The companies will operate as two separate entities, and will maintain its respective headquarters in Delaware and Pennsylvania. Both will be run by Rocco Perate, founding principal and president and CEO of Preferred Capital Bidco.
Mr Perate said: BCP is an ideal addition to our small business administration lending business. We recognize the value of having two teams of professionals servicing those small business customers who have already expressed a need for all of our lending products. We expect a robust year for both companies.