Press Release May 29, 2013
New York, NY “ May 29, 2013 “ Capital Access Network Inc. (CAN), the largest and most-experienced small business finance specialist, was named a Finalist in the Company of the Year – Financial Services category in The 2013 American Business Awards, and will ultimately be a Gold, Silver, or Bronze StevieÂ® Award winner in the program.
The American Business Awards are the nation’s premier business awards program. All organizations operating in the U.S.A. are eligible to submit nominations “ public and private, for-profit and non-profit, large and small.
The American Business Awards will be presented at two awards events: the ABA’s traditional banquet on Monday, June 17 “ in Chicago for the first time, after 10 years in New York; and the new product & technology awards event on Monday, September 16 in San Francisco.
More than 3,200 nominations from organizations of all sizes and in virtually every industry were submitted this year for consideration in a wide range of categories, including Most Innovative Company of the Year, Management Team of the Year, Best New Product or Service of the Year, Corporate Social Responsibility Program of the Year, and Executive of the Year, among others.
Capital Access Network has developed an award-winning technology platform and proprietary algorithms that are proven to be highly predictive of actual small business risk and performance. Its risk models evaluate a multitude of business performance variables by integrating daily data from firmographic, banking and credit card processing sources. Capital Access Network’s proprietary technology and underwriting techniques were developed in tandem with CAN’s invention of daily cycle collection (daily remittance). This approach, and its experience across the spectrum of industry categories, gives Capital Access Network deep insights into the inner workings of small businesses and enables it to provide access to capital based on business performance rather than the personal credit scores of the business owners.
CAN offers small businesses access to multiple finance choices, including small business loans and flexible funding products. This powerful combination of big data analytics and multiple product offerings allows the company to help small businesses in need of $150,000 or less, including those turned off from traditional bank loans due to cumbersome application processes and lengthy cycle times.
Capital Access Network is honored to be recognized as a finalist in the Company of the Year – Financial Services category. This achievement highlights our team’s dedication to being a champion for small businesses and celebrates our legacy of having provided small businesses with access to more than $3 billion in working capital over the past 15 years, said CEO Daniel DeMeo.
Finalists were chosen by more than 140 business professionals nationwide during preliminary judging in April and May. More than 150 members of 10 specialized judging committees will determine Stevie Award placements from among the Finalists during final judging, to take place May 13 – 24.
Capital Access Network, Inc. (CAN) is the largest and most-experienced finance specialist for small businesses. CAN’s Daily Remittance platform and proprietary risk models enable it to evaluate businesses based on their performance, resulting in increased access to capital. Through its subsidiaries, NewLogic Business Loans, Inc. and AdvanceMe, Inc., CAN has given small businesses access to more than $3 billion in working capital over the past 15 years. All business loans obtained through CapTap and NewLogic Business Loans are made by WebBank, a Utah-chartered Industrial Bank, Member FDIC.
Stevie Awards are conferred in four programs: The American Business Awards, The International Business Awards, the Stevie Awards for Women in Business, and the Stevie Awards for Sales & Customer Service. A fifth program, the Asia-Pacific Stevie Awards, will debut this year. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Sponsors and partners of The 2013 American Business Awards include the Business TalkRadio Network, Callidus Software, Citrix Online, Dynamic Research Corporation, Experian, John Hancock Funds, LifeLock, PetRays, and SoftPro.