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Capital Access Network Inc. President and Chief Executive Officer Glenn Goldman Named Ernst & Young Entrepreneur Of The Year(R) 2009 Award Winner in Metro New York
Award Recognizes Entrepreneurial Excellence in Financial Services Category
| Source: AdvanceMe, Inc.
ATLANTA, GA--(Marketwire - July 7, 2009) - Capital Access Network Inc. (CAN), parent
company of AdvanceMe Inc., the nation's leading provider of Merchant Cash
Advances, today announced that Glenn Goldman, President and Chief Executive
Officer, received the Ernst & Young Entrepreneur Of The Year® 2009 Award
in the Financial Services category in Metro New York Area. According to
Ernst & Young LLP, the award recognizes outstanding entrepreneurs who are
building and leading dynamic, growing businesses. Goldman was selected by
an independent panel of judges, and the award was presented at a gala event
at the Marriot Marquis, Times Square, NY on Thursday, June 25th, 2009.
CAN is a premier provider of working capital solutions to small and
mid-sized businesses through its wholly owned subsidiaries, including
AdvanceMe Inc. Under Goldman's leadership, the company is revolutionizing
the way small businesses access working capital. AdvanceMe provides
funding to small businesses quickly and easily, employing its proprietary
risk scoring models to focus more on the strength and historical
performance of the business rather than relying on the personal records and
indicators of the business owner. AdvanceMe funds merchants by purchasing
future credit and debit card receivables at a discount. Through
arrangements with many of the nation's leading merchant processors,
AdvanceMe automatically retrieves a fixed percentage of each credit card
sale rather than fixed payment amounts. Goldman and his companies are
driving success by providing clients with the fastest, most flexible access
to working capital in a more cashflow friendly way. Small business types
served include merchants in the restaurant, hospitality, retail,
franchisees and professional service practices.
Since its inception, AdvanceMe has provided nearly $1.5 billion in working
capital to more than 25,000 businesses across all 50 states encompassing
more than 500 industrial codes. Its customers rely on funding from
AdvanceMe to manage and build their businesses without its owners having to
pledge personal collateral or being subject to mortgage liens associated
with loans. Three out of four eligible businesses choose to do business
with AdvanceMe again.
"We built this company on the premise that more businesses deserved working
capital, and that a different decisioning model could enable us to empower
them with capital without requiring business owners to potentially
sacrifice their homes, personal credit ratings and other assets to access
the working capital they need to keep their business on track," said
Goldman. "Small businesses are the cornerstone of this country and will be
instrumental in the improvement of our current economy. We are dedicated to
the success of this hard working group," continued Goldman. "Receiving this
award is a testament to the effort, passion and dedication that our team
puts forth on a daily basis in the service of our customers. I am honored
to receive this prestigious award and to share it with the wonderful group
of people that make up this company."
The Ernst & Young Entrepreneur Of The Year awards celebrate their 23rd
anniversary this year. The program honors entrepreneurs who have
demonstrated exceptionality in such areas as innovation, financial
performance and personal commitment to their businesses and communities.
"We are proud to recognize the achievements of Mr. Goldman," said Jodi
Burns, Ernst & Young LLP Entrepreneur Of The Year Program Director for
Metro New York. "Winners of the Entrepreneur Of The Year award build
leading businesses and contribute significantly to the strength of our
region's economy. Their success helps our area grow stronger."
As a Metro New York award winner, Goldman is now eligible for consideration
for the Ernst & Young LLP Entrepreneur Of The Year 2009 national program.
Award winners in several national categories, as well as the overall
national Ernst & Young Entrepreneur Of The Year award winner, will be
announced at the annual awards gala in Palm Springs, California on November
14, 2009. The awards are the culminating event of the Ernst & Young
Strategic Growth Forum, the nation's most prestigious gathering of
high-growth, market-leading companies.
Sponsors
Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year
awards are pleased to have the Ewing Marion Kauffman Foundation and SAP
America as national sponsors.
In Metro New York, local sponsors include Platinum Sponsors HSBC, Scherzer
International and Vintage Filings, Gold Sponsor Curran & Connors and Silver
Sponsors Solomon Edwards, WilmerHale and WithumSmith+Brown.
About Capital Access Network Inc.
Capital Access Network Inc. (CAN) is a premier provider of financial
solutions to small and mid-sized businesses through its subsidiaries,
AdvanceMe Inc. and PredictiFund Inc. CAN is revolutionizing the way
businesses access working capital by providing capital quickly and focusing
on the strength of the business in its financial decisions. Founded in
1998, CAN and its subsidiaries currently employ more than 220 people in New
York, Georgia, Massachusetts and Costa Rica. For more information, please
visit www.CapitalAccessNetwork.com.
About Ernst & Young's Entrepreneur Of The Year® Awards Program
Ernst & Young's Entrepreneur Of The Year® Award is the world's most
prestigious business award for entrepreneurs. The award makes a difference
through the way it encourages entrepreneurial activity among those with
potential and recognizes the contribution of people who inspire others with
their vision, leadership and achievement. As the first and only truly
global award of its kind, the Ernst & Young Entrepreneur Of The Year®
award celebrates those who are building and leading successful, growing and
dynamic businesses, recognizing them through regional, national and global
awards programs in more than 135 cities in 50 countries.