Alternative Finances

CAN Capital’s Plan To Boost SMB Growth

CAN Capital and iPayment are teaming up to enable more than 150,000 small businesses currently utilizing iPayment’s payment and processing services to access financial solutions that may assist in growing their businesses.

“At iPayment, we are committed to providing our customers with fully integrated, all-encompassing payment services and value-added solutions to help them do what’s most important — build, run and grow successful businesses,” Greg Cohen, president of iPayment, said in a press release.

“Our partnership with CAN Capital is another example of our commitment to listening to market demand and delivering a streamlined solution for our SMB customers.”

Through the partnership, iPayment small business customers will have the ability to leverage CAN Captial’s alternative financial solutions, and it will provide them with access to working capital in as little as three business days, the company confirmed.

This additional funding can be used to support important business functions, such as increasing inventory, opening new locations, buying new equipment and other growth-related capabilities.

IPayment’s customer portal will also be integrated with CAN Capital’s CAN Connect platform, which delivers an entire suite of standardized APIs that can be offered to small business customers.

“For almost 18 years, CAN Capital has been leading the alternative small business finance industry, and to date, we have provided access to over $5.5 billion in working capital,” said Daniel DeMeo, CEO of CAN Capital.

“With our long history in the space, we have amassed a great deal of data and experience to develop the technologies needed to provide merchants with fast access to the funds they need, so they can spend more time running their business and less time searching for capital. Our success is driven by the success of our customers, and by working with sales partners like iPayment, we will be able to help many more small businesses grow and achieve their goals.”


Featured PYMNTS Study:

More than 63 percent of merchant service providers (MSPs) want to overhaul their core payment processing systems so they can up their value-added services (VAS) game. It’s tough, though, since many of these systems date back to the pre-digital era. In the January 2020 Optimizing Merchant Services Playbook, PYMNTS unpacks what 200 MSPs say is key to delivering the VAS agenda that is critical to their success.