November 27th, 2012 - Rapid Financial Services, LLC (dba RapidAdvance), one of the nation’s leading providers of short-term working capital to small businesses, today announced that Steven G. Mandis, a former executive at Goldman Sachs and Citigroup and consultant to McKinsey, has purchased an ownership stake in the Company and will serve as a Strategic Advisor.
Rapid Financial Services, LLC’s Chief Executive Officer, Jeremy Brown stated:
“Steven shares our passion for finding a solution to the problem that small business owners face every day, which is to find accessible and affordable financing for their business. Steven has a proven track record of helping build successful, fast growing businesses. He adds expertise in technology and data analytics, senior contacts with potential strategic partners, unique skills in risk management, and international experience. We believe Steven’s expertise will complement RapidAdvance’s strengths and help us in our mission of continued innovation in product offerings and small business financing solutions. His investment in RapidAdvance is a testament to the value of our business model and affirms our position as a leader within the alternative financing industry.”
With multiple programs ranging from to loans, RapidAdvance has financed over 11,000 businesses ranging from traditional storefront retail establishments such as restaurants, dry cleaners, florists, and automotive repair to manufacturing, trucking, and construction companies by offering customized financing solutions matching the individual business owner’s needs.
Mr. Mandis stated:
“After conducting diligence on the entire small business financing industry for most of the last year and meeting virtually all of the management teams in the space, I knew that RapidAdvance was uniquely positioned to be a leader in the industry. RapidAdvance has professional management and processes combined with a proven, successful business model. It offers value-added customer solutions and is widely recognized as having one of the best reputations in the industry. It is one of the fastest growing companies focused on helping small businesses get financing and is poised for long term growth.”