CAN Capital Closes New $287MM Facility from Varadero Capital

Fintech small business lender CAN Capital enhanced its capital capacity with a $287 million credit facility from Varadero Capital, a New York-based alternative asset manager.

Davidson Joins CAN Capital as CFO

Tom Davidson joined fintech lender CAN Capital as chief financial officer. Davidson brings 25 years of financial services experience to the company, including expertise in capital markets, securitization, treasury, investor relations and risk management.

Instant Funding, Seamless Customer Transactions Fintech Lenders Transform Small Business Lending

In the past decade, growth in financial technology has spawned a new generation of online lenders. These lenders use the latest technology to underwrite and finance small business loans. Customers can apply online and receive funding in 24 hours in some cases. ABF Journal Editor Nadine Bonner speaks with executives from three fintech companies that specialize in small business loans.

Fintech Lender Trade Associations Merge to Form ILPA

The Innovative Lending Platform Association (ILPA) and the Coalition for Responsible Business Finance (CRBF) are merging and will operate as the ILPA – the trade organization representing online lending and service companies serving small businesses.

WSJ: Online Lender CAN Capital Hires Advisors to Restore Business

The Wall Street Journal reported that online lender CAN Capital hired Jefferies to help revive its struggling business.

Bloomberg: CAN Capital Promotes Sanz to CEO, Gupta to COO

Bloomberg reported that fintech lender CAN Capital promoted Parris Sanz to acting CEO and Ritesh Gupta to COO while its current CEO, Dan DeMeo is on a leave of absence.

Small Business Owners Optimistic Despite Challenges

According to the Small Business Health Index from CAN Capital, 64% of small business owners anticipate growth despite concerns over access to capital, EMV chip enabled credit cards and the 2016 election.

Former Wells Fargo CMO Moloney Joins CAN Capital

CAN Capital named Chris Moloney chief marketing officer. Moloney previously spent four years as chief marketing officer for Wells Fargo Advisors.

CAN Capital Hits $5 Billion Milestone

CAN Capital said it has provided small businesses with access to more than $5 billion of working capital since it was established in 1998.

CAN Capital Secures $650MM from Wells-Led Group

Alternative small business finance company CAN Capital secured a $650 million credit facility from a group of lenders led by Wells Fargo Capital Finance.