From photocopiers to trucking technology to equipment financing, Edward Siciliano has seemingly spent time selling a little bit of everything. And as the new CEO of CAN Capital, he’s looking for ways to apply his marketing background to the data-driven world of fintechs.
CAN Capital appointed Marlin Business Services veteran Edward J. Siciliano its chief executive officer. Siciliano brings over 30 years of experience in commercial financing, sales, marketing and operations to his new position.
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.
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.
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.
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.
The Wall Street Journal reported that online lender CAN Capital hired Jefferies to help revive its struggling business.
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.
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.