Renaissance Financial Corp. Works With Advantage Capital Partners to Move Headquarters...
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Renaissance Financial Corp. Works With Advantage Capital Partners to Move Headquarters to City Missouri New Markets Development program funding enables financial service firm to expand and remain headquartered in St. Louis ST. LOUIS, May 18 /PRNewswire/ -- Advantage Capital Partners, a leading venture capital and small business finance firm, provided $7 million in financing to Renaissance Financial Corp., an independently owned and operated financial advisory service firm, headquartered in St. Louis. Advantage Capital provided funding in connection with the Missouri New Markets Development program and the federal New Markets Tax Credit program. The funds will be used to support Renaissance Financial's continued expansion and move into a new state-of-the-art facility in St. Louis city. "This is a great use of the Missouri New Markets program," said Louis T. Dubuque, managing director at Advantage Capital. "The company expects to grow its St. Louis office to more than 200 employees by 2015, at a rate of approximately 20 new advisors and staff per year. This is great news at a time when employment in our region is down." "The Missouri New Markets program has been very beneficial to numerous St. Louis companies and I'm pleased that the program enabled Renaissance to remain in Missouri," said Rep. Rachel Storch (D) St. Louis. "In these difficult economic times, keeping companies and growing jobs are key to our region's success. Renaissance will be a part of that success and I welcome them to my district." As part of the company's plans for the growth, Renaissance Financial recently moved to a newly constructed building located near Highway 40 and Hampton Avenue, in the Highlands Plaza Development. The building is owned by a group led by Renaissance Financial and Balke Brown Associates. "We are committed to serving the St. Louis community and the funding from Advantage Capital and the Missouri New Markets program positions our company to continue its growth trajectory," said Greg Keller, CEO of Renaissance Financial. "Our recent move to a new facility in St. Louis city allows us to expand our resources and double our office capacity." Renaissance Financial (www.renaissancefinancial.com) provides customized solutions to assist individuals and businesses in reaching their financial goals. The financial services firm offers estate planning, individual financial services, investments, protection planning and retirement services for businesses and high net worth individuals. Renaissance Financial is based in St. Louis, with additional offices in Omaha, Nebraska; and Kansas City, Kansas. Founded in 1994, the firm has grown to more than 100 employees with more growth planned in the future. About Advantage Capital Partners Advantage Capital Partners (www.advantagecap.com) is a leading venture capital and small business finance firm focused on early stage companies and other investments supporting state and local economic development efforts. With offices and partners in St. Louis, New Orleans, Austin and other U.S. cities, Advantage has raised more than $1 billion in capital since 1992 and invested in companies located in geographic areas underserved by traditional venture capital. About the Missouri New Markets Development program Enacted in 2007, the Missouri New Markets Development program encourages investment in promising small businesses located in distressed communities throughout the state. The program enables up to $186 million of capital investment in Missouri's small businesses. The state program attracts investment in low-income communities through a state tax credit modeled after the federal New Markets Tax Credit. The goal of the program is to attract large, long-term investors to Missouri's low-income communities, promoting new expansion, creating new job opportunities and building on existing growth in the state. SOURCE Advantage Capital Partners Dana Minaudo of Advantage Capital Partners, +1-314-725-0800, dminaudo@advantagecap.com
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