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Detroit-Based Rockbridge Growth Equity Acquires RapidAdvance

Investment will accelerate growth of small business finance company

DETROIT, September 16, 2013 – Detroit-based Rockbridge Growth Equity, LLC, has acquired Rapid Financial Services, LLC, (doing business as RapidAdvance). Based in Bethesda, Maryland, RapidAdvance is a leading provider of capital for small businesses.

RapidAdvance has created a technology-powered platform that underwrites small business loans and advances, providing its customers with capital quickly and efficiently. The company has opened up the market for capital to small businesses through its unique web-enabled system that is a dramatic improvement from the typical process a small business experiences with big banks.

“RapidAdvance’s product innovation, data driven ‘best-in-class’ underwriting, customer-first approach and talented team are a great addition to our family of companies. We will provide all the necessary resources to accelerate its growth,” said Kevin Prokop, Managing Director, Rockbridge Growth Equity. “We are excited to work with RapidAdvance in its effort to help America’s small business community.”

RapidAdvance has experienced year-over-year double digit revenue growth for the past three years, making it one of the most recognized companies in the small business finance industry. The company has provided nearly $600 million in working capital to thousands of small business owners across the nation, ranging from traditional retail establishments, brand name chain restaurants, automotive repair, manufacturing, trucking, and professional service providers.

“By aligning with Rockbridge, we will leverage our new relationship with its portfolio of companies, bringing best practices and expertise to nearly every aspect of our business,” said RapidAdvance CEO Jeremy Brown.

Current investors Andrew Cherner, Jonathan Cherner and Steven Mandis will remain shareholders of the company.

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About Rockbridge Growth Equity

Founded in 2007, Rockbridge Growth Equity, LLC is a Detroit, Michigan-based private equity firm that invests in financial and business services, consumer-direct marketing, and sports, media & entertainment industries. Rockbridge owns equity stakes in Northcentral University, Protect America, Connect America, RapidAdvance, Gas Station TV, ABUV Media and Robb Report, and is affiliated with other leading businesses in its target sectors including Quicken Loans, the 2016 NBA champion Cleveland Cavaliers, Title Source and Fathead. Since its inception, Rockbridge Growth Equity has managed more than $500 million of equity in its portfolio of companies. For more information on Rockbridge Growth Equity, visit www.rbequity.com.

About RapidAdvance

Bethesda, Maryland-based RapidAdvance is a leader in the small business finance industry. The company has provided nearly $600 million in working capital to thousands of small business owners across the nation, ranging from traditional retail establishments, brand name chain restaurants, automotive repair, manufacturing, trucking, and professional service providers. RapidAdvance has opened up the market for capital to small businesses through its unique web-enabled system that dramatically improves the typical process a small business experiences with big banks.

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