Tenet Financial Group Acquires Phoenix Funding Source

Effective immediately, Tenet Financial Group has acquired Phoenix Funding Source. Derrick Skogsberg, Tenet Financial Group Founder, and Dave Woggon, Phoenix Funding Source CEO, made the joint announcement today, citing high optimism for small business and franchise opportunities for entrepreneurs in the coming year.

“Dave Woggon and I have worked together for years, and I’ve got immense respect for the business he has built. Phoenix Funding Source has a stellar team that exhibits the same passion Tenet has for helping people fund new businesses and franchises,” said Skogsberg.

“Our coming together further solidifies Tenet Financial Group as a powerhouse in the small business and franchise funding industry. We have always been, and will continue to be, a consultative, relationship-focused business. At the end of the day, we’re about helping people, not ‘selling’ funding.”

Dave Woggon will serve in the newly-created position of Vice President of Development and Operations. Max Mawhirter and Jeff Waldera join Tenet Financial Group Senior Consultants Diane Rosenkrantz, Symara Rog and Zack Flodeen.

Recent SBA stimulus package enhancements have incentivized lenders to lend and encouraged entrepreneurs to pursue available funding. In addition, Rollover funding continues to be a popular option for using equity, not debt, to purchase a new business or recapitalize an existing business. Tenet Financial Group provides consultation to each client individually, ensuring he or she is equipped to make an informed funding decision. To learn more about Tenet Financial Group, visit tenetfinancialgroup.com.

About Tenet Financial Group

Derrick Skogsberg has been in the retirement plan administration business since 2004 as the owner and founder of a Third Party Administration (TPA) company called FranFund. The first 401(k) plan he created was his own and he used his retirement money to fund that business. He divested his equity interest in FranFund back in 2008 and started Tenet Financial Group three months later, again using retirement dollars. Today, Tenet Financial Group supports many thousands of small business clients through 401(k) Rollovers, SBA Loans, Unsecured Lines of Credit, Equipment Leases and other funding options. The company is headquartered in Aledo, Texas, with employees in 10 states and operations in 4 states.

About Phoenix Funding Source

Dave Woggon has been serving potential and new business owners in the franchise industry since 1986, helping them get into business. Jeff Waldera spent 17 years as a financial advisor prior to joining Phoenix Funding Source. Max Mawhirter operated his own financial services practice for nearly three decades and three years in franchise development with the Neighborly Group before joining Phoenix Funding Source.