FinovateEurope 2011

FinovateEurope 2011 will be held in London on February 1, 2011. This conference series will bring together many “cutting-edge financial and banking technology innovations from and for the European market.”

See FinovateEurope 2011 website, http://www.finovate.com/europe2011/

Like FinovateFall 2010, it will feature many demos from the top executives of financial technology companies.

The list of Reasons to attend FinovateEurope 2011, include:

• Getting an edge on the competition
• Innovative companies will “Not only will they inspire you, but they will also help you compete.”
• Beneficial fast-paced demos and networking sessions

For a list of presenters at FinovateEurope 2011, http://www.finovate.com/europe2011/presenters.html

Capital Access Network, Inc. (CAN) introduced the concept of Daily Remittance and their Daily Remittance Platform™ or DRP at FinovateFall in New York and will demonstrate DRP’s integrating functionality, daily amortization and daily accounting module and its international fluency at FinovateEurope.

See FinovateFall Video of CAN Demo, http://www.capitalaccessnetwork.com/viewvideo/finovate

For finance providers, DRP allows underwriting based on actual performance of similar businesses, rather than merely typical bureau reports and credit scores such as FICO (in the U.S).

For Small and mid-sized businesses, or “SMBs”, Daily Remittance aligns the finance provider’s desire to manage risk with intra-month reductions of the SMB’s account balance with the SMB’s desire to align remittances more closely with cash flows experienced within its business.

CAN is the parent company of AdvanceMe, Inc. (AMI), a leading Merchant Cash Advance (MCA) provider, and NewLogic Business Loans, Inc. (NewLogic), a “Main Street” business loan provider. Both AMI and NewLogic utilize CAN’s DRP. For Merchants considering a MCA that aligns remittances more closely with their business' cash flows, consider doing business with AMI. For Merchants considering a business loan that offers a “Mini-Payment” feature that helps SMB cash flow by creating smaller, more frequent payments instead of one lump sum monthly payment, consider NewLogic.

Useful links:

See FinovateFall 2010 website, http://finovate.com/fall2010/

See CAN daily remittance section, http://www.capitalaccessnetwork.com/dailyremittance.html

See Advanceme’s website, http://www.advanceme.com/

See NewLogic’s website, http://www.newlogicbusinessloans.com/

Introducing NewLogic Business Loans

In November of 2010, our parent company Capital Access Network, Inc. (CAN) proudly announced that it will make loans available to small and mid-sized businesses (SMBs) through its subsidiary, NewLogic Business Loans, Inc.

Quoted from a recent CAN press release:

“NewLogic loans bridge the gap between alternative funding products and bank financing, integrating the speed and flexibility of non-traditional working capital options with many of the structures of other commercial loans. Loans will be offered with a pre-set monthly payment amount and fixed maturity date, but with unique features. Qualified borrowers can choose between payment plans; either a structure with flexible, daily payment amounts designed to help SMBs better manage the ebbs and flows of payment card sales in an unpredictable economic environment, or one with fixed payment amounts designed for those who prefer the predictability of fixed payments while still avoiding the one, large, monthly lump sum payment that often strains SMB cash flow management.

NewLogic will employ CAN FinTech Group's Daily Remittance Platform™ (DRP) to handle its transactions. DRP moves beyond simple credit score-based underwriting, which CAN has not found to be predictive of business performance. DRP relies more heavily on recent card sales in its approval process, thereby improving risk decisioning and expanding the delivery of capital to more SMBs. This platform also enables the integration of processing and the provision of capital, providing new, flexible payment options to SMBs, and risk management benefits to capital providers who will now see sales income streams via the business' credit card processing settlements daily.

Mini-Payments

The “Mini-Payment” feature of NewLogic loans helps SMB cash flow by creating smaller, more frequent payments instead of one lump sum monthly payment. SMBs can choose one of two “Mini-Payment” plans: 

• Processor Powered Payment Plan - allows SMBs to make loan payments through their credit card processors in amounts that vary with their card sales volumes -- providing an option to owners who are uncomfortable with a fixed, daily payment amount.
• Weekday Fixed Payment Plan - permits SMBs to make automatic payments with fixed amounts each weekday through the Automated Clearing House system - providing an option to owners who prefer the consistency of pre-set, daily payment amounts. 

Another key feature of NewLogic loans is the quick turn-around on loan approval decisions. The application is evaluated in hours, rather than weeks. Plus, the approval decision is primarily based on the history and performance of the business, rather than the business owner's personal credit.”

Unique in features and flexibility, NewLogic business loans are another great way for “Main Street” businesses to handle working capital needs and remain in control.

You can learn more about this exciting new option in small business financing by visiting www.NewLogicBusinessLoans.com.