Press Release February 4, 2013
NEW YORK “ February 4, 2013 “ Capital Access Network (CAN), a next-generation small business finance provider, has launched its new online lending engine CapTap to connect America’s small businesses quickly to the loans they need to grow and thrive.
CapTap is powered by CAN’s award-winning technology platform and proprietary algorithms that are highly predictive of actual small business risk and performance. This wealth of meaningful data and experience, garnered over the past 14 years and the last three economic cycles, allows CapTap to give more small businesses access to capital when others can’t.
America’s small business owners are still struggling to make ends meet and grow because the traditional loan-making process is broken, said Glenn Goldman, CEO of Capital Access Network. Getting a loan these days requires a pristine personal credit score and significant personal collateral. The traditional process just wasn’t built to look at actual small business performance, which is a better indicator of loan-worthiness. That’s why CapTap considers more than 100 variables that really matter, ranging from daily cash and credit receipts to economic conditions. It’s also how CapTap can help more small businesses get the funding they need, when they need it, on flexible terms.
The CapTap Difference
Small businesses with quick-turn business opportunities or those that have been denied through the traditional lending process can quickly determine the size of the loan they may be qualified for by visiting www.captap.com.
CapTap uses the power of technology and data to connect America’s small businesses quickly to the loans that they need to grow. CapTap is powered by Capital Access Network’s (CAN) unmatched small business finance experience. CAN has given small businesses access to nearly $3 billion in funding over the past 14 years, and has provided access to nearly $550 million in capital to small businesses in 2012. All business loans obtained through CapTap are made by WebBank, a Utah-chartered Industrial Bank, member FDIC. Learn more at CapTap.com
About Capital Access Network
Since 1998, Capital Access Network, Inc. (CAN) has provided small businesses access to nearly $3 billion in working capital through its subsidiaries, NewLogic Business Loans, Inc. and AdvanceMe, Inc. CAN works with leading banks and financial institutions, including Wells Fargo Capital Finance, Goldman Sachs, Fifth Third, Key Equipment Finance, and Brown Brothers Harriman. CAN’s award-winning technology platform automatically evaluates a multitude of business performance variables by integrating big data from firmographic, banking, and credit card processing sources with proprietary risk models built from over 100,000 transactions over multiple business cycles in over 650 SIC codes. This enables CAN to have unparalleled insight into the strength of the business and provide access to capital based on business performance rather than personal credit scores of the business owners. CAN also supports small business finance providers desiring more finance options for their own customers in the U.S. and internationally. All business loans obtained through CapTap and NewLogic Business Loans are made by WebBank, a Utah-chartered Industrial Bank, Member FDIC. Learn more at CapitalAccessNetwork.com.
Allison+Partners for CapTap
Alexandra Gardell Kreuter
Allison+Partners for CapTap