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05/27/2021CAN Capital surpasses $7.5B funded
05/28/2020CAN Capital survey says SMBs confident
05/06/2020CAN Capital settles with SEC
03/04/2020CAN Capital is expanding to NJ
02/05/2020CAN Capital hires new CCO, General Counsel



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Company NamePhone numberUCC Alias 1Alias 2Alias 3Alias 4Alias 5
American Capital Advance 800-599-9158
Boca Capital Partners 800-801-6242 American Capital Advance
CAN Capital 866-700-6486 AdvanceMe Minglewood Services Sound Garden Rhino Services Birdsong Services
CAN Capital (continued) 866-700-6486 Capital Options LLC Aureolin Services APZB Industries VCE Enterprises




Stories

CAN Capital Brings On Edward Dietz as Chief Compliance Officer & General Counsel

February 5, 2020
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CAN Capital is continuing its executive hiring spree into 2020 with the news that it has brought on Edward Dietz as its latest Chief Compliance Officer and General Counsel. After providing legal expertise to Marlin Business Services Corporation for nine years and working as an associate for two law firms in Wisconsin and Pennsylvania previous to this, Dietz will oversee CAN’s compliance with all federal and state lending, banking, and securities laws.

“Having worked with Ed and knowing his skill set and the many intangibles that he brings to CAN, I feel fortunate that he’s leading our legal and compliance efforts,” noted CEO Edward Siciliano in a statement. “Ed’s just what we needed as we position CAN for growth and to lead a new era of small business lending.”

Having graduated from the University of Michigan Law School in 2004, Dietz has nearly two decades of legal experience.

Speaking on the news, Dietz said that he “could not be more excited to join a company and a team that believes so deeply that its people and its culture are the keys to harnessing the company’s growth potential.”

CAN Capital Announces New CCO

October 15, 2019
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We are proud to announce that we have hired David Lafferty as CAN Capital’s new Chief Credit Officer (CCO.) Lafferty brings his expertise in commercial lending, business development, operational planning and profit & loss management to the CAN Capital team.

Lafferty has over twenty years of proven experience providing financial services to small businesses. He is the former Vice President of Capital Markets and Credit and Risk Management at Marlin Business Bank. In that role, he has assisted small businesses in obtaining the capital they need to operate and grow, with a special focus on helping businesses finance the lease or purchase of equipment. Lafferty is a graduate of Pennsylvania State University, and a member of the Equipment Leasing and Financing Association (ELFA) Small Ticket Advisory Council.

“I have focused my entire career on serving the small business owner as they are the backbone of the United States economy. Being given the opportunity to join this team in a time when the company is experiencing rapid growth and gaining significant market share is extremely exciting. I am really looking forward to joining an already very talented workforce as we take CAN Capital to the next level,” said Lafferty.

Ed Siciliano, CAN’s CEO, had this to say about the new hire: “I’m very excited to welcome Dave to CAN Capital. He will be joining a strong group of talented people focused on Risk and Credit Underwriting and applying his deep experience in small business lending to calibrate CAN’s 20-year proven credit models. We all welcome Dave and feel fortunate to have him join.”

A Philadelphia native who now resides in New Jersey, Lafferty is the proud father of twin sons. When he isn’t helping small businesses succeed, you’ll find Lafferty golfing or riding motorcycles, or on the water boating and fishing in Punta Gorda Isles, Florida.

Please join us in welcoming new CCO David Lafferty, who, along with our dedicated group of CAN Capital team members, is ready to support our mission of helping every small business succeed.

About CAN Capital

CAN Capital, Inc., established in 1998, is the pioneer in alternative small business finance, having provided access to over $7 billion in capital for over 81,000 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, Inc. makes capital available to businesses through business loans made by WebBank, member FDIC, and through Merchant Cash Advances made by CAN Capital’s subsidiary CAN Capital Merchant Services, Inc. ©2019 CAN Capital. All rights reserved

Media Contact: Carey Kirk, 678-858-6911, ckirk@cancapital.com

CAN Capital Welcomes John McNeill, New Chief Financial Officer

July 23, 2019
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can capital logoKennesaw, GA — CAN Capital, a leading provider of small business working capital loans, is pleased to announce the hiring of John McNeill as its new Chief Financial Officer (CFO). McNeill brings to the company a deep expertise in corporate finance, accounting, treasury and a growth orientation well suited for CAN’s current expansion.

McNeill has been a mainstay in the Atlanta financial services industry. He joins CAN from Ocwen Financial Corporation where he served as Senior Vice President of Servicing Finance, Treasury and Investor Relations. Before that, he served as Vice President of Finance and Treasurer at Home Loan Servicing Solutions, and has also worked in various financial capacities at WestRock and KPMG. He earned his undergraduate degree at the University of Georgia, his MBA at the Goizueta Business School at Emory University, and is a CPA and CFA Charterholder.

“I am very excited to be joining the team and having the opportunity to help the company build on its recent momentum and, ultimately, capitalize on its growth potential,” said McNeill. “I admire CAN Capital’s long history of providing much needed capital to small businesses and look forward to working with our customers, partners, and team during the next chapter of its business expansion.”

