News & Press Releases

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News & Press Releases - CAN Capital

Jun 26, 2024

CAN Capital Completes Term Debt Securitization

MARIETTA, GA, JUNE 26, 2024 – CAN Capital, Inc., (“CAN”) an innovator in alternative small business finance, has successfully completed a $175 million funding program, which includes a variable funding note facility with a maximum borrowing amount of $50 million and a $125 million asset-backed notes (“Notes”) term securitization. This transaction was CAN's second term securitization and its first since 2014.  This financing provides CAN with fixed-cost borrowing and will be recorded on its balance sheet as a financing transaction. The Notes were issued in three classes rated A, BBB and BB- by KBRA.  The blended yield on the Notes is 8.47% per annum.  The transaction also featured a dynamic advance rate, depending on the then-current collateral composition, ranging from 92.25% to 96.75%.  The initial receivables securing the offered notes had an average original balance of $76,604. “We are pleased to announce the completion of our first term securitization since 2014, which will help fuel our growth for the next several years” said Edward Siciliano, CAN’s CEO. “The strong reception reflects CAN’s long-standing presence in financing small businesses, favorable market position, institutional backing and the strong management controls and procedures put in place by its executive management team.” Guggenheim Securities, LLC was sole structuring advisor, book-running manager and initial purchaser. This press release is not an offer to sell or solicitation to buy securities in any jurisdiction where such actions are unlawful. About CAN Capital CAN Capital, Inc., established in 1998, is the pioneer in alternative small business finance. As a technology-powered financial services provider, CAN uses innovative and proprietary risk models combined with daily performance data to evaluate business performance and facilitate access to capital in a fast and efficient way. CAN makes capital available to businesses through business loans made by WebBank and makes equipment financing available through equipment loans and leases offered by various providers of such products. Investor Contacts: Rich Irwin Chief Financial Officer 678-239-3819 Ed Dietz General Counsel 678-239-3711

Oct 30, 2023

CAN Capital announced the appointment of Richard G. Irwin as Chief Financial Officer (CFO)

FOR IMMEDIATE RELEASE October 30, 2023 Marrietta, GA – October 30, 2023 – CAN Capital announced the appointment of Richard G. Irwin as Chief Financial Officer (CFO), effective today. Mr. Irwin has been in senior financial leadership positions for the past decade and has been in the financial industry for the past 30 years. “Rich is joining CAN at the perfect time to help us take our strong SMB lending platform to the next level of profitability,” said Ed Siciliano, Chief Executive Officer. “Our team is excited to work with Rich as we build an admired company and serve our loyal and appreciated customer base.” “CAN is a pioneer in the small business lending market,” said Mr. Irwin. “Their reputation, with $8 billion in loans facilitated and over 1,000 five-star Trust Pilot reviews was impressive, and I can’t wait to be a part of the positive culture that they are known for.”   About CAN Capital CAN Capital, Inc., established in 1998, is the pioneer in alternative small business finance. As a technology-powered financial services provider, CAN Capital uses innovative and proprietary risk models combined with daily performance data to evaluate business performance and facilitate access to Capital for entrepreneurs in a fast and efficient way. CAN Capital, Inc. makes capital available to businesses through business loans made by WebBank, makes equipment financing available through equipment loans and leases offered by various providers of such products, and makes business lines of credit available through providers of that product. © 2016 – 2023 CAN Capital, Inc. All rights reserved. Press Contact: Evan Day Email: eday@cancapital.com

Apr 20, 2023

CAN Capital Reaches Impressive Milestone, Providing Access to Over $8 Billion in Working Capital to U.S. Businesses

FOR IMMEDIATE RELEASE April 20, 2023 CAN Capital, Inc., an innovator in alternative small business finance, announced today that it recently reached a significant milestone - providing access to over $8 billion in working capital to U.S. Small Businesses, loans originated by WebBank. For 25 years, CAN Capital’s technology, data-driven models, experienced team, and customer-focused delivery have enabled the company to become a leader in alternative finance servicing small businesses. CAN Capital’s milestone reflects the success of its mission to unlock capital for even more small businesses. The company facilitated over 208,000 funding contracts, enabling more than 85,000 merchants to access the working capital they need to take their businesses to the next level. Ed Siciliano, CAN Capital’s CEO, says, “Everyone at CAN is excited about this milestone; it speaks to the value that we feel we have brought to the SMB market for decades. Having said that, we are constantly working to improve how we service our customers and partners with the benefit of having outstanding employees.” ### CAN Capital, Inc., established in 1998, is the pioneer in alternative small business finance. As a technology-powered financial services provider, CAN Capital uses innovative and proprietary risk models combined with daily performance data to evaluate business performance and facilitate access to Capital for entrepreneurs in a fast and efficient way. CAN Capital, Inc. makes Capital available to businesses through business loans made by WebBank and makes equipment financing available through equipment loans and leases offered by various providers of such products. ©2023 CAN Capital, Inc. All rights reserved. Press Contact: Evan Day Email: eday@cancapital.com

