CEO Glenn Goldman Named Ernst and Young Entrepreneur Of The Year 2009 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
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