NEW YORK, July 16, 2014 /PRNewswire/ -- World Business Lenders (WBL) announced today the acquisition of certain business loan operations of TakeCharge Capital and Market Square Funding and the opening of a branch in Newington, Connecticut. The office will be co-managed by Sam Kota, founder of TakeCharge Capital and Mike Bernier, founder of Market Square Funding, who join WBL as Vice Presidents. Ten former employees of TakeCharge Capital and Market Square Funding will move with Kota and Bernier to WBL. The Newington location becomes WBL's second branch following the launch last year of its office in Syosset, Long Island.
Sam Kota and Mike Bernier each have deep experience in the small business loan and cash advance industry and, through their companies, have helped small businesses across the United States find access to needed capital.
"We are enthusiastic about having Sam and Mike join our growing platform. We will benefit from their extensive industry knowledge and innovative approach to managing sales teams," said Doug Naidus, CEO of World Business Lenders.
Kota is a veteran in the payments and merchant cash advance industry with over 10 years of experience in team leadership, business development and corporate strategy. With Sam at the helm, TakeCharge Capital arranged over $30 million in financing to small businesses nationwide. Prior to founding TakeCharge Capital, Kota gained extensive experience with Merchant Cash & Capital as Director of Business Development and with GRP Funding as Director of Strategic Alliances. "Mike and I are proud to be joining WBL. Doug and his team have a proven track record of growing successful companies and we are excited to be part of the WBL team," said Kota.
Bernier is an entrepreneur with almost a decade of experience in the small business lending industry. Having started his career at a sales office of Cynergy Data in 2005, Bernier quickly rose through the ranks to become Head of Sales. Bernier later started three financial services companies, culminating with Market Square Funding, and arranged over $20 million in financing for small businesses. Bernier added: "I am very impressed with the executive management team of WBL and am especially pleased to be able to act as a direct lender in addition to continuing to broker transactions."
About World Business Lenders
Headquartered in New York City, World Business Lenders (www.wbl.com) is a lender specializing in serving the small business community by providing working capital for the growth and maintenance of its customers' businesses. WBL was founded by a group of successful international entrepreneurs with extensive experience and background in financial markets. In serving the underserved small business community, the company helps to satisfy the growing need for capital in this vital sector of the U.S. economy.
SOURCE World Business Lenders