|By Business Wire||
|October 23, 2012 10:31 AM EDT||
Capital Access Network’s CEO Glenn Goldman is scheduled to speak at the Money2020 Expo in Las Vegas on Oct. 23 as part of a panel focused on innovative and emerging financial services for small businesses. Small businesses across the country have weathered economic challenges in recent years, including a lack of access to much-needed working capital to help them grow. Yesterday’s methods are not solving the needs of today’s small businesses. New approaches are opening up additional opportunities to serve this segment, and CAN is at the forefront.
CAN’s award winning technology platform automatically evaluates a multitude of performance variables by integrating big data from 3rd party sources with CAN’s proprietary models built from over 100,000 financial transactions. This enables CAN to have unparalleled insight into the strength of the business and provide access to capital based on business performance rather than personal credit scores of the business owners. CAN is on target to power the small business community with access to approximately $600 million in capital in 2012, a record year for the 14-year-old company.
Moderated by Nick Holland, a principal analyst at the Yankee Group, the panel will examine new avenues in business lending and provide analysis of industry trends. Leveraging CAN’s deep experience in providing small businesses with access to over $2.5 billion in working capital, Goldman will provide expert insights into new and innovative methods enabling businesses to access the capital they need.
“Small businesses need capital. There are new solutions to this problem. I look forward to sharing insights into the dynamic shift occurring in the financial services industry today with influencers that can change the speed of adoption of these alternatives to the benefit of the small business community,” said Glenn Goldman, CEO of Capital Access Network. “Traditional lending models are not meeting the capital needs of cash flow sensitive small businesses. Data and technology are changing the game, positively affecting how businesses can be evaluates based on their performance, not just their owners’ credit scores. It’s an exciting time to discuss the latest trends that will better serve the capital needs of the small business market.”
|Glenn Goldman, CEO, Capital Access Network|
|Panel Discussion: “Borrowing & Credit: Sophisticated propositions for resource-constrained businesses”|
|Tuesday, Oct. 23 at 11 a.m. PT|
|Money2020, The Aria Resort & Casino, Las Vegas|
In its inaugural year, Money2020 (www.money2020.com) is a groundbreaking event for the emerging payments and financial services community. The event brings together experts and innovators in the industry focused on all aspects of the way consumers and businesses use money today, as well as how they will use it in the future.
About Capital Access Network, Inc.
Since 1998, Capital Access Network, Inc. (CAN) has provided small businesses access to $2.5B in working capital through its subsidiaries, NewLogic Business Loans, Inc. and AdvanceMe, Inc. CAN’s award winning technology platform automatically evaluates a multitude of business performance variables by integrating big data from firmographic, banking, and credit card processing sources with proprietary risk models built from over 100,000 transactions over multiple business cycles in over 650 SIC codes. This enables CAN to have unparalleled insight into the strength of the business and provide access to capital based on business performance rather than personal credit scores of the business owners. CAN also supports small business finance providers desiring more finance options for their own customers in the U.S. and internationally. All business loans obtained through NewLogic Business Loans are made by WebBank, a Utah-chartered Industrial Bank, Member FDIC.