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Capital Access Network, Inc. (CAN) has added $165 million to its line of credit from a syndicate of premier financial institutions, now including Capital One, Amalgamated Bank, Regions Bank, Capital Source and AloStar. These banks join Wells Fargo Capital Finance LLC, Goldman Sachs, Brown Brothers Harriman, Key Equipment Finance and Fifth Third Bancorp in the syndicate. The move increases Capital Access Network’s existing facility from $295 million to almost $500 million. This will expand Capital Access Network’s ability to help America’s small businesses get access to the working capital they need to operate and grow.

CAN has helped small businesses obtain access to more than $3 billion in working capital since 1998. Given this rich history, CAN has been able to provide more businesses access to working capital than its competition. Through this wider array of opportunities, CAN is better able to learn about the risk of a business, making it smarter and faster for future customers. The additional capacity will fuel the next phase of rapid growth at CAN. The company recently appointed Capital One co-founder Nigel Morris as the vice chairman of its Board of Directors. Also an investor, Morris will be taking an active role in the company. He brings unmatched expertise, having driven Capital One’s growth into the Fortune 500. He will work alongside Daniel DeMeo, Capital Access Network’s new Chief Executive Officer and former Chief Financial Officer, to accelerate the company’s growth.

“Capital Access Network is the genuine article. The company understands small businesses, its models are time-tested and proven, and it continues to generate significant profit, fueling growth and category innovation,” Vice Chairman Nigel Morris said. “Many deserving small businesses struggle to access the working capital they need to operate and grow. I’m excited to be part of a company that has the experience, resources and focus to help them.”

CAN offers small businesses access to multiple finance choices, including small business loans and flexible funding products. This powerful combination of “big data” analytics and multiple product offerings allows the company to help small businesses in need of $150,000 or less, including those turned off from traditional bank loans due to cumbersome application processes and lengthy cycle times.

“Small businesses can continue to rely on CAN as a working capital partner,” said CEO Daniel DeMeo. “Our strong business fundamentals enable us to firmly commit to serving this market. The expansion of our credit facility means we will maintain our category leadership position.”

Capital Access Network, Inc. (CAN) is the largest and most-experienced small business finance specialist for small businesses.

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