ATLANTA, Jan. 11 /PRNewswire/ -- AdvanceMe, Inc., the nation's leading provider of Merchant Cash Advances for small and mid-sized businesses, announced today that it has begun including customized same-store sales data and similar-store benchmark data to enhance monthly customer statements. The data is provided by the Data Services Division of its parent company, Capital Access Network, Inc. (CAN).
Enhanced statements provide AdvanceMe merchants an individualized comparison of their current month's credit and debit card transactions versus the same month in the previous year. The data also provides merchants with a benchmark demonstrating how their business' card transactions compare with other businesses in their competitive group, enabling them to monitor trends and make more informed business decisions. The two areas of statement enhancement are:
- Merchant results - which highlight a merchant's month-over-prior-year month credit and debit card sales performance, calculated by looking at the change in total credit and debit transactions for the indicated month compared to the same month of the previous year.
- Peer group results - which demonstrate how a merchant's business compares with a group of similar businesses, determined through a comparison with merchants in the database that fall into the same business category, region and population size, and, in many cases, with similar average ticket size as the merchant.
"Small businesses need timely data to create strategies and plans that will ensure future growth. Reporting personalized and aggregated card sales data monthly demonstrates our commitment to small business success, helping owners to be better informed and proactive," noted Mark Lorimer, Chief Marketing Officer of AdvanceMe. "Offering our customers value-add benefits that are unique in the Merchant Cash Advance industry is a goal we pursue every day."
"We are pleased to provide the comparative sales information that offers AdvanceMe customers a clearer picture of how they are performing," said Glenn Goldman, President and Chief Executive Officer of Capital Access Network. "Small businesses, employing fewer than 100 people, constitute the majority of businesses in the U.S., but are not included in most 'Same-Store Sales' reports that usually focus on 'Big-Box' retailers and Wall Street-followed companies. The data we provide through our Data Services Division is drawn exclusively from 'Main Street' merchants."
CAN's Data Services Division was formed to provide predictive analytics, scoring and other risk management tools that help quantify, control or reduce the exposure of those providing capital or credit to small and mid-sized businesses and to improve the marketing efficiencies of those who target such businesses. In addition to customized information at the merchant level for AdvanceMe's customers, the Data Services Division produces the quarterly Small Business Credit Sales Report (SBCS Report). The SBCS Report highlights credit and debit same store card sales trends throughout the small and mid-sized business landscape. The data is based on the division's tens of millions of records collected by CAN subsidiaries throughout the past 11 years of providing leases, loans and Merchant Cash Advance products to small and mid-sized merchants, and collecting the daily, weekly and monthly credit and debit card volumes of those merchants nationwide.
A copy of the enhanced statement format can be viewed at http://www.AdvanceMe.com/viewdocument/AdvanceMeStatementSample.pdf
About AdvanceMe Inc.
AdvanceMe, Inc. is the nation's leading provider of Merchant Cash Advances to small and mid-sized businesses. Since 1998, AdvanceMe has made almost 60,000 fundings, providing more than 25,000 businesses in all 50 states with over $1.5 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.
About Capital Access Network Inc.
Capital Access Network, Inc. (CAN) serves the small business market through its wholly-owned subsidiaries, including AdvanceMe, Inc., the leader in Merchant Cash Advances. CAN leverages leading-edge data, systems and technology, married to a unique and highly effective collection methodology, to deliver innovative financial products and services geared to the small and mid-sized business markets. Founded in 1998 and headquartered in New York, CAN and its subsidiaries currently employ 300 people in four locations in New York, Georgia, Massachusetts and Costa Rica. CAN's Data Services Division was formed to provide predictive analytics, scoring and other risk management tools to help quantify, control or reduce the exposure of those providing capital or credit to small and mid-sized businesses and to improve the marketing efficiencies of those who target such businesses. CAN's Data Services Division draws upon the data gathered by CAN's subsidiaries through 11 years of collecting and analyzing the sales trends and firmographics of tens-of-thousands of businesses to which they have provided capital or from which they have purchased future credit card receivables.
SOURCE AdvanceMe, Inc.