CAN Capital receives $287m financing facility
Small business lending solution company CAN Capital has accepted a $287 million financing facility from alternative asset manager Varadero Capital. This marks the second time Varadero Capital has facilitated funds for the New York-based firm, reports Julie Muhn at Finovate.
Varadero Capital rides again
CAN Capital plans to use the funds to support growth, recruit staff and invest in technology.
Additionally, the company reached a milestone this week, having provided small businesses access to more than $7 billion in funding through 190,000+ transactions.
Founded in 1998, CAN Capital has helped 81,000 small businesses ranging from restaurants to auto repair shops by offering capital for them to open new locations, purchase equipment, hire employees, and more.
Earlier this year, CAN Capital appointed Tom Davidson as chief financial officer.
