NEW YORK, Aug. 19, 2015 /PRNewswire/ – CAN Capital, the market share leader in alternative small business finance, has made the Inc. 5000 list of the fastest-growing private companies in America for the third year in a row. With 17 years in business, the company continues to see significant yearly growth and profitability while remaining committed to its core business of providing small businesses with fast, efficient access to working capital.
“We’re honored to be recognized as part of the Inc. 5000 once again,” said Daniel DeMeo, Chief Executive Officer, CAN Capital. “This year, we hit the milestone of providing small businesses with access to more than $5 billion of working capital, more than any other company in the space. This speaks to the power of our extensive experience, our unique proprietary data-driven models and our customer-focused technologies, all of which are used to meet the larger goal of helping small businesses succeed.”
This past year, CAN Capital announced a number of significant achievements. In April, the company secured a $650 million credit facility from a dozen leading lenders to expand and accelerate the growth of its small business finance programs. CAN Capital also closed its first capital markets asset-backed notes offering in a $200 million securitization transaction, selling $191 million of fixed rate notes, $171 million of which were rated “A” by both DBRS and Standard & Poor’s. In addition, the company’s CAN Connect™ suite of Application Program Interfaces (APIs) that enable third parties to offer their small business customers access to working capital, continues to expand with announced partnerships with Yodlee and Worldpay.
To date, CAN Capital has facilitated over 160,000 small business fundings in more than 540 unique industries. CAN Capital’s customer base continues to expand and its digital business grew 600 percent in 2014. During the past five years, CAN Capital has experienced significant growth, including a 29% originations CAGR and a 24% revenue CAGR, with commensurate growth in earnings.
“It’s an exciting time to be in the alternative finance industry with new attention being paid to the space. Ever since it was started 17 years ago by a small business owner, CAN Capital has been the innovator in the industry and we’re committed to maintaining our spot as market-share leader,” added DeMeo.
Inc. has been celebrating the fastest-growing private companies in America with its annual list for the past 33 years.
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About CAN Capital
CAN Capital, Inc., established in 1998, is the pioneer and market share leader in alternative small business finance, having provided access to $5.0 billion in capital for thousands of small businesses in a wide range of locations and different business types.
As a technology-powered financial services provider, CAN Capital uses innovative and proprietary risk models combined with daily performance data to evaluate business performance and facilitate access to capital for entrepreneurs in a fast and efficient way.
CAN Capital, an Inc. 5000 fastest-growing company, makes capital available to businesses through its subsidiaries: Merchant Cash Advances by CAN Capital Merchant Services, Inc., and business loans through CAN Capital Asset Servicing, Inc. (CCAS). Business loans obtained through CCAS are made by WebBank, a Utah-chartered Industrial Bank, member FDIC.
SOURCE CAN Capital, Inc.