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CAN Capital

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CAN Capital
CAN Capital.png
Capital Access Network
IndustryFinancial services
Founded 📆1998 in United States
Founder 👔Barbara Johnson
Headquarters 🏙️New York, NY
Area served 🗺️
Key people
Parris Sanz (CEO)
Products 🎛️ 🧴Loans, Merchant Cash Advance, Term Loan
Number of employees

CAN Capital is a financial services company that provides access to working capital to small and mid-sized businesses in the United States. The firm has offices in White Plains, NY and Atlanta, GA.[1]

Founded in 1998 by a female small business owner, CAN Capital is one of the first finance companies in the U.S. ‘solely focused’ on small business finance and is one of the largest online providers of alternative financing for small businesses.[2][3][4][5][6]


CAN Capital, formerly known as Capital Access Network until it rebranded in 2013, was founded in 1998 by Barbara Johnson.[1] A small business owner at the time, Johnson developed a product, now known as a merchant cash advance, that enabled companies to obtain working capital by selling their future sales from credit card processing.[7] This product formed the basis for CAN Capital’s business, which Johnson and her husband, Gary Johnson, co-founded and financed.[6]

In February 2012, CAN Capital received $30 million in financing from venture capital firm Accel Partners to help it target online-based businesses.[2][5]

By April 2016, under its then second CEO, Dan DeMeo, CAN Capital had provided small business owners $6 billion in working capital since its founding in 1998.[3][4]

In July 2016, Chief Legal Officer Parris Sanz presented a testimony before the House Committee on Financial Services, Subcommittee on Financial Institutions and Consumer Credit examining the opportunities and challenges in the financial technology industry in regards to online lending.[8]

In November 2016, CAN Capital temporarily stopped its funding activities and removed several top executives after an internal review showed that “some assets were not performing as expected and there was a need for process improvements in collections.”[3][4][9] CAN Capital installed Chief Legal Officer Parris Sanz as Acting CEO and later named Sanz CEO in February 2017.[10]

In July 2017, CAN Capital resumed its funding activities following a recapitalization by Varadero Capital, a New York-based alternative asset manager.[10]


The alternative finance sector has faced skepticism over the potential for higher costs when compared to other sources of funding. However, with many banks pulling back from traditional lending, the gap in the market has fueled growth in the alternative and online financing across the industry. Despite the potential for higher costs, online and alternative small business finance companies offer speed and services that traditional banks do not.[11][12][13][14]


  1. 1.0 1.1 Rudegeair, Peter; Demos, Telis (2017-01-13). "CAN Capital Hires Jefferies, Realization Services to Restore Business". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-06-25. Founded in 1998, CAN Capital is one of the largest online lenders to small businesses, funding $6.5 billion in loans and cash advances since inception.
  2. 2.0 2.1 Rao, Leena (2012-02-07). "Capital Access Network Raises $30M From Accel To Loan Small Businesses Working Capital – TechCrunch". TechCrunch. Retrieved 2018-03-15.
  3. 3.0 3.1 3.2 McLannahan, Ben (2016-11-29). "Hard-hit online lender CAN Capital makes executive changes". Financial Times. Retrieved 2018-06-25. New York-based CAN Capital said on Tuesday that it had replaced a trio of senior executives, after an internal review found that ‘some assets were not performing as expected and there was a need for process improvements in collections’. CAN said it had promoted Parris Sanz, the company’s chief legal officer, to acting head of the company, replacing Dan DeMeo, chief executive.
  4. 4.0 4.1 4.2 Faux, Zeke; Dexheimer, Elizabeth (2016-11-29). "Small-Business Lender CAN Capital Replaces CEO, Promotes Sanz". Bloomberg. Retrieved 2018-06-25. The firm said in April that it had arranged $6 billion in loans since it was founded in 1998. CEO Dan DeMeo and two other members of his team are on leave of absence, a spokeswoman for the company said Tuesday in an e-mailed statement.
  5. 5.0 5.1 McBride, Sarah (2012-02-07). "Fast Cash: Accel invests $ 30 million in Capital Access Network". Reuters. Retrieved 2018-06-25.
  6. 6.0 6.1 Landy, Heather (2011-09-01). "Gauging Risk, In 24-Hour Increments". American Banker. Retrieved 2018-03-15.
  7. Harris, Derrick (2013-02-04). "In funding small businesses, data science is sometimes just common sense". gigaom.com. Retrieved 2018-06-25.
  8. "Examining the Opportunities and Challenges with Financial Technology (FinTech): The Development of Online Marketplace Lending" (PDF). House Committee on Financial Services. 2016-07-12.
  9. Rudegeair, Peter (2017-01-16). "How a Growth Push Derailed CAN Capital, a Big Lender to Small Businesses". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-06-25. In November, the board of directors put Mr. DeMeo, along with the company’s chief financial officer and chief risk officer, on leave.
  10. 10.0 10.1 Wack, Kevin (2017-07-06). "Struggling CAN Capital receives fresh infusion of cash". American Banker. Retrieved 2018-06-25. The New York-based company, which had stopped funding new loans, said in a press release Thursday that it has been recapitalized by Varadero Capital, an asset management firm that focuses on specialized credit.
  11. Clark, Patrick (2014-04-04). "Forget the Algorithms. Get Me a Loan Broker!". Bloomberg.com. Retrieved 2018-03-15.
  12. Tisdale, Stacy (2014-06-22). "Small businesses increasingly turn to online lenders when banks bail". PBS NewsHour. Retrieved 2018-03-15.
  13. Stuart, Alex (May 2014). "Easy, But Not Cheap". Inc. Magazine. Retrieved 2018-03-15.
  14. O'Brien, Sara Ashley (2014-07-18). "Banks won't lend? Turn to these guys instead". CNNMoney. Retrieved 2018-06-25.

External links[edit]

Official website

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