CAPITAL ACCESS NETWORK INC. PRESIDENT AND CHIEF EXECUTIVE OFFICER GLENN GOLDMAN NAMED ERNST & YOUNG ENTREPRENEUR OF THE YEAR 2009 AWARD WINNER IN METRO NEW YORK
Award Recognizes Entrepreneurial Excellence in Financial Services Category
ATLANTA - 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) serves the small business market through its wholly owned subsidiaries, including AdvanceMe, Inc., the leader in Merchant Cash Advances. CAN leverages leading edge data, systems and technology, married to a unique and highly effective collection methodology, to deliver innovative financial products and services geared to the small and mid-sized business markets. Founded in 1998 and headquartered in New York, CAN and its subsidiaries currently employ 300 people in four locations in New York, Georgia, Massachusetts and Costa Rica. CAN's Data Services Division was formed to provide predictive analytics, scoring and other risk management tools to help quantify, control or reduce the exposure of those providing capital or credit to small and mid-sized businesses and to improve the marketing efficiencies of those who target such businesses. CAN's Data Services Division draws upon the data gathered by CAN's subsidiaries through 11 years of collecting and analyzing the sales trends and firmographics of tens of thousands of businesses to which they have provided capital or purchased future credit card receivables. Learn more at 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.
