News from the Wire

Business Financial Services acquires Entrust Merchant Solutions

Thursday, August 27, 2015 — 12:14:12 (EDT)

Coral Springs, Fla., Aug. 27, 2015 -- Business Financial Services, Inc. (“BFS”), a leading technology-enabled small business financing platform, announced today that it has acquired Entrust Merchant Solutions (“Entrust”), an independent sales organization providing financing solutions for small businesses.

BFS began financing Entrust customers in 2009 and the relationship has grown successfully since then. Prior to the acquisition, Entrust was one of BFS’s largest independent sales organizations.

“We are very excited to welcome Entrust into the BFS family,” said Marc Glazer, CEO and co-founder of BFS. “The two companies share a philosophy of empowering small business growth through timely and flexible financing. Entrust is a natural extension for our brand.”

“We are proud to be part of the BFS team,” said Ilya Fridman, CEO of Entrust. “BFS is an industry pioneer and has been a great partner for us these last six years. We look forward to continuing our growth under their stewardship.”

Founded in 2007, Entrust is based in New York City, and has additional sales offices in Long Island, NY and Tampa, FL. Entrust will continue to operate under the direction of Mr. Fridman, who will report directly to Mr. Glazer.

Last month, BFS announced that it had extended over $1 billion in funding to small businesses since inception. 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.

About Business Financial Services

Business Financial Services, Inc. is a leading technology-enabled small business financing platform providing business loans and merchant cash advances to small businesses. BFS was founded in 2001, and is supported by private equity and institutional partners. With headquarters in Coral Springs, FL, BFS serves businesses in all 50 states and, through affiliates, in Canada and the United Kingdom. BFS is proud to be an accredited BBB company with an A+ rating. Visit the BFS website at www.businessfinancialservices.com . In the UK, see www.boostcapital.co.uk .

About Entrust Merchant Solutions

Entrust Merchant Solutions is a well-respected and fast growing independent sales organization offering short-term business loans and merchant cash advances to small businesses. Founded in 2007 by Ilya Fridman and Jared Maltz, Entrust works with small businesses in all 50 states and Canada. Entrust is headquartered in New York City and has additional locations on Long Island, NY and in Tampa, FL. Visit the Entrust website at www.entrustms.com .

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Source: Company press release.