New York, NY (June 22, 2000) - Vertical Lend, Inc. and Business Loan Center, Inc. (a subsidiary of BLC Financial Services, Inc.) (AMEX:BCL) announced today their business alliance to provide greater loan product services to financial professionals. BLC, a nationwide " SBA Preferred Lender," will be the exclusive lender for Vertical Lend's SBA government guaranteed loan offerings.

Vertical Lend is a unique service program, founded by David Peskin, the company president. Vertical Lend enables its nationwide network of independent associates to offer a variety of lending solutions directly to their customers. These associates are tax preparers, financial planners and insurance agents who access such services through the company's Internet portal, www.verticallend.com. This new alliance with BLC furthers Vertical Lend's strategy of enabling financial professionals to offer a broad range of lending solutions.

"We are thrilled to be working with the Business Loan Center," said Vertical Lend's David Peskin of the new alliance. "Together with BLC, we have more options to offer our clientele, including the ability to approve and facilitate government guaranteed loan products. It's a win-win proposition for all of us."

According to Robert F. Tannenhauser, Chairman and President of BLC Financial Services, Inc., "Our relationship with Vertical Lend is unique because it provides us direct access to financial professionals who will be supplying us with high-quality, pre-screened leads. We are very optimistic about the success of this program."

Vertical Lend offers its Associates an entire suite of lending solutions such as residential mortgages, small business loans and auto loans, as well as educational tools, calculators, product information and loan pricing. Unlike other lending portals that compete with financial professionals by directly targeting consumers, Vertical Lend enhances a financial advisors specific relationship with consumers in order to provide higher quality advice, better loan execution and exceptional customer service through a combination of Internet technology and personal attention. Vertical Lend is headquartered on Long Island, New York, has approximately 400 Associates and expects to double in size by December 2000. For the year ended December 31, 1999, the Company originated approximately $190 million in loans.

Business Loan Center, Inc. specializes in the originating, selling, and servicing loans under the U.S. Small Business Administration's Section 7(a) Guaranteed Loan Program. Business Loan Center, Inc. is a small business lending company chartered as one of fourteen national non-bank-lending institutions licensed to participate in this program. BLC Commercial Capital Corp. specializes in originating, selling and servicing Business and Industry loans through the United States Department of Agriculture program.

The statements in this press release that are not historical facts are forward-looking statements based upon current expectations. Such forward-looking statements involve risks and uncertainties, including risks and uncertainties set forth in "Risk Factors" and elsewhere in BLC's Form 10-K filed with the Securities and Exchange Commission for the fiscal year ended June 30, 1999.