First Source Business Finance, LLC

   

first_source_bf_color-2-640x157

 

First Source Business Finance, LLC

Press Release

Charlotte, NC - September 5, 2011 - Raley Commercial Finance & Leasing, LLC and First Source Funding Inc. are pleased to announce the formation of First Source Business Finance, LLC. (”FSBF”).  The founders’ vision sought to fill a market void in the direct focus on and availability of financial services to small and mid-size businesses, especially in the small ticket arena ($10,000 - $750,000).  FSBF was created to answer that need, and will concentrate in certain capital asset segments such as transportation, construction, agricultural, manufacturing, and medical.  The Company is launching its operations with the backing of newly created alliances with several banks and private funds throughout the United States.  In addition, syndication relationships developed over the last ten years will allow FSBF to place equipment transactions greater than $750,000.

Products to be offered will include leases (TRAC, FMV, First Amendment, and Finance), EFA’s, conditional sale agreements, and private label programs.

FSBF will bring to market a direct underwriting focus on the client, rather  than the use of a  credit scoring model. “We feel credit scoring is unfair to both client and lender, as in our opinion it can at times allow deserving credits to ‘fall through the cracks.’” said Ray.  “It is exciting to partner with Chris after working together for so many years and to be able to service clients and the referral community who are having increasing challenges funding their operations and transactions.” 

Chris noted “Ray and I have been waiting for the right environment for a company such as this for some time now, and feel the timing is perfect.  I echo Ray in my excitement to be involved with him in this, as I cannot imagine a more perfect partner.”

The Company will be managed by Chris Raley and Ray Bradley. Chris has 21 years of commercial finance experience including his years with Raley Commercial Finance & Leasing, LLC, Transportation Capital and First Prime Capital, LLC.  Ray, who formed First Source Funding, Inc. in 2002, has 35 years of experience in commercial lending and leasing, including senior management positions at GE Capital and Barclays Bank.

More information coming soon at www.fsbf.net.  Also, follow us on Facebook, LinkedIn and Twitter.

First Source Business Finance, LLC

888.504.1118 - Phone

888.504.1119 - Fax

 

 

 Transportation EquipmentConstruction Equipment

 


 

 

 

 

 

Combining the resources of

 First Source Funding and Raley Commercial Finance & Leasing.