Crossroads Systems Acquires Fountainhead, National SBA Lender
December 16, 2021
Crossroads Systems, Inc. (OTCQX: CRSS) has reached an agreement in principle to acquire Fountainhead, a national non-bank direct lender specializing in SBA 7(a), SBA 504 and low-LTV conventional loans. The acquisition is intended to diversify Crossroads' small-business product mix and expand its SBA lending capabilities; the deal is subject to SBA consent and expected to close in H1 2022.
- Buyers
- Crossroads Systems, Inc.
- Targets
- Fountainhead (Fountainhead SBF / Fountainhead Commercial Capital)
- Industry
- Financial Services
- Location
- Florida, United States
- Transaction Type
- Buyout
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