NEW YORK, April 1, 2017 /PRNewswire/ -- On March 27th, Times Square-based In Advance Capital secured a $50 million credit line to continue the rapid growth of its merchant cash advance business. The eighteen-month-old company, led by founders Shalom Auerbach and Thomas Corliss, attributes its portfolio transparency, discipline, and strong relationships with investors as the key contributing factors in securing the additional capital.
"In an industry that is increasingly difficult to access capital, we are very pleased to have earned the confidence of sophisticated investors who have provided capital that aligns their objectives with ours, which is to provide fast and flexible working capital to small business owners experiencing the challenges and opportunities of high growth," says Shalom Auerbach, IAC's CEO. In Advance Capital has focused on creating a more streamlined process to facilitate its own growth, including a quicker underwriting process, while seeing 220% more applications within the last two months.
"In Advance is a testament that you can build and grow a company in a competitive industry if you concentrate on hiring top talent, servicing, and listening to your customers," Corliss says.
"It's all hands-on deck at In Advance which also makes our work environment a special place to work."
In Advance is also pleased to announce its recent Executive Management addition to staff, Keith Nason as Chief Operating Officer. Keith Nason brings over 10 years of expertise to driving operational leverage, streamlining process and data science analytics.
About In Advance Capital
Founded in 2015, the company provides working capital to small business owners. To learn more, visit http://www.inadvancecap.com or call 646-412-3303.
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SOURCE In Advance Capital