RapidAdvance General Counsel News

RapidAdvance Appoints Joseph Looney as General Counsel

Bethesda, MD - April 17, 2007: RapidAdvance, a leading provider of merchant cash advance services, today announced that Joseph Looney has joined the company as General Counsel. In his new role, Joseph will lead all legal and compliance efforts for RapidAdvance. Using a practical approach which blends legal principles and business practices, Joseph has helped hundreds of financial institutions develop new programs and comply with applicable state and federal laws.

Prior to joining RapidAdvance, Joseph was a partner and member of the management committee at Hudson Cook, LLP - one of the nation's top financial services law firms. At Hudson Cook, Joseph assisted national and state banks, credit unions, consumer finance companies, credit card issuers and others in complying with the various state and federal laws that apply to financial services firms. Additionally, he has assisted a number of investment banks in purchasing financial services businesses and loan portfolios. Prior to Hudson Cook, Joseph was employed by Weil, Gotshal & Manges, LLP, one of the nation's largest law firms, in its financial services practice group. Joseph has worked with RapidAdvance since the third quarter of 2006, assisting the company with a wide variety of legal and compliance issues.

"Joseph brings a wealth of highly relevant legal and general business expertise to the company, and will be instrumental in satisfying the expanding contract and business-related demands resulting from our dynamic growth," said Jeremy Brown, President and COO of RapidAdvance. "His expertise will be invaluable as we create a comprehensive compliance program and develop innovative new services that will further enhance our leadership advantage."

"I'm excited to join RapidAdvance at a time when we are poised for sustained growth and differentiation through service innovation," said Joseph Looney. "But what really sets this company apart is the professionalism and integrity of the management team. Our collective commitment to building a market-leading compliance program and a suite of ancillary services will solidify our position as the leader in the merchant cash advance industry."

Joseph graduated with honors from the University of Maryland's School of Law. He is a member of the American Bar Association's Consumer Financial Services Law and Commercial Financial Services Law committees. Additionally, Joseph has written for numerous publications, including The Business Lawyer and The Review of Banking and Financial Services regarding financial services compliance and privacy issues.