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Anaheim Alternative Lender Looks to Double Capacity

Anaheim-based alternative lender American Finance Solutions aims to double its funding capacity to $200 million in the next year and a half based on a recent investment from a private equity firm.

American Finance specializes in relatively small loans, ranging from $10,000 to about $250,000. It primarily serves small-business clients in the retail, restaurants and other services sectors.

“We’re growing and needed balance sheet support,” said Chief Executive Scott Griest. “We can now access a greater pool of capital more easily and at a lower cost.”

Griest declined to disclose the amount of the private equity investment from Los Angeles-based CapFin Partners LLC.

American Finance has had an increase in loan applications “well over 100% over the last 24 months,” said Griest. “We’re seeing greater demand from small-business clients … because those that survived the recession are finally comfortable enough to make investment and willing to take on credit. Also, we have a lot of newer businesses that are 1 or 2 years old, which are benefiting from the growing economy. Typically those client bases can’t go to their banks and get business financing. They’re seeking out these alternative lenders.”

American Finance was founded in 2006 by Griest and a partner. It has about 30 employees, most of them in Orange County, with others in a New York office.

The CapFin investment also connects American Finance with Woodland Hills-based Continental Business Credit Inc., an asset-based lender that’s also in CapFin’s portfolio.

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