Business Financial Services, Inc. (BFS), a technology-enabled small business financing platform, acquired Entrust Merchant Solutions, a New York City-based independent sales organization providing financing solutions for small businesses.
Prior to the acquisition, whose amount was not disclosed, Entrust was one of BFS’s largest independent sales organizations.
Founded in 2007 by Ilya Fridman and Jared Maltz, Entrust is an independent sales organization offering short-term business loans and merchant cash advances to small businesses. The company, which works with small businesses in all 50 states and Canada, has additional locations in Long Island, NY and in Tampa, FL.
Following the close of the transaction, the company will continue to operate under the direction of Mr. Fridman, who will report directly to Marc Glazer, CEO and co-founder of BFS.
BFS provides financing solutions from $4,000 to $2 million to businesses in all 50 states, as well as in Canada and the United Kingdom. The company serves more than 400 industries including businesses in the retail, restaurant and hospitality, manufacturing, transportation, professional services and healthcare sectors.