CEO Edward J. Siciliano spoke about McNeill’s role in CAN’s promising future: “I’m excited to work with John and benefit from his experience as we establish CAN as the market leader in small business lending on a national scope” Siciliano added, “John’s the perfect fit to drive our corporate finance activities in the upcoming expansion years.”

The entire CAN Capital team welcomes John, who, along with our dedicated group of CAN Capital team members, is here to support our mission of helping every small business succeed.

CAN Capital Hired a New CFO: Here’s His Take On The Company

July 23, 2019
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cancapitalpurpleThe last 12 months have seen plenty of developments within the offices of CAN Capital. September witnessed the announcement of a new credit facility of $287 million with Varadero Capital. January brought news of the hiring of a new CEO. And now, completing the hat trick is CAN’s employment of John McNeill as its CFO.

Coming from years of experience in finance, with firms such as Ocwen Financial and Zume, McNeill is stepping into his role with an optimism normally reserved for those at the offset of a new business. Saying that due to recent restructuring, new hirings, and CAN’s re-evaluation of its position in the market over the previous two years, McNeill believes that the company “feels like it’s a nimble startup.” Albeit a startup that has been in the industry for over 20 years.

Founded in 1998 by a small business owner who struggled to be approved for a business loan, CAN has been cemented as a legacy figure within the alternative finance industry. Having persevered through the ’08 crash as well as other economic hiccups over the past two decades, CAN is uniquely positioned in that it has 20 years worth of experience and data, not to mention the personnel who have stuck around to become veterans as well, to guide them through the current moment of market saturation.

And it is the synergy between these two aspects of CAN, the new and the old, that initially drew McNeill to the company. The opportunity to work alongside people who have decades of experience in the market, as well as those who have only been there a few months longer than himself, led McNeill to view CAN as an anomaly, where it’s “like being the new guy, but with all of the tools of historical experience.”

This freshness tempered by lessons learned in the past is also attributed by McNeill to CAN’s CEO, Edward J. Siciliano, who’s worked in commercial financing, sales, marketing, and operations for over 30 years; and who has aimed to expand operations, both technologically and geographically, since his taking up of the role.

McNeill believes that there continues to be plenty of the market left to expand into, saying there’s “still a lot of opportunities to make money and to help secure funding for businesses across America.”

CAN Capital Hires Edward J. Siciliano as Chief Executive Officer

January 8, 2019
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Atlanta, GA (January 8, 2019) – CAN Capital, a technology-driven small business specialty finance company, today announced the appointment of Edward J. Siciliano as Chief Executive Officer. Siciliano brings over 30 years of experience in commercial financing, sales, marketing and operations.

Siciliano joins CAN Capital most recently from Marlin Business Services, a nationwide provider of commercial financing and depository products. While at Marlin, Siciliano served in roles including Chief Operating Officer, Interim Chief Executive Officer and EVP, and Chief Sales Officer. During that time, he was responsible for turning around Marlin post financial crisis by rebuilding the sales force, adding new products, improving operations, and driving optimal risk-adjusted returns for all segments, resulting in double-digit ROE and more than fivefold growth in originations.

After beginning his career at Xerox Corporation, Siciliano worked at Applied Theory Corporation as SVP of Sales and Marketing and at ALK Technologies, where he also led Sales and Marketing.

“Ed is a proven leader with deep industry knowledge and a strategist who is skilled at driving business growth,” said Gary Johnson, CAN Capital’s Executive Chairman. “Throughout his career, he has served the needs of small businesses while building loyal teams that deliver innovative products and a great customer experience. These skills will be invaluable as CAN Capital finds new ways to deliver on its mission of helping small businesses succeed.”

“It’s rare to have the opportunity to work with a company that is a pioneer in its space, yet has so much growth potential,” said Siciliano. “CAN Capital’s experience, brand recognition, data, and partner relationships make it uniquely positioned to support the expansion of the small businesses that drive the U.S. economy. I look forward to building a leadership team and working together to expand our offerings, invest in talent and technology, and help our customers grow.”

About CAN Capital

CAN Capital, Inc., established in 1998, is the pioneer in alternative small business finance, having provided access to over $7 billion in capital for over 81,000 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, Inc. makes capital available to businesses through business loans made by WebBank, member FDIC, and through Merchant Cash Advances made by CAN Capital’s subsidiary CAN Capital Merchant Services, Inc. ©2018 CAN Capital. All rights reserved.

Follow CAN Capital on LinkedIn, Twitter and Facebook.

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Meet CAN Capital’s New CEO

January 8, 2019
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Ed SicilianoCAN Capital announced this morning the appointment of Edward J. Siciliano as its new CEO.

“There is still a huge delta between the need for capital for small businesses and the capital that banks are willing to provide,” Siciliano said. “And this creates an enormous opportunity for CAN to expand its business.”

Siciliano comes to CAN Capital from the equipment finance and small business lending company Marlin Business Services, based in New Jersey. He worked there for a decade in several roles including Chief Operating Officer and Chief Sales Officer.

