Last Revised: August 9, 2016
Since 1998, CAN Capital, Inc. and its subsidiaries (CAN Capital) have provided small businesses access to over $6 billion in working capital. CAN Capital’s award-winning technology platform automatically evaluates a multitude of business performance variables by integrating data from firmographic, banking, and credit card processing sources with proprietary risk models built from over 150,000 transactions over multiple business cycles in hundreds of industries. This enables CAN Capital to have unparalleled insight into the strength of the business and provide access to capital based on factors that include business performance, rather than solely the personal credit scores of the business owners. This site presents some capabilities of CAN Capital to risk-assess, originate, and risk-manage various kinds of financial products and services to small and mid-sized businesses (SMBs), including its Daily Remittance Platform™, proprietary data and scoring models, workflow solutions, data capture mechanisms and predictive analytics, among others. CAN Capital, Inc. makes capital available to businesses through business loans made by WebBank, member FDIC, and through CAN Capital’s subsidiaries: Merchant Cash Advances by CAN Capital Merchant Services, Inc., and business loans by CAN Capital Asset Servicing, Inc. ©2016 CAN Capital. All rights reserved. Merchant Cash Advances The Site outlines CAN Capital’s capabilities. One of the financial products offered through CAN Capital is the purchasing of a specified amount of a business’s future credit card and other payment card sales at a discount. These purchase transactions are typically referred to as “Merchant Cash Advances” or “MCAs.” MCAs are not loans or extensions of credit, but rather “true sales” of a merchant’s unborn card receivables regarding which CCMS bears the risk of loss. In an MCA transaction, MCAs have no set term, maturity date, or fixed or minimum payment amounts (and, therefore, no late fees or penalties). SMB owners are required to guarantee the performance of certain covenants in the MCA agreement, such as the SMB’s covenant to use the designated card processor exclusively. However, MCAs include no personal guarantee of “payment,” such as those associated with traditional loan financing. In the MCA agreement, SMB owners do not guarantee they will deliver the purchased receivables nor do they pledge personal collateral to secure such an obligation. Business Loans A small business loan is an amount of money borrowed by a SMB for the business or business purposes. A loan has a term and a maturity date. In describing CAN Capital or loan capabilities and how they serve the needs of SMBs, capital providers, payment processors, and others, the Site often speaks in terms of “lenders,” “loans,” “credit,” and other loan-related terminology. Many business loans obtained through CAN Capital (i.e., Term Loan and TrakLoan) are made by WebBank, member FDIC. WebBank and CAN Capital have an agreement where WebBank makes loans to qualifying applicants, and CAN Capital provides to WebBank, services in connection with loan applications. Through CCAS, CAN Capital also provides access to an Installment Loan product. The CAN Capital Installment Loan is not available in the following states: CT, DE, MI, MN, MT, ND, NV, NJ, NY, RI, SD, TN and VT; in California, those loans are made or arranged pursuant to a California Finance Lenders Law license by CAN Capital Asset Servicing, Inc. IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT: To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.