsylvania’s 9th Congressional District since 2019. Prior to his election to Congress, he served as Pennsylvania’s Secretary of Revenue, where he was credited with making the department more efficient and customer focused. Earlier in his career, he was an executive at Pride Mobility Products, helping the company grow from $2 million to over $400 million in annual sales.
CFGMS continues to lead the industry in championing ethical, growth-driven funding practices for small businesses across the country. The company remains steadfast in its mission to expand access to capital while fostering transparency and accountability.
About CFG Merchant Solutions™
CFG Merchant Solutions™ (“CFGMS™”) is an independent, technology-enabled alternative funding platform focused on providing capital access to small and mid-sized businesses that have historically been underserved by traditional financial institutions and may have experienced challenges obtaining timely financing. CFGMS™ uses its historical transactional data, proprietary underwriting, predictive analytics, and electronic payment technologies and platforms to assess risk, and provide access to flexible and timely capital.
Media Contact:
Nick DeFeis
Head of Marketing
CFG Merchant Solutions™
(844) 662 – 3467
ndefeis@cfgms.com
cfgmerchantsolutions.com
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