AdvanceMe, Inc. Champions Ten Years in Merchant Cash Advance Industry

Wed Jun 18, 2008 9:01am EDT

* Reuters is not responsible for the content in this press release.

  ATLANTA, GA, Jun 18 (MARKET WIRE) -- 
AdvanceMe, Inc., the nation's leading provider of Merchant Cash Advances
(MCA), announces a major corporate milestone: ten successful years in a
now flourishing industry. The company was founded in 1998 by an
entrepreneur who envisioned a way of turning her future credit card sales
into working capital. The result was the Merchant Cash Advance product
that continues to help thousands of small business owners each day manage
their cash flow requirements.

    As the pioneer for the Merchant Cash Advance industry, AdvanceMe prides
itself on helping small business owners, many of whom are not served by
traditional financial institutions, meet their needs for working capital.
During the past decade, AdvanceMe has provided more than 20,000 business
owners with more than $1 billion in funding through its innovative product
offering.

    AdvanceMe's growth and longevity are testaments to its ability to supply
small businesses with the funds needed to sustain and expand their
businesses, providing fuel to the engine of the nation's economy and
stimulating economic development. Three out of four eligible customers
return for future fundings, evidence of AdvanceMe's superior processes
that incorporate 10 years of data gathering to support responsible
funding.

    AdvanceMe started with a handful of independent salespeople and has since
grown its distribution channels to include an in-house Telesales Team, a
nationwide Direct Sales Team of employees and Independent Sales
Organizations, a website (www.AdvanceMe.com) as well as National Sales
partners. These partners include some of the biggest and most respected
processors in the nation, including First Data, RBS Lynk, and others.
Employees of AdvanceMe and its affiliates now number more than 300 in six
offices -- Kennesaw, GA, Scarsdale, NY, Rome, GA, Rockland, MA,
Minneapolis, MN, and San Jose, Costa Rica.

    "We are thrilled to mark our tenth year serving the small business
community. Businesses continue to show the need for the Merchant Cash
Advance product. Requests for working capital are growing, especially with
tightening credit markets affecting the entire nation," explains Glenn
Goldman, chief executive officer of Capital Access Network, Inc., the
parent company of AdvanceMe. He continues: "AdvanceMe takes its
responsibility within the industry very seriously. We will continue to
assist businesses that possess solid business and management models with
access to the capital needed to thrive. And we will continue do it
responsibly, setting the bar for industry best practices."

    Setting the Stage for the Next Decade

    Continuing to set the course for best practices within the industry
remains a priority for AdvanceMe as it commences its second decade. In
April, AdvanceMe released its second white paper entitled "Best Practices
for Merchant Cash Advance Providers: Assessment of Risk." This white
paper is the second in a series regarding current issues for the MCA
industry, specifically the creation of key standards and best practices
that responsible MCA Providers should follow. The papers are posted on
http://www.MCABestPractices.com.

    About AdvanceMe, Inc.

    AdvanceMe, Inc. in Kennesaw, GA is the nation's leading provider of
Merchant Cash Advances to small and mid-sized businesses. Since 1998,
AdvanceMe has made 50,000 fundings, providing more than 20,000 business
owners in all 50 states with $1 billion in working capital. Owners use
AdvanceMe capital to renovate, purchase new equipment and supplies, fund
advertising, manage unexpected expenses and seasonal downturns and free
themselves from second mortgage liens and personal guarantees associated
with loans. For more information about AdvanceMe's innovative working
capital solution, call toll-free 1-866-838-5097 or visit www.AdvanceMe.com

    

MEDIA CONTACT:
For AdvanceMe, Inc.
Lauren Shankman
Trevelino/Keller Communications Group
404-214-0722 x110
lshankman@trevelinokeller.com

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