Small business financing company CAN Capital has surpassed the $6 billion mark in working capital provision to more than 70,000 small business owners. More than 170,000 fundings have taken place.
Over the past five years CAN Capital’s transaction count has increased by 29 percent (CAGR) and revenue by 24 percent (CAGR).
Part of that growth can be attributed to two new products. TrakLoan calculates daily repayments based on payment card sales volume. A monthly installment loan product comes with longer terms and higher transaction sizes.
“Eight years after the financial crisis, many small businesses still have trouble accessing working capital.”CAN Capital CEO Dan DeMeo said. “We are committed to using technology to offer a variety of fast, efficient financial solutions for the full spectrum of small businesses, including those that are too small to get capital from other types of financial organizations, and those for whom a traditional bank product doesn’t fit.
“Small businesses are the engine of America’s economy and we are proud to support their growth.”