Finova Capital was launched in 2021 in Rochelle Park, N.J., by the team that previously managed First Data Global Leasing and Ascentium Capital Merchant Finance. Led by Bob Neagle, Finova's president and CEO, the founding members sought to create simpler, faster funding solutions to help small and midsize companies grow.
"We believe small businesses are the backbone of the economy," Neagle said. "That's why our team is committed to giving merchants the experience they deserve, with a wide range of financing options and simpler, faster solutions to help them grow."
Neagle noted that Finova Capital's ISO and processor partners share the same core values, which he summarized as a forward-thinking mentality, desire to help small businesses succeed and a commitment to long-term success. The company is committed to a seamless, integrated, digital experience for ISO partners and leverages a unique partner platform that creates new levels o financing and operational efficiency, he added.
Finova leaders bring more than 50 years of combined finance experience to merchant acquirers and the payments industry, Neagle stated, adding that they know what small businesses and startups need and what it takes for processors and ISOs to perform.
Neagle commended his company's 20 employees and senior executives for their friendly, spirited work ethic and focus on providing simple, fast-growth, small-business financing. Company leaders include Bryan Brouillard, chief risk officer; Waqas Sattar, chief operations officer; and Lisa Fitzgerald, senior vice president, technology.
"Finova has provided financing to close to a million merchants in the United States, Canada and EMEA in recent years," Neagle said. "We're experienced, knowledgeable, and easy to work with and we value transparency in all partner and merchant interactions."
Having weathered multiple economic cycles, Finova brings deep finance experience, knowledgeable support and unparalleled merchant scoring capabilities, as well as financing tools designed to enhance efficiency, transparency and trust, Neagle stated. Product and service offerings include a full product suite, a superior front and back-end technology platform, a dedicated customer service team, and an integrated dashboard that makes doing business with us fast, easy and enjoyable, he added.
In the past 15 years, in addition to providing services and support to major payment card processors in the United States, Europe, the Middle East and Asia, the company has supported its nearly 1 million merchants through multiple product and service offerings, which include POS equipment financing and rentals, merchant cash advances, working capital loans and term loans, Neagle noted.
"We may be a young company but our experience runs deep, and we understand the credit profiles of the variety of small businesses we serve," Neagle said. "Our ISO partners share our vision of long-term growth and understand that joint ventures with a rock-solid partner like Finova result in success for ISO partners and merchants alike."
Neagle went on to say that working with Finova gives ISO partners peace of mind, which enables them to get more business done faster, with superior product offerings and dedicated support from a trusted merchant finance provider. The Finova team's deep small-business lending and financing experience gives them the flexibility and ingenuity to design creative offers that get results and boost conversion rates, he added.
According to Neagle, most merchant financing is unsophisticated, and most merchants are underserved, which is why Finova Capital is partnering with forward-thinking ISOs and processors to deliver the right solutions to the right businesses.
"As we build more partnerships with merchant acquirers, we look forward to spurring growth for ISOs, processors and merchants alike, which is what we call a win/win/win," Neagle said. "From there, we intend to evolve our portfolio of merchant finance products, continually expanding opportunity in this exciting space."
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