Quantcast
ISO - Vendor Briefs

Capital Access Network Expands Funding Capacity

Print
Email
Reprints
Twitter
LinkedIn
Facebook
Google+

Capital Access Network Inc. is expanding its annual funding capacity to $1 billion.

The added funding comes through updated financing agreements with Wells Fargo, Brown Brothers, Fifth Third Bancorp and Key Bank, Capital Access said in an Oct. 1 press release.

Goldman Sachs also has formed a relationship with Capital Access, increasing its secured line of credit to $295 million (expandable up to $400 million), the release said.

Capital Access provides funding through independent sales organizations to small and medium-sized businesses. Its Newlogic subsidiary makes loans with predetermined maturity dates and payments amounts, and its AdvanceMe subsidiary offers merchant cash advances, which merchants pay back as a percentage of payment card receivables.

 

SEE MORE IN

RELATED TAGS

Written to help ISOs and agents make the most effective use of their time in the field, each issue is filled with strategies, selling tips & tactics, new market opportunities and other vital information for POS and ATM sales success. Sign up today >
Download the PDF
This issue contains the biggest-ever edition of the annual Fact Book. We hope you find it useful. We also check in with Steve Eazell, outgoing president of the Western States Acquirers Association, and Dan Geraty, CEO of Clearent. We even attempt to satisfy our curiousity about when mobile payments will take hold with consumers and why the U.S. seems to resist chip-and-pin.
Already a subscriber? Log in here
Please note you must now log in with your email address and password.