Praesidian Capital has exited its first lien investment in Bridge Capital Solutions Corp., a Long Island-based commercial check casher. Praesidian provides mezzanine debt capital for small and mid-sized companies. Terms of the deal were not released.
Praesidian Capital (“Praesidian” or “the Firm”), a leading provider of mezzanine capital for small and mid-sized companies, has successfully exited its first lien investment in Bridge Capital Solutions Corporation, Long Island’s premier licensed commercial check casher.
Bridge Capital provides accelerated cash flow solutions for small businesses by giving business owners immediate access to working capital by fast-tracking the processing of business checks to make funds available instantly.
“We want to acknowledge all that Praesidian did in helping us grow as a company,” said Michel Casalini, president of Bridge Capital. “Jason Drattell along with his colleagues at Praesidian have been strong supporters of our company, and we are glad they have been our partners. We will always be grateful for that. It has been a pleasure working with the Praesidian team, and we are happy that both companies were able to benefit from our success.”
Bridge Capital Solutions Corp.
Bridge Capital Solutions Corp. is a licensed Commercial/Business Check Casher under the New York State Banking Department. Bridge Capital bridges the gap between customers’ payments to a business entity and the availability of those funds, providing immediate working capital for businesses. Bridge Capital is based in Hauppauge, NY. For more information, visit www.bridgecapitalsolutionscorp.com.
About Praesidian Capital
Praesidian Capital partners with small and mid-sized businesses by providing private debt capital. With a focus on its core competency in mezzanine financing, Praesidian invests in established, historically profitable companies often in connection with a management/leveraged buyout, recapitalization or refinancing. Based in New York City, Praesidian manages more than $700 million in committed capital.