“Ed is a proven leader with deep industry knowledge and a strategist who is skilled at driving business growth,” said CAN Capital’s founder and Executive Chairman Gary Johnson. “Throughout his career, he has served the needs of small businesses while building loyal teams that deliver innovative products and a great customer experience.”

Siciliano is relocating from Princeton, NJ to live near CAN Capital’s headquarters in Kennesaw, GA, near Atlanta. In September 2018, the company announced that it would be moving its finance and executive functions to Kennesaw from New York City. A CAN Capital spokesperson at the time said that Parris Sanz, the former CEO, did not want to move to the Atlanta area for personal reasons. Now, Siciliano said that there is no longer a New York City office, but there is a roughly eight person finance team in White Plains, NY, that will eventually be moved to the Georgia headquarters.

“I really value the work that [Sanz] has done…and we’re going to stay the course out of the gate. However, I’ve been tasked with accelerating the business,” Siciliano said.

In this effort, Siciliano said he will continue to invest in technology, but will also focus on the small business customer rather than a specific product. Instead, Siciliano said that he would like to see CAN Capital expand its product offerings to serve more needs of small business customers.

He also said that he would like to expand the company’s referral partners beyond brokers to include other players such as manufacturers, attorneys and accountants.

For Siciliano, there are two key elements to focus on for any funding company. The first is credit, or underwriting.

“CAN is one of the very few fintechs that lived through 2008, the recession. You get information about your credit portfolio and your credit model in stressful times like that, that is invaluable…I feel like we have great credit models, which will constantly be enhanced and will always be a focus. Your credit model is the Achilles heel of any lending company.”

The other element that Siciliano focuses on is lowering customer acquisition costs. He said he wants to broaden product offerings to attract different and more partners who will, in turn, bring their small business customers to CAN Capital.

Currently, Siciliano said that the company originates $25-30 million a month and 95% of the business is providing working capital and business loans while the remaining 5% is merchant cash advance. CAN Capital works with brokers but also has an internal sales team. There are about 100 employees at the Kennesaw headquarters, including the company’s executive, marketing, and analytics teams. There is also a technology team of about 20 people located in Costa Rica and Siciliano said that the company works with business development people who work independently throughout the country.

Founded in 1998, CAN Capital has provided more than $7 billion to more than 81,000 small businesses.

CAN Capital To Bring its Executive Functions Back to Kennesaw

September 18, 2018
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CAN Capital Resumes FundingFor CAN Capital, the power is coming back to Kennesaw, GA.

Gary Johnson, CAN’s Executive Chairman, said “Today, CAN Capital announced it will be moving its finance and executive functions from New York to Kennesaw. The board believes this move will position CAN for increased efficiency and faster decision making as it continues to meet the growing needs of small businesses. As a result, CEO Parris Sanz and CFO Tom Davidson currently based in NY, will be transitioning out of their roles. CAN Capital recently crossed the $7 Billion milestone of providing access to capital to small businesses which includes almost $300 million over the past year. The company also secured a commitment from Varadero Capital for up to $287 million to augment its expansion initiatives and capital.”

A spokesperson from CAN confirmed that Sanz and Davidson did not want to move to the Atlanta-area headquarters for personal reasons and that the board is conducting a new search for a CEO. Sanz has been with the company since 2004, rising to the CEO position in November 2016.

Founded in 1998, CAN Capital is among the oldest alternative lending companies.

CAN Capital to Grow Team and Business with New Facility

September 5, 2018
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Parris Sanz , CAN CapitalCAN Capital CEO Parris Sanz at Broker Fair May 2018

CAN Capital announced today that it agreed to a financing transaction of up to $287 million, provided by Varadero Capital. This is CAN Capital’s second facility with Varadero Capital. The first one came in July 2017. This financing will be used to fund more small business loans and to invest in talent and technology to enhance customer experience. The company plans to grow the size of its team with this new facility.

“We look forward to utilizing this funding to expand our ability to provide access to capital for small businesses, enhance our technology stack, and continue to build a dedicated, customer-driven team,” said Parris Sanz, CEO of CAN Capital.

CAN Capital also announced today that it has now provided small businesses with access to over $7 billion of working capital through more than 190,000 funding transactions with over 81,000 small business owners.

“Reaching $7 billion in working capital is a significant milestone for us,” Sanz said. “We are excited to use our deep experience and data to enable even more small business owners to grow with streamlined access to capital.”

CAN Capital makes business loans from $2,500 to $250,000 that last between 6 and 18 months. And they provide merchant cash advance financing, also from $2,500 to $250,000. They also work with broker partners to fund deals.

Founded in 1998, CAN Capital is among the oldest alternative lending companies. After an issue plagued them in 2016, the continued growth and confidence in the company from Varadero Capital is noteworthy. The company is now growing when it was making layoffs less than two years ago. Currently, CAN Capital’s headcount is 142.

“Since our initial facility, we’ve been impressed by the work ethic and dedication of CAN Capital’s staff, which have driven consecutive quarters of business growth and boosted confidence in the company’s fundamentals,” said Fernando Guerrero, Managing Partner and Chief Investment Officer at Varadero Capital.



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