NEW YORK, Feb. 4, 2015 /PRNewswire/ -- World Business Lenders (WBL) announced the acquisition of certain business loan operations of Merchant Solutions Group (MSG). Billy Morrissey, the founder and CEO of Merchant Solutions Group, has joined WBL as Vice President and will lead a sales operation based at WBL's headquarters in midtown Manhattan. Seventeen former employees of MSG have moved with Morrissey to WBL to form the core of a new sales group managed by Morrissey.
Over the past six years, under Morrissey's leadership, Merchant Solutions Group has arranged over $200 million in financing for more than 3,000 small and mid-sized businesses across the United States. Morrissey, who has been an innovative national leader in arranging alternative financing solutions for businesses stated: "It is well known in our industry that WBL has the strongest and most experienced leadership. I welcome the opportunity to combine my team with one of the premier funders in our industry. I am honored to be part of WBL and play a role in growing and transforming the way small businesses are served. Being fully integrated into WBL's underwriting and funding operation will enable us to provide faster approvals and superior loan terms to business owners."
Alex Gemici, Managing Director and Head of the Retail Division of WBL stated: "We are delighted that Billy, a respected industry veteran and leader, has chosen to join our growing company, and we are confident Billy and his team will make a meaningful difference in WBL's growth in 2015."
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