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.
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Business Credit Partners Appoints New President and CEO
ARDMORE, PA – January 3, 2008. Business Credit Partners, L.P. (www.bcpfunding.com), an established and traditional asset based lender (ABL) headquartered in Ardmore, PA is pleased to announce the appointment of Rocco P. Perate as its new President and CEO to direct its commercial finance business.
Mr. Perate is a 20-year veteran of local and national small business lending with substantial experience as a U.S. Small Business Administration (SBA) lender. He is the founding principal as well as the President and CEO of Preferred Capital BIDCO, Inc. (http://www.sbayes.com/rocco/roccoprofile.aspx), a nationally recognized and chartered SBA lending company. Mr. Perate sits on the boards of many industry-related groups and is a speaker and contributor to local and national small business publications and organizations. He is now a principal in BCP as well.
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Preferred Capital BIDCO, Inc. Launches New Website
Wilmington, DE, Preferred Capital BIDCO, Inc. February 2, 2007 - Rocco P. Perate, President and CEO of Preferred Capital BIDCO Inc., announced today the launching of its newly renovated website www.sbayes.com. Mr. Perate, stated "We have revised our website to coincide with the continued re-branding and marketing focus of our company. It was our goal to clearly and concisely present the financing options Preferred Capital can provide, and I am very pleased with the results. We believe that this new website will further emphasize our commitment to small business lending as we grow our lending footprint.”
Preferred Capital BIDCO, Inc. Announces Restaurant Transactions
Wilmington, DE, Preferred Capital BIDCO, Inc. January 24, 2007 - announced that it has recently financed several restaurant transactions, including four start-up Dunkin Donuts (one in Berks County, PA, one in Lancaster County, PA and the other two in the State of Delaware). All four projects financed involved ground-up construction or substantial leasehold improvements and totaled approx. $4.2 million. Additionally, Preferred Capital provided financing to renowned Chef Daniel Stern, who is known for his inspired cuisine to open two new restaurants in Philadelphia. His first, the 35-seat upscale bistro “Gayle,” is located in Philadelphia’s Queen Village section and has been honored by Bon Appetite magazine (June 2006) as one of the nation’s Top 10 Hottest New Restaurants. More recently, Preferred Capital provided financing to Stern for his second restaurant, the 220-seat upscale dining establishment “Rae,” which is located in Brandywine Realty Trust’s new Cira Centre adjacent to Philadelphia’s historic 30th Street Train Station. Preferred Capital has provided approx. $2million in leasehold improvement, equipment and start-up capital. Rocco P. Perate, President and CEO of Preferred Capital BIDCO, Inc. stated "We are very excited to extend our already active restaurant lending program to both Dunkin Donuts and Daniel Stern’s restaurants, as this further demonstrates our continued ability and commitment to a diverse lending program within the overall restaurant community."
Preferred Capital BIDCO, Inc. Announces Appointment of Rocco P. Perate to TRISTATE REALTORS® COMMERCIAL ALLIANCE
Wilmington, DE, Preferred Capital BIDCO, Inc. December 12, 2006 - announced that Rocco P. Perate, President and CEO of Preferred Capital BIDCO, Inc. has been appointed to the 2007 board of the TRISTATE REALTORS® COMMERCIAL ALLIANCE (http://www.tristaterca.com) as the only non-commercial real estate practicing member. Mr. Perate, President and CEO of Preferred Capital BIDCO, Inc. stated "it is an honor to be elected by the members of the TriState origination and to be recognized by my peers as someone who is committed to the overall well-being of the real estate industry and community, as well as for my long tenure of service to the group." Mr. Perate is also on the board of the Commercial Industrial Investment Council of Chester County, PA where he has held the position of the group’s Treasurer for several years.
Preferred Capital doubled small business lending in 2005
Wilmington, DE, January 31 - Preferred Capital, LLC, - said on Tuesday that it doubled lending to small businesses through its BIDCO, Preferred Capital BIDCO, Inc., in the fiscal year 2005 ending December 31.
The Wilmington, DE headquartered company reported that growth came as part of their effort to increase lending with government-backed loans, provided as part of the 7(a) loan program of the U. S. Small Business Administration.
Preferred Capital expanded its focus and participation in SBA loans by and boosting its presence in the SBA's Preferred Lending Program (PLP).
Preferred Capital has been designated a participant in the program in the states of PA, NJ and DE.
Preferred Capital BIDCO, Inc. is a non-depository lending institution licensed by the Delaware State Banking Commission.
Preferred Capital BIDCO, Inc. Announces Move
Wilmington, DE, Preferred Capital BIDCO, Inc. October 31, 2005 - announced that it has relocated its corporate headquarters to newly constructed space at 300 Delaware Avenue, Suite 1380, Wilmington, DE 19801.
The building is presently owned and operated by Brandywine Realty Trust (BRT) who is headquartered in Plymouth Meeting, PA. BRT is one of the Nations largest full-service real state companies.
Rocco P. Perate, President and CEO of Preferred Capital BIDCO, Inc. stated "We are very excited to be in our new space, as this location will allow us to fully operate our business in a more efficient manor given that our growing origination and processing staffs can now be in one central location."
Preferred Capital BIDCO, Inc. is a non-depository lending institution licensed by the Delaware State Banking Commission.
Preferred Capital BIDCO, Inc. Announces Highest Honor
Wilmington, DE, Preferred Capital BIDCO, Inc. September 30, 2005 - announced that it has achieved the highest honor bestowed upon an SBA lender by obtaining the ability to participate in the SBA's Preferred Lender Program (PLP) with the U.S. Small Business Administration (SBA) in the New Jersey, Philadelphia and Delaware District offices of the SBA.
The company also announced that it has obtained SBAExpress loan status, which allows for the company to make Express loans (fast track loans up to $350,000, which have a 50% guarantee from the SBA) throughout the United States.
"We are very pleased and honored that the SBA has recognized our expertise and outstanding abilities within the SBA loan programs. Being both a PLP and Express lender with allow us to achieve our goals and execute on our model to assist small business customers and be recognized as an alternative (to the banks) competent SBA lender." stated Rocco P. Perate, President and CEO of Preferred Capital BIDCO, Inc.
Preferred Capital BIDCO, Inc. is a non-depository lending institution licensed by the Delaware State Banking Commission.
Preferred Capital, LLC Announces Operating Company Name Change
Wilmington, DE, Preferred Capital, LLC January 3, 2005 - announced that it has changed the name of its operating company from Star Business and Industrial Development Corp. (BIDCO), also commonly known as Star Bidco, to Preferred Capital BIDCO, Inc. The new company plans to market under the name Preferred Capital.
"The name change will allow us to better accomplish our overall mission, which is to brand Preferred Capital as the most recognized alternative SBA lender in its markets. The planned name change was part of our acquisition of Star Bidco and restructuring of that company" says Rocco P. Perate, President and CEO of Preferred Capital BIDCO, Inc.
"Our core business, lending within the SBA 7(a) programs, has never been stronger and we plan to increase our SBA 504 lending in 2005. The 504 program offers long-term fixed rates, often 20 year fixed rates, and will assist in positioning us as an SBA industry leader," stated Perate.
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