RapidAdvance News

• Merchant Cash Advances: Potential help in overcoming the economic downturn
  With core inflation rising, consumer spending slowing, and credit markets tightening, times are tough for many small and mid-sized businesses in the foodservice industry. Working capital is vital to the success of a business, and when sales fall short or unexpected expenses arise, gaining access to this muchneeded capital can be a real challenge in today's market. Without ready access to funds, business owners may find themselves struggling when it comes to covering the costs of day-to-day operations, emergency repairs, or much needed renovations or expansions. Reprinted with permission from FoodService News.
  
  
• RapidAdvance partners with Humboldt Merchant Services to bring financial solutions to small businesses:
  RapidAdvance, LLC, founded by Ernst & Young Entrepreneur of the Year Lee Jundanian, has partnered with Humboldt Merchant Services to provide its customers with a merchant cash advance solution. RapidAdvance, a leading provider of merchant cash advances in the U.S., Canada and the U.K., will work with Humboldt, one of North America's largest payment processors, to provide small to mid-sized business customers the working capital they need to expand their businesses, purchase new inventory, purchase new POS systems, leverage a seasonal opportunity or reduce other financial obligations.
  
  
• Cash-Advance Providers Prefer MasterCard and Visa:
  Merchant cash-advance providers prefer to buy lower-risk future receivables for Visa Inc. and MasterCard Worldwide credit card transactions instead of for American Express Co. and Discover Financial Services transactions, observers say.
  
  
• RapidAdvance expands into UK with purchase of Merchant Cash Express: RapidAdvance enters UK market to bring small business owners the working capital they need for success
  RapidAdvance, a leading provider of merchant cash advances in the US and Canada, announced today its entrance into the UK market with the purchase of Merchant Cash Express Limited. Merchant Cash Express is the UK leader in credit and debit card factoring with over 50 years of management experience in the finance industry. The company will continue operations as a subsidiary of RapidAdvance.
  
  
• RapidAdvance Chairman and CEO Lee Jundanian Named Ernst & Young Entrepreneur Of The Year® 2008 Award Winner in Maryland: Award Recognizes Entrepreneurial Excellence in Financial Services Category - June 20 2008
  RapidAdvance, a national leader in merchant cash advance services, today announced that Chairman and CEO Lee J. Jundanian received the Ernst & Young Entrepreneur Of The Year® 2008 Award in the Financial Services category in Maryland. According to Ernst & Young LLP, the award recognizes outstanding entrepreneurs who are building and leading dynamic, growing businesses. Jundanian was among seven winners announced at a gala event at the Baltimore Marriott Waterfront Hotel on June 19, 2008.
  
  
• Appeals Court Denies AdvanceMe Patent Appeal:
  In a lightning fast ruling, the DC-based Court of Appeals for the Federal Circuit rejected an appeal by AdvanceMe Inc. of the ruling by a lower court that invalidated the company's patent on merchant cash advance business methods.
  
  
• RapidAdvance Chairman and CEO Lee J. Jundanian Named Ernst & Young Entrepreneur Of The Year® 2008 Award Finalist in Maryland:
  May 15 2008 - RapidAdvance, LLC today announced that Chairman and CEO Lee J. Jundanian is a finalist for the Ernst & Young Entrepreneur Of The Year® 2008 Award in Maryland. According to Ernst & Young LLP, the awards program recognizes entrepreneurs who demonstrate extraordinary success in the areas of innovation, financial performance and personal commitment to their businesses and communities. Jundanian was selected as a finalist from nearly 50 nominations by a panel of independent judges. Award winners will be announced at a special gala event on June 19 at the Baltimore Marriott Waterfront Hotel.
  
  
• North American Merchant Advance Association Recently Created as Voice of Merchant Cash Advance Industry: NAMAA to promote competition and efficiency among industry - April 15 2008
  The North American Merchant Advance Association, Inc. (NAMAA) has recently been created to represent merchant cash advance providers and to promote competition and efficiency throughout the merchant advance industry. NAMAA's members will have the opportunity to share industry education and professional development, ethical standards and best practices guidelines, the development of industry relevant products and services, and the engagement in regulatory and legislative advocacy.
  
