SAN FRANCISCO, April 27, 2021 (GLOBE NEWSWIRE) -- BizCap® (Business Capital since 2002) structured and secured a $20MM Re-Discount Line of Credit for Consumer Mortgage Company (CMC), a provider of subprime financing solutions to automobile dealers and consumers located in the greater Houston Texas Metro area. The new credit facility will allow CMC, family owned and operated since 1974, to continue growing its portfolio.
“We spent countless hours and more than one year unsuccessfully trying to replace our incumbent bank ourselves, leaving us unable to focus 100% of our attention on business activities and hassling with banks who dismissed us out of hand because of our industry,” said Sean Anderson, President & CEO of CMC. “BizCap took the time to learn our business, ran a highly competitive process, and found us a new financial partner that exceeded our expectations and provided more access to capital at a better cost and structure than we previously had.”
BizCap® is a time-tested leading commercial finance and advisory firm specializing in securing customized non-dilutive credit-based solutions for rapidly growing as well as challenged middle market companies nationwide who require unique, timely and tailored financing structures to address their particular needs, especially when conventional sources of capital are not an option. BizCap is a proud supporter of Team IMPACT, a national nonprofit that connects children facing serious and chronic Illnesses with local college athletic teams, forming life-long bonds and life-changing outcomes.