Merchant Cash Advance Company AdvanceMe Provides Two Billion Dollars to Small Businesses

ID: 44130

Supporting America's "Main Street" Businesses With Needed Working Capital

(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 08/09/11 -- AdvanceMe, Inc., the nation's leading provider of Merchant Cash Advances for small and mid-sized businesses, today announced that it has provided more than $2 billion in working capital to small and mid-sized businesses (SMBs). Founded in 1998, AdvanceMe reached the $1 billion funding mark in 2007. Reaching the $2 billion milestone took less than four years and the company is expected to reach the $3 billion mark within the next two years.

This accelerated growth is a result of several strategic initiatives, including the continued investment made in the underlying Daily Remittance Platform™ (DRP) of its parent company, Capital Access Network, Inc. DRP supports next generation risk scoring and portfolio management through the collection of actual daily revenue information of thousands of small business customers, feeding valuable information back into the models, improving scorecards and decisioning every day. The result: increased visibility into the portfolio, decreased risk and the ability to say "Yes" more often and for larger amounts.

Banks want to lend, but they appear to be hindered by their reliance on the same tools to score applications and service portfolios that have been used for decades. According to the Capital Access Network Spring 2011 edition of the , many small and mid-sized businesses still look to their banks first for working capital, but only 34 percent have actually obtained a collateral-based bank loan. As a result, more than one out of 10 SMBs seek more innovative options, including (), non-traditional loan providers, and peer to peer lenders and factors, many of whom now offer Daily Remittance products.

Additionally, other investments, including the development of national sales partnerships and alliances, an educational eBook series focused on subjects important to small business owners (), and inclusion of customized same-store sales data and similar-store benchmark data in its monthly customer statements, have all increased the value and availability of AdvanceMe® products to merchants.

"2008, 2009 and 2010 were not easy for U.S. merchants," said Glenn Goldman, CEO and President of Capital Access Network, Inc., parent company of AdvanceMe. "Our ability to provide one billion dollars of working capital to our merchants during those difficult years speaks to our confidence in the entrepreneurial spirit of U.S. small business owners," Goldman continued. "It is small businesses and the jobs they create that will bring us to full economic recovery, and we stand ready, willing and able to service them as they do."

Additional resources can be found on AdvanceMe's website, , on Facebook at or on Twitter at .

AdvanceMe, Inc. is the nation's leading provider of Merchant Cash Advances to small and mid-sized businesses. Since 1998, AdvanceMe has made over 80,000 fundings, providing almost 40,000 businesses in all 50 states with $2 billion in working capital. Owners use AdvanceMe capital to renovate, purchase new equipment and supplies, fund advertising, manage unexpected expenses and seasonal downturns and free themselves from second mortgage liens and personal guarantees associated with loans. For more information about AdvanceMe's innovative working capital solution, call toll-free 1-866-838-5097 or visit .

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Carrie Crabill
Trevelino/Keller
404-214-0722 Ext.102

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