1st Merchant Funding Secures Debt Financing

1st Merchant Funding PowerForce INFO1st Merchant Funding, a Miami, Florida-based provider of merchant cash advances, secured an undisclosed amount of debt financing.

BankUnited N.A., and GF-Merchant, LLC, a wholly owned subsidiary of Gries Investment Funds, provided the funds which will be used by the company to expand its growth initiatives which include expanding its capital base to increase its merchant advances and advance syndication capabilities.

Launched in 2007 and led by Stephen Wagman, CEO, 1st Merchant Funding provides small and medium-sized businesses with merchant cash advance products.It leverages data aggregation and electronic payment receipts in conjunction with proprietary scoring models to evaluate the financial health of small businesses, and provide immediate working capital as quickly as two business days.
1st Merchant Funding has a large independent sales network with over 2,900 independent sales agents marketing its cash advance products and is also the exclusive gatekeeper of PowerForce®, a financial technology platform.



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