PROFILE
Billy Morrissey Small Business Financial Leader By Isaiah Negron ntrepreneur Billy Morrissey’s financial programs have put him at the top of the alternative financing industry. In response to the recent American economic slowdown, Morrissey decided to move forward from his real estate background and career as a stockbroker that spanned two decades and founded Merchant Solutions Group in 2007. “I called my mother and told her about my plan.” Morrissey remembers. “She thought I was crazy.” Starting off as a oneman business, where he fielded every incoming phone call himself, Morrissey has now built his company to an industry powerhouse, becoming one of the country’s leading providers of cash advances to small and mid-size businesses and franchises. “The numbers we do in a month are in the top ten percentile in America,” Morrissey says. “And we’re always looking to keep growing.” This fall Morrissey has made a 5,510 square foot expansion in his New York City offices, now encompassing both the 19th and 20th floors of his building at 11 Broadway. He also has an office in Chicago. Since its founding, Merchant Solutions Group has funded more than 500 businesses in every state across the country with over $200 million in working capital. Their clients range from retail stores, restaurants, hotels, liquor stores, bars and owners of such franchisees as GNC, Lucile Roberts, Beach Bum Tanning and Subway. Morrissey states, “No matter the industry, we try our hardest to find a program for businesses looking to expand and grow.” When Superstorm Sandy struck New York last year, Merchant Solutions Group funded 12 different businesses that were damaged in the storm’s wake, providing over $500,000 of recovery funds. Morrissey also reached out to businesses after the catastrophic BP Gulf Oil Spill and Hurricane Katrina. “Small business America isn’t helped by the big banks. That’s our niche,” says Morrissey. “While banks say no, we say yes.” His commitment to business owners, especially in their time of dire need, goes hand-inhand with his own plans to expand and become even more successful.
As the year draws to a close, businesses in New York City and across America are preparing for the dreaded first quarter of the fiscal year, when profits are usually at their lowest. Morrissey, however, is gearing up for a booming start to 2014. “The holiday rush will be over January 1st and this will be our best quarter,” he comments. “It’s a new year with new beginnings, new goals and new drives.” Not only has Merchant Solutions Group increased its office space they are also doubling their staff to 80 employees this January. With a sterling reputation and the assets to keep flourishing and help America’s businesses grow, Morrissey says, “I want to be the largest company in the industry in 3 years, and I know we will be. The sky is the limit. I want to help every entrepreneur with a dream to succeed.” • (212) 374-0129 merchantsolutionsgroup.com
t Resident December 2013