Abanco International Furthers Its Commitment with Merchant Cash Advance Offer
Trusted Processor Partners with Leading Provider of Merchant Cash Advances
ATLANTA (June 20, 2006) -- AdvanceMe, Inc. (AMI), the nation ’s foremost supplier of Merchant Cash Advances for small-and mid-sized businesses, today announced that Abanco International, LLC has become its most recent Preferred Partner. This strategic partnership will enable Abanco to provide its merchants with a best-in-class funding solution that is quickly becoming recognized as one of the most business-friendly forms of working capital. This offering will also support Abanco’s ISOs (Independent Sales Organizations) in building and retaining their customer bases while strengthening the value of their portfolios.
Abanco, an established company with a strong reputation for its complete range of payment processing services, offers its customers and ISOs complete payment processing options, support of cashless environments and exceptional customer service. AdvanceMe’s funding approach uses credit card transactions as the means of providing working capital, making it the natural fit with Abanco’s products and services.
“As a trusted provider in electronic commerce and payment services, Abanco offers partners and merchants the tools needed to strengthen customer relationships, cut operations costs, reduce risk and improve efficiency in order to increase sales and profits,” states Tracy Metzger, President, Abanco International. “We can play a critical role in supporting the growth of any business, small or large. We strive to be an enabler to success, and AdvanceMe’s non-traditional financial resource helps us to do just that.”
According to the Wall Street Journal, “The upside (of Merchant Cash Advances) for the merchants, like restaurants, flower shops, franchisees and others that sell mostly through credit cards, is that they receive the money quickly, are not required to put up collateral, and do not have to pay late or application fees.” AdvanceMe has become the recognized leader within the Merchant Cash Advance category by differentiating itself - understanding the financial situation and challenges small-to-medium-sized businesses face and providing a product that meets their needs. AdvanceMe’s financial resources, backed by companies such as Wells Fargo Foothill and Brown Brothers Harriman, as well as its national scope further reinforce its continued growth.
“We are pleased to have been selected as Abanco International’s preferred Merchant Cash Advance partner,” explains Glenn Goldman, Chief Executive Officer of Capital Access Network, the parent company of AdvanceMe, Inc. “We have created a ‘best in class’ product offering for merchants and ISOs alike, as well as a reputation as a trusted partner in the processing industry. Abanco’s decision to partner with AdvanceMe further reinforces our industry position.”
About AdvanceMe
AdvanceMe, Inc. in Kennesaw, GA is the nation’s leading provider of Merchant Cash Advances to small and mid-sized businesses. Since 1998, AdvanceMe has made almost 30,000 advances, providing more than 13,000 business owners in all 50 states with more than half a billion dollars 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 using or selling AdvanceMe’s innovative working capital solution, call toll-free 1-866-700-6486 or visit www.AdvanceMe.com.
About Abanco International, LLC
Abanco International, LLC, headquartered in Rosemont, IL, was founded with a mission of providing the best "Total Payment Solutions" available. Abanco provides thousands of customers with the most advanced payments and data-transaction technology in today'''''''''''s market. Our suite of products and services are based on our core payment facility that provides all forms of payment processing, which includes electronic reporting, archival facilities, software development, and in-house deployment operations - all backed by a 24x7x365 service desk. Our proprietary front-end gateway switch is designed to eliminate compatibility and integration challenges as it routes credit card authorization and capture to the platform of choice and data to our robust data warehouse.
Today, Abanco has expanded our core payment-processing infrastructure that transacts millions of payment transactions per day to its next generation - the delivery of highly customized, vertical specific solutions to meet the needs of industries such as healthcare, airline, rail, golf and others. These innovative solutions leverage Abanco's core payments and data transaction processing in unique environments such as an airline carrier's "Food for Sale" retail environment or payments acquiring at a physician's office that includes terminal or web based real-time insurance eligibility and verification. Abanco International, LLC is privately held.
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