New York, New York (PRWEB) April 17, 2012
Capital Access Network, Inc. (CAN), the small business alternative finance leader and parent company of AdvanceMe, Inc. (AdvanceMe) and NewLogic Business Loans, Inc.(NewLogic), will be showcasing the company’s online momentum over the past year at this year’s Electronic Transaction Association (ETA) annual meeting in Las Vegas. The company’s “Get Powered” theme embodies its continued focus on the Independent Sales Organization (ISO)/broker community, as it seeks ways to enhance the value proposition and earning potential of partners. CAN, through its subsidiaries AdvanceMe and NewLogic, continues to empower partners with an expanded suite of capabilities, products and tools that will serve a larger variety of merchants including online, traditional brick and mortar, and hybrid businesses.
Recently, growth of online businesses has accelerated. In early 2012, the U.S. Commerce Department released a report announcing that U.S. e-commerce sales totaled $194.3 billion in 2011, up 16.1 percent from $167.3 billion in 2010. “Small businesses need capital, and ISOs need products that will say ’yes’ to more of them. The amount of e-commerce business is increasing every day at a rapid rate and we want to be sure our ISOs are equipped with alternative finance products to serve them, as well as traditional brick and mortar businesses,” states Glenn Goldman, CEO of CAN. “Plus, more traditional brick and mortar businesses are finding ways to sell online to expand their reach and revenue potential. In order to better meet the needs of this growing segment and the ISOs that serve it, NewLogic and AdvanceMe have expanded the range of SIC codes that they serve. Our ISOs can now serve a wider variety of businesses. We invite ISOs to visit our booth at the ETA to find out more.”
In addition to online merchants, small businesses in industries that have been previously underserved will now have greater access to capital. Enhancements to its models and analytical engines have enabled risk assessment of more business types, and the company can now project risk in businesses that do not accept credit cards as a form of payment.
CAN and its subsidiaries constitute the largest, non-bank alternative capital provider to small businesses in the U.S. The company uses its own real-time platform and risk scoring models to provide loans through NewLogic, and Merchant Cash Advances through AdvanceMe, to small and medium sized businesses (SMBs) in the U.S. Over $2.5 billion in capital has been provided to date, to SMBs in 650+ SIC codes, in roughly 100,000 distinct transactions. CAN’s systems and platform have also been deployed by third party finance providers in the Caribbean Basin and in Latin America.
CAN and its subsidiaries also offer the ISO/broker community valuable resources to keep them up-to-date with industry happenings and trends. CAN’s Data Services Division distributes a quarterly Small Business Credit Sales Report examining same store trends related to credit and debit card sales. The company’s Small Business Barometer surveys and reports data on topics that reflect perceptions and experiences of Main Street businesses. In addition, AdvanceMe publishes white papers and provides eBooks on a range of topics of interest to ISOs and their merchants, providing one of the more robust resources in the industry.
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 to mid-sized brick and mortar and online businesses 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.