[MCAVeteran]

Anyone know what happened to advancemes website? It looks like they have rolled up everything into their new nAme and site CAN Capital

[Sean Cash]

Anyone know what happened to advancemes website? It looks like they have rolled up everything into their new nAme and site CAN Capital

It almost looks like their site was hacked lol. CAN Capital? I remember a few months ago they said AdvanceMe was now Cap Tap. Now they are CAN Capital?

On another note, their homepage says: $800 Million in funding projected for 2013.

[Sean Cash]

Wait so it looks like Capital Access Network itself is going through a rebrand, but why redirect AdvanceMe's site to CAN Capital?

"CAN Capital makes capital available to businesses through its subsidiaries: Merchant Cash Advances by AdvanceMe, Inc. (AMI), and business loans through NewLogic Business Loans, Inc. (NLBL). All business loans obtained through NLBL are made by WebBank, a Utah-chartered Industrial Bank, member FDIC. ©2013 CAN Capital. All rights reserved."

[MCAVeteran]

No clue- their ami site had a partner login section to see deals if the site is down or gone not sure if that's being rebuilt on new site

[Sean Cash]

So is WebBank like the only bank in this business?

[MCAVeteran]

They are behind dell financial, bill me later, new logic , lending club , etc- appears they allow several to use it's charter to do lending -they aren't the only ones- ARF has diff ones the main difference is that at ARF, the banks hold on to the loan vs selling it back- this could lead to other banks eyeing the bz though if enough fees are beig earned for doing this setup-

[Sean Cash]

And it's official.... http://www.reuters.com/article/2013/...00+BSW20131210

[Scott Williams]

I don’t get it. You spend 15 years building up the brand name Advance Me and then just dump it? You switch to some general basic name of Can Cap. It doesn’t make sense to me.

[cashguy]

It actually does make sense they have all these various brands going in different directions. This centralized one brand where the company evolved to today.

[Scott Williams]

I see what you are saying but I feel like it would work with AMI or maybe two names. Advance Me & New Logic. Merchant's have heard of Advance Me for 15 years. Then they switched all their email addresses to capital access network. Now, they switched them all again to can cap. Why not just go back to the name Advance Me and maybe drop the name New Logic. Just say Advance Me offers MCA and loan products.

[CO1]

Because Advance Me, has a bad rep. in my opinion. Whomever I talked to from AdvanceMes old ucc they either had a great experience or a horrible one. And most of the time horrible, advanceme opened a lot of doors but yet at the same time closed doors for future people to be able to do anything.

[GoodCustomerService]

That's the same thing every merchant says about every company they've worked with. Some have great experiences, some have terrible ones. I find that most of the merchants that had terrible experiences were terrible merchants. Advance Me has the strongest name in the industry. Their reputation in the industry is pretty stellar. I like the new digs. A one stop shop for funding.

[CO1]

Thats not true. MCC Clients love MCC. Snap Clients love Snap. But I understand what you mean by there rep. Is pretty stellar. On campaigns that we run they ask us is this advanceme or new logic.

[MCAVeteran]

This makes sense now- rebranding has been done by several companies to position themselves for growth. It looks like the mission is the same- I think we will be seeing a lot more innovation come from this company.

http://finance.yahoo.com/news/capita...134500862.html

[MCA Pioneer]

As a former Director at Advanceme and one who started with them when their office was smaller than a 7-11.... it isn't the company it used to be ... for sure.

[CO1]

My question to Mr.Robert W. Gaskin "As a former Director at Advanceme and one who started with them " why is it that you would leave to such a company with great strength an power to settle into a partner position while AdvanceMe is the biggest an badass companies out there to become a funder and or an ISO, this might be a bit personal but I just find it interesting that a Director of a company with such magnitude. while in a meeting with them, i remember that they want to open "branch" like offices All throw out major cities in the country .

[Sean Cash]

they just got another $33 million but apparently they didn't need it....

"Accel Partner and board member Kevin Efrusy, who calls CAN Capital “the best-kept secret in the emerging financial innovation boom,” tells us the company is profitable and actually doesn’t need the money. This round was about VCs wanting to put more money into a fast-growing company that could potentially IPO."

http://techcrunch.com/2014/01/08/can...rking-capital/

[Eric S]

They are attempting to consolidate the AMI and NL divisions into one.

The UCC count per state and per bank speak for themselves.

[MCAVeteran]

From what I hear- solely based on uccs , they own a projected 50-80 perc of market share

[Eric S]

That's pretty close. The distance between them and 2nd place is huge and it's even bigger between number 2 and 3. Everyone besides # 1 and 2 are puny.

[Chambo]

Based on UCC filing, who is #2?

[Eric S]

If you're a veteran as your profile shows, you should already know.

[isaacdstern]

I think Chambo was in MCA before most of us were born

[Chambo]

gee, thanks...shots fired

[GoodCustomerService]

Or before most of us could legally drink.