Mar 14, 2023

CAN Capital Revitalizes its Technology Platform

FOR IMMEDIATE RELEASE February 23, 2023 CAN Capital Revitalizes its Technology Platform CAN Capital has announced the successful completion of its two-year-long technological transformation, modernizing its loan origination and servicing platform, as well as migrating its on-premise data center to the cloud. The CAN Capital technology transformation was driven by the need to prepare for long-term post-COVID growth and provide first-class solutions to stakeholders. The process involved the whole company adapting and improving existing business processes with technology as the enabler. Through the journey, CAN Capital has ensured its platform is secure, scalable and provides the best possible solutions to its partners, customers, and itself. The transformation included the migration of the loan origination and serving platform to a cloud-based platform and the migration of the on-premises data center to the cloud. The integration between the loan origination and serving platform and third parties is completed using a serverless architecture that allows for greater scalability and efficient processing of transactions. The loan origination and serving platform is also fully integrated with the tools utilized by sales and customer service teams for easy world-class customer service. CAN Capital’s Chief Technology Officer, Jim Sherlock, says, “CAN Capital's technology transformation is a foundational step in its ongoing efforts to modernize product offerings and delivery methods for both its customers and partners. With the small business lending market becoming increasingly competitive, this enhanced technology infrastructure enables an improved lending experience while simultaneously minimizing risk and streamlining operational expenses.” With a mission to create an environment of opportunity, CAN Capital has been helping small business owners access the financing solutions they need to grow and thrive for 25 years. ### About CAN Capital CAN Capital, Inc., established in 1998, is the pioneer in alternative small business finance, having provided access to over $8 billion in capital through over 200,000 transactions in a wide range of locations and different business types. As a technology-powered financial services provider, CAN Capital uses innovative and proprietary risk models combined with daily performance data to evaluate business performance and facilitate access to capital for entrepreneurs in a fast and efficient way. CAN Capital, Inc. makes capital available to businesses through business loans made by WebBank and makes equipment financing available through equipment loans and leases offered by various providers of such products. ©2023 CAN Capital, Inc. All rights reserved. Press Contact: Evan Day Email: eday@cancapital.com

May 27, 2021

New CAN Capital Survey Results Show Small Business Owners Confident in the Future

[Kennesaw, GA] – New data released today by CAN Capital, Inc., a provider of access to working capital for small and medium sized businesses, shows business owners have a sense of confidence for the future after the COVID-19 crisis. Polling more than 400 U.S. small business owners across 49 states, the research reveals the majority of small business owners believe their business’ future is bright. Specifically, 79% of respondents feel at least somewhat confident in their business’s future, with 54% responding they are very confident. The data also shows that 74% of these businesses are currently either fully or partially open and for those that are partially open, 68% expect to be fully operational within 60 days. In fact, 37% of respondents in the survey never released any of their employees and 36% plan to hire back all employees that were released due to the crisis. The research also shows 81% of small business owners feel access to working capital will be more difficult after the crisis. However, 82% of the respondents say they will invest in their businesses within nine months with 44% planning to invest immediately. “The overwhelmingly positive sentiment displayed by these business owners was a bit surprising but extremely encouraging”, said CAN Capital VP of Marketing, Russell Walraven. “The confidence in the future of their business shows just how resilient and dedicated these business owners are to weathering this unprecedented storm.” About CAN Capital CAN Capital, Inc., established in 1998, is the pioneer in alternative small business finance, having provided access to over $7.5 billion in capital through over 200,000 transactions in a wide range of locations and different business types. As a technology powered financial services provider, CAN Capital uses innovative and proprietary risk models combined with daily performance data to evaluate business performance and facilitate access to capital for entrepreneurs in a fast and efficient way. CAN Capital, Inc. makes capital available to businesses through business loans made by WebBank, member FDIC, and through Merchant Cash Advances made by CAN Capital’s subsidiary CAN Capital Merchant Services, Inc. ©2020 CAN Capital. All rights reserved. Contact: Russell Walraven, 678-986-6748, rwalraven@cancapital.com

May 24, 2021

CAN Capital provides access to over 200,000 loans totaling $7.5 Billion in working capital to U.S. businesses

[KENNESAW, GA, May 2021] — CAN Capital, Inc., pioneer in the alternative small business finance space, today announced that it has reached the milestone of providing small businesses with access to more than $7.5 billion in working capital. During its 22+ years in business, CAN Capital has leveraged its proprietary data-driven models, expert team, technology and customer-focused delivery to earn its position as the most experienced alternative finance company serving small businesses. To date, CAN Capital has facilitated over 200,000 small business fundings in more than 540 unique industries. “Reaching this milestone underscores how CAN Capital’s experienced team and innovative technologies have helped small business owners access much needed capital to grow their businesses”, says Ed Siciliano, Chief Executive Officer, CAN Capital. “Coming out of the pandemic, small business owners have an appetite for investing in the workforce, inventory, marketing and technology to adapt to this new environment and take advantage of opportunities created by an expanding economy. We facilitate fast approvals and fundings so business owners can spend time focusing on these goals and running their businesses instead of searching for capital.” “Small businesses are an incredibly important part of the American economy. We’re proud we’ve been able to support them over the past 22+ years, and look forward to continuing to do so with new products and significantly enhanced technology that will help drive future growth for CAN, our partners and our customers”, says Siciliano. About CAN Capital CAN Capital, Inc., established in 1998, is the pioneer in alternative small business finance, having provided access to over $7.5 billion in capital through over 200,000 transactions in a wide range of locations and different business types. As a technology powered financial services provider, CAN Capital uses innovative and proprietary risk models combined with daily performance data to evaluate business performance and facilitate access to capital for entrepreneurs in a fast and efficient way. CAN Capital, Inc. makes capital available to businesses through business loans made by WebBank, Member FDIC. All rights reserved. Contact: Russell Walraven, 678-986-6748, rwalraven@cancapital.com