Press Release November 4, 2014
New York, NY “ CAN Capital, Inc., the market share leader in alternative small business finance, has partnered with Yodlee, the cloud-based platform driving innovation in digital financial services, to offer fast, hassle-free access to funding through Yodlee’s Small Business solution.
CAN Capital is integrating with the Yodlee platform to deliver an integrated solution to financial institutions. CAN Capital’s CAN Connect suite of Application Program Interfaces (APIs) enable financial institutions the ability to offer their small business customers access to working capital. This technology seamlessly and securely provides users with a CAN Instant Quote for funding based solely on financial data and payment information.
Yodlee and CAN Capital are two organizations in the business of developing innovative, technology-powered financial tools that help small businesses grow in a smart and efficient way, said Daniel DeMeo, Chief Executive Officer of CAN Capital. Through CAN Connect, we can help partners like Yodlee increase their value to their financial institutions’ customers by allowing them timely access to needed capital.
The Yodlee Small Business solution gives small businesses access to the services they need “ via their primary financial institution – all in one secure place, via a portal where small businesses can tap into offerings such as cash flow forecasting, accounts receivables, expense management, payroll, business credit scoring, and more, within the online banking experience. Through its unique Active Commerce Exchange (ACE) 3rd party FinApp ecosystem, Yodlee has partnered with select small business brands to deliver unique functionality like debt management, new lending models, alternative credit scores, expense management and other value-add capabilities designed specifically to help small businesses grow.
We choose our partners very carefully, and it was clear from CAN Capital’s 16-year history as a pioneer and leader in the alternative finance space that it was the right option to add to our Small Business Portal solution, said Christine Loredo, Vice President of Programs and Partnerships at Yodlee Interactive. The flexibility of the Yodlee Platform makes it easy to add valuable new functionality, like CAN Capital’s technology based tools, to empower financial institutions with dynamic digital experiences for key customer segments like small businesses.
Access to CAN Capital’s funding sources will be available via Yodlee Small Business starting in Q1 2015.
About CAN Capital
CAN Capital, Inc., established in 1998, is the pioneer and market share leader in alternative small business finance, having provided access to over $4 billion in capital for tens of thousands of small businesses 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. Its business evaluation model allows it to help small businesses qualify for more money than they could obtain elsewhere.
CAN Capital makes capital available to businesses through its subsidiaries: Merchant Cash Advances by CAN Capital Merchant Services, Inc., and business loans through CAN Capital Asset Servicing, Inc. (CCAS). All business loans obtained through CCAS are made by WebBank, a Utah-chartered Industrial Bank, member FDIC.