Mecox Bay Financial Expands Debt Buyer Finance Program

Mecox Bay Financial, a private finance company based in New York, announced today that it is committed to expanding its finance program to small and mid-sized non-performing consumer debt buyers across the United States.   Mecox closed its first transaction earlier this year, and has actively expanded its pipeline of debt buyers over the past few months.

Mecox has found that the problem for many small debt buyers is that their access to capital is still limited.  Many banks are no longer extending credit lines to small debt buyers.  These banks do not understand how to price portfolio purchases and therefore cannot get comfortable with the risk.

The partners of Mecox however have extensive experience in the non-performing consumer debt industry.  They understand the sector, and realize the current opportunity in the industry.

Mecox announced that it is committed to working with debt buyers to expand their business, and will provide flexible financing solutions (from $5 to $20 million) to companies that need capital for new portfolio purchases, acquisitions, or refinancing.

Mecox will work with companies throughout the United States that have experienced management teams and successful track records, with the goal of developing long-term relationships and helping clients to build their financial strength.

For more information, please email jchin@mecoxbayfinancial.com.