FREE SUBSCRIPTION Includes: The Advisor Daily eBlast + Exclusive Content + Professional Network Membership: JOIN NOW LOGIN
Skip Navigation LinksHome / News / Read News


Capital Access Network Raises $1 Billion for Small Businesses

September 28, 2012, 06:32 AM
Filed Under: Industry News

New York Business Journal reported that Goldman Sachs helped Capital Access Network Inc. close on a $1 billion round of financing that will target small businesses.  According to the report, New York City-based Capital Access said the investment bank provided a $295 million secured line of credit that could be expanded to $400 million.

Other investors include Wells Fargo Capital Finance, serving as sole lead arranger and administrative agent, Brown Brothers Harriman, Key Equipment Finance and Fifth Third Bancorp.

Capital Access Network said it will invest about $600 million in small businesses this year, a record year for the 14-year-old company.

Capital Access Network, through its subsidiaries NewLogic Business Loans Inc. and AdvanceMe Inc., has provided more than 80,000 small businesses access to $2.5 billion in working capital since 1998.

Comments From Our Members

You must be an Equipment Finance Advisor member to post comments. Login or Join Now.