Press Release December 10, 2013
New York, NY – Capital Access Network, the largest and most-experienced small business finance specialist, has changed its name to CAN Capital (www.cancapital.com), effective immediately. Other brands”including AdvanceMe, Inc. (AMI), NewLogic Business Loans, Inc. (NLBL), and CapTap”are now also consolidated under a single online portal with a unifying brand name and a cohesive corporate identity. The company’s mission, however, is still the same: to provide small to medium-sized businesses with access to the capital they need to succeed and grow. The company has helped small business owners access over $3 billion in capital since 1998, and is expected to reach $800 million in transactions by the end of 2013.
We wanted the refreshed brand identity to capture our entrepreneurial spirit, and to resonate with small business owners, said James Mendelsohn, Chief Marketing Officer of CAN Capital. It is intuitive and straight-forward, and our credibility in the industry is clear. From the easy-to-navigate, resource-rich website to our brand promise of providing quick and easy access to funding, we are confident that the rebrand will speak to business owners, potential lending partners, investors and employees.
The rebrand is a strategic next step for a company that has seen significant growth over the past 15 years, and will help position CAN Capital for continued success in the alternative finance space.
Chief Executive Officer Dan DeMeo adds, We continue to innovate our products and capabilities to drive new growth. This one-brand approach is an extension of that, an investment in brand awareness that will increase recognition among merchants and the broader market.
The new brand characteristics include a color scheme of royal purple and ocean blue and are meant to reflect the company’s position as a savvy, down-to-earth, and optimistic partner. The website”with a host of information for business owners and partners”highlights key products, provides tips and industry insights via a blog and includes tools such as a Business Loan Calculator, which can help business owners evaluate how much they can reasonably borrow and pay back. Audiences can also engage with CAN Capital on its revamped social media channels including Facebook and Twitter pages.
CAN Capital (formerly Capital Access Network) is the largest, most experienced company providing small businesses with access to alternative capital. CAN Capital uses innovative and proprietary risk models combined with daily performance data to evaluate business performance. Its business evaluation model allows it to facilitate capital for entrepreneurs and help them qualify for more money than they could obtain elsewhere. Since 1998, thousands of small businesses in over 650 industries have chosen CAN Capital to obtain easy access to the funding that they need. CAN Capital grew its revenue 49 percent between 2009-2012 and it operates profitably with a $460 million line of credit from a syndicate of leading banks, including Goldman Sachs, Wells Fargo Capital Finance LLC, Capital One, Fifth Third Bancorp, Brown Brothers Harriman, Key Equipment Finance, Amalgamated Bank, Regions Bank, Capital Source and AloStar as well as equity capital from Accel Partners.
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.
Cristina Martinez, Josette Robinson
(212) 279-3115 x215; x212