News

Funding close sets up Super G to offer larger, longer-term loans to IADs

It's good news for ATM deployers facing costly EMV upgrades and those looking to expand their business, the company says.

September 23, 2014

Super G Funding LLC, a provider of residual and cash flow based loans to small and midsize businesses, has held its first closing as part of a $100 million fund commitment from asset management firm Inmost Discovery Capital LLC.

The funds will allow Super G to broaden its residual-based loan strategy to related markets and expand its deal size to meet the needs of larger businesses, according to a news release from the company.

"This is good news for ATM deployers faced with the staggering costs of upgrading ATM equipment to EMV and those looking to expand their business," said Super G Funding founder and CEO Darrin Ginsberg. "The new capital will allow us to expand our lending activities and provide ISOs and ATM deployers with as much as $5 million in loans, with longer-term structures."

Super G specializes in lending to IADs, ISOs and merchant services providers, and has successfully closed more than 450 loans since 2008. The company's lending strategy focuses on small businesses that are constrained by the lending parameters of traditional commercial institutions or simply do not have access to these providers.

"The largest factor in lending difficulties for ISO and ATM deployers is that banks simply don't understand the business model," said Super G COO Jon Engleking. "Banks typically have strict credit criteria based on eligible collateral, and residual streams are not a traditional eligible asset. We understand how ISOs and ATM deployers operate, and loan money based on residuals."