(PRWEB) March 29, 2012
According to the U.S. Small Business Administration, half of all Americans are employed by a small business. In honor of National Mom and Pop Business Day on Thursday, March 29, Capital Access Network, Inc. (CAN), a next-generation small business finance technology provider and parent company of AdvanceMe, Inc. and NewLogic Business Loans, Inc., reiterates its dedication to educating small businesses on alternative ways to obtain working capital.
In today’s volatile economy, there is an unmet demand for small business capital, as evidenced by the outcry of small business owners and an increase in non-bank alternatives. According to an April 2011 Wall Street Journal report, despite small business lending showing some signs of rebounding, approval rates for small businesses seeking lines of credit dropped from 69 percent to 55 percent indicating that “demand may be up, but not necessarily from borrowers the banks deemed qualified.” Capital Access Network recognizes the gap and has developed solutions to help small businesses of all types succeed.
For more than a decade, CAN has been developing ways to make it easier for small businesses to receive working capital. CAN’s two wholly-owned subsidiaries have provided $2.5 billion in more than 80,000 transactions to date. NewLogic Business Loans, Inc., which launched in 2010, bridges the gap between alternative funding products and bank financing by integrating the speed and flexibility of non-traditional working capital products with fixed payment amounts and a maturity date. The Daily Remittance feature minimizes impact to cash flow by allowing for automatic, smaller payments. The comparatively simple application and approval process starts online and can deliver funds in 5 business days or less. CAN’s other solution, AdvanceMe, Inc., which launched in 1998, offers Merchant Cash Advances which allow businesses to sell future credit card sales in exchange for working capital. The Daily Remittance feature of that product also minimizes impact on a business’ cash flow and the application and turnaround time are simple and quick. However, the Merchant Cash Advance product has the benefit of remittance amounts calculated as a percentage of card sales, so amounts remitted by the merchant ebb and flow with sales. An eBook entitled Merchant Cash Advance: The Road to Success”, is one of five issued by AdvanceMe to date.
“On days such as National Mom & Pop Business Day, we think it is especially important to recognize small businesses across the U.S. and to help them succeed. Whether your business has a physical location, is online only or a hybrid of the two, we want small business owners to know that options exist beyond bank loans,” says Glenn Goldman, CAN’s CEO. “We offer a variety of flexible solutions to address the individual needs of small businesses across a variety of industries.”
About Capital Access Network, Inc.
Capital Access Network, Inc. (CAN) is the leading provider of next generation “Daily Remittance” powered financial products and services for small and mid-sized businesses (brick and mortar and e-commerce) in the U.S., through its subsidiaries, and to SMB capital providers internationally. Daily Remittance financial products combine behavioral risk scoring and data driven risk management to enable the delivery of more capital to the right small businesses while decreasing provider risk. CAN and its subsidiaries offer transaction request and fulfillment capabilities through multiple channel options which can be white-labeled or co-branded, including online applications and unique web-based social resources, tools, data and information. Learn more at http://www.CapitalAccessNetwork.com, http://www.AdvanceMe.com and http://www.NewLogicBusinessLoans.com.