SOURCE: AdvanceMe, Inc.

March 08, 2006 08:30 ET

AdvanceMe, Inc. Announces Creation of National Partnership Program to Extend the Reach of Its Small Business Funding Solution

Focus Is on Transaction Processing, Financial Services and Merchant Sectors

ATLANTA, GA -- (MARKET WIRE) -- March 8, 2006 -- AdvanceMe, Inc. (AMI), the nation's leading provider of credit card receivable funding for emerging and expanding businesses, has announced the creation of a National Partnership Program. Leading the effort is former First Data Executive, Joe Valeo, Senior Vice President of National Sales. Valeo is charged with showcasing the benefits of AdvanceMe's unique working capital solution to potential partners, including companies in the transaction processing and financial services industries as well as member organizations within the retail, franchisee and merchant sectors.

According to the latest statistics available from Equifax, there are more than 18 million small businesses in the United States. High percentages of those small business owners are digging into personal savings, taking out home equity loans, borrowing from family and running up credit card bills as forms of financing. Together with AdvanceMe, partner organizations can expand their customer base and differentiate themselves in a crowded marketplace by offering working capital -a product all businesses need.

How it Works

AdvanceMe utilizes an asset unrecognized by traditional financial institutions -- a steady stream of credit card sales -- to determine the financial viability of a business. AdvanceMe purchases a fixed amount of the business' future credit card sales at a discount, providing the business with a lump sum of working capital in exchange. Collection of the purchased credit card sales occurs automatically through the credit card processor which sends AdvanceMe a fixed, predetermined percentage from each credit card sale. The seamless integration of processing and working capital is both a natural fit and an obvious benefit to businesses and organizations seeking additional products, revenue and residual streams.

Potential partners come from a spectrum of providers, all of whom have some tie to the small business community. These include financial institutions that can not offer funding because of a potential customer's credit history, credit card processors seeking a competitive advantage by offering working capital to customers, suppliers looking for a way to close sales and organizations seeking to provide a value-added benefit to their members.

"This program was designed to create win-win partnerships that foster mutual, long-term success," explains Glenn Goldman, Chief Executive Officer of AdvanceMe. "We strive to be the partner of choice for processors and ISOs (Independent Sales Organizations) seeking innovative products that can help them to differentiate themselves in the marketplace, support the growth and retention of their customer bases and provide additional, profitable revenue streams," he adds.

Expert Team

Valeo brings more than 20 years of experience in the financial services industry, offering an in-depth understanding and knowledge of sales and account management from some of the most respected organizations in the bankcard industry. Prior to AdvanceMe, Valeo was Vice President of Indirect and ISO Sales with First Data Merchant Services. In that capacity, he was responsible for business development, strategy, channel and account management, and product and service positioning. Previously, he worked for Visa USA as a Senior Account Executive and for Citicorp Establishment Services as Vice President of Sales.

Valeo will be supported by a team of people, including former NEC Financial Services executive, Mia Amodio, who will serve as a National Account Manager. Amodio brings more than 15 years of experience in the financial services industry. Her efforts have been concentrated in managing and developing relationships with vendors & direct sales channels. Following NEC Financial Services, Amodio focused on the broker community, developing SBA programs designed to facilitate financing for franchisees/franchisors in various industries. Amodio's experience also includes positions with Bell Atlantic TriCon Leasing, where she was involved in direct sales activities to equipment vendors and end-users in the telecommunications, computer and copier industries.

"Joe and Mia are ideally suited to educate our potential partners about our customized programs and the business benefits of AdvanceMe's unique working capital offering," explains Goldman. "We look forward to extending this program and assisting partners in offering more services to the constituencies they serve and differentiating themselves from competitors."

If you are interested in learning more about AdvanceMe's National Partnership Program, please contact Joe Valeo, Senior Vice President, at (888) 700-8181 X123 or email him at jvaleo@AdvanceMe.com

About AdvanceMe

AdvanceMe, Inc. (AMI), a subsidiary of Capital Access Network, Inc., works with established and expanding businesses to provide working capital to companies in the small-to-medium-sized range who have difficulty securing funding from traditional financial institutions or prefer a funding option that aligns with their cash flow. An expert and industry catalyst in addressing the working capital needs of underserved small businesses in credit card intense industries such as restaurant and hospitality, retail and franchising, AdvanceMe provides capital based on the predictability of a company's future credit card sales. Based in Kennesaw, Georgia, AdvanceMe is a private company with an impressive record of providing more than $550 million to more than 13,000 merchants across all 50 states. For more information about utilizing or selling AdvanceMe's innovative working capital solutions, call toll-free 1-866-700-6486 or visit www.AdvanceMe.com.

Note: Figures are taken from the most recent data available from Equifax.

Contact Information

  • Heather Graham
    Trevelino/Keller Communications Group
    404-214-0722 x103
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