Preferred Capital LLC Announces Acquisition of Business Credit Partners, L.P.
WILMINGTON, DE – January 3, 2008. Preferred Capital, LLC, parent of Preferred Capital, BIDCO, Inc. (www.sbayes.com), one of the mid-Atlantic region’s top U.S. Small Business Administration (SBA) lenders by loan volume, has announced the acquisition of Business Credit Partners, L.P. (www.bcpfunding.com), an established and traditional asset based lender headquartered in Ardmore, PA.

Preferred Capital BIDCO provides long-term flexible financing by utilizing various government-guaranteed lending programs. Its expertise is in commercial owner-user real estate, small business lending and specialty lending.

Business Credit Partners, L.P. (BCP) is a privately held commercial finance company, servicing small to mid-sized businesses with credit needs up to $3 million. BCP’s primary goal is to provide clients with working capital to use for growth, reorganization, turnaround and/or expansion. BCP seeks to accomplish this by offering a wide range of ABL and/or factoring products tied to the prospective clients’ needs and their collateral strength. Business Credit Partners began operations in 2006 and was established from a reorganization of Mercantile Business Credit, a business formerly located in Ardmore.

“We are delighted with the addition of BCP to our SPA lending business,” stated Rocco Perate, President and CEO of Preferred Capital. “BCP has an existing portfolio of customers administered by an experienced team of professionals who fully understand the ABL products they lend as well as their clients’ needs.”

Preferred Capital BIDCO and Business Credit Partners, L.P. will operate as two separate entities, both run by Mr. Perate and maintaining their respective headquarters in DE and PA. Said Mr. Perate, “We recognize the value of having two teams of professionals servicing small business customers. Our customers and referral sources have already expressed a need for all of our lending products. We expect a robust year for both of our companies.”

In 2008, Mr. Perate noted, BCP will most likely be branded under the Preferred Capital name to “aid in overall name recognition and to enhance our overall marketing effort. With the two companies’ product lines and synergies, we are looking to expand our business development staff as well as our geographic market this year as well.”

Preferred Capital BIDCO, Inc. is a nationally chartered, non-depository lending institution licensed by the Delaware State Banking Commission and a National Preferred Lender (PLP) with the U.S. Small Business Administration. Preferred Capital’s corporate headquarters are located at 300 Delaware Avenue, Suite 1380, Wilmington, DE 19801.

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