  
• Getting Cash to Grow: How a merchant cash advance could help you secure the funds to keep your carwash competitive. - April 2008
  As the saying goes, it takes money to make money. And unfortunately there is no exception to the rule for carwash professionals. Maintaining an edge in the market means constantly discovering new ways to develop your business and satisfy your customers.
  
  
• A Different Kind of Working Capital for Retailers when a Bank Loan is Not an Option
  By Jeremy Brown
  With the economy in a mess, bev/al retailers may have opportunities to grow their business, but not the working capital to leverage them. When business owners aren't able to obtain a bank loan, a merchant cash advance may be the solution.
  
  
• RapidAdvance enters Canadian market to serve the growing financial needs of small business merchants: RapidAdvance partners with Advantex to provide working capital to Canada's market of small and mid-sized businesses - February 6, 2008
  RapidAdvance, LLC, a leading provider of merchant cash advances, is expanding its service offerings to small and mid-sized business owners in the Canadian market. RapidAdvance has partnered with Advantex Marketing International Inc. to sell and market its merchant cash advance program to Canadian business owners who need access to funds to support their growth, purchase inventory, or reduce debt.
  
  
• When Your Bank Says No: How to Get Your Hands on Working Capital - November, 27 2007
  Every restaurateur who has ever attempted to get a traditional business loan understands how difficult it can be to secure financing. When the bank says no, securing a business cash advance has become a simple solution for many restaurant owners.
  
  
• Consider options to raise capital - November, 1 2007
  Talk to a professional about the myriad funding choices out there and which is best for your firm. Generally, a bank loan or line of credit is the least costly option, but you'll need hard assets - such as your home or business equipment - as collateral. | Print PDF
  
  
• Video: Daily Three: Lee Jundanian
  Lee Jundanian, the chief executive of Bethesda-based Rapid Advance, talks about how his company dishes out loans within a week or two to small business owners who need quick access to capital.
  
  
• Crystalreports.com and Salesforce.com solution: Empowering RapidAdvance with real-time, on-demand reporting
  RapidAdvance is a leading direct provider of cash advance services for small and mid-sized businesses. The company has a business-friendly model for merchants to convert their future credit card receivables into immediate cash, quickly and easily.
  
  
• Funding Surge: Selling advance funding to merchants at high commissions is an ISO's dream, but hazards and pitfalls call for caution - July 2007
  The advance-funding band-wagon is starting to roll. AdvanceMe Inc., probably the oldest and largest provider, reports growth of more than 60 percent between first-quarter 2006 and first-quarter 2007 in its ISO channel, which accounts for more than 70 percent of its advances, according to Glenn Goldman, CEO. | Print PDF
  
  
• Merchant Cash Advances: What are the Legal Issues - July 2007
  One of the hot products ISOs can offer to merchants that accept credit cards is the merchant cash advance. While the cash advance product has been around for many years, it has not been a product embraced by ISOs and others in the credit card processing space.| Print PDF
  
  
• RapidAdvance VP Appointment: RapidAdvance Announces the Appointment of Laurie LeBoeuf As Vice-President of Operations - June 4, 2007
  RapidAdvance, a leading provider of merchant cash advance services, today announced that Laurie LeBoeuf has joined the leadership team as the company's Vice-President of Operations. LeBoeuf is a veteran of the bankcard industry, with more than twenty-five years of experience on both the acquiring and issuing side of the payments business.
  
  
• RapidAdvance General Counsel News: RapidAdvance Appoints Joseph Looney as General Counsel - 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.
  
  
• RapidAdvance News Release: RapidAdvance Names Barry Davis Vice President of Business Development - September 19, 2006
  RapidAdvance, an emerging player in the merchant cash advance industry, today announced that Barry Davis, a former principal of First Annapolis Consulting, has joined the company to head its business development efforts.
  
  

"I did a little research in the Chicago area. Other salons said that RA is a great choice and I should take advantage of your service. The process was easy. I was skeptical about programs like this at first. I was very cautious, but the technical support has been great. RapidAdvance made me feel comfortable with the entire process. The cash advance gave me the flexibility that I didn't have before. I was able to increase inventory and do some updating around the salon. The level of service was very nice; your sales people are very good and easy to work with."

- David A., Beauty Salon