October 27, 2011 // Franchising.com // [Orlando, FL] - Funding to support existing franchisees just became easier. Franchise Payments Network (FPN), the only electronic payments processing company to focus solely on the franchise segment, announced its newest product aimed at offering existing franchisees an easily accessible working capital solution to expand and grow their current businesses.
The product, FPN Capital on Demand, powered by Capital Access Network, will help franchisees with business expenses such as renovations, expansion plans, equipment purchases, advertising, emergencies, inventory buys, seasonal management and more.
“Although the economy has shown some signs of improvement, the credit crunch still exists, and it continues to be challenging for franchise owners to secure financial capital from traditional sources,” said Tom Epstein, CEO of Franchise Payments Network. “FPN Capital on Demand will allow franchisees the opportunity to expand their businesses without dealing with the red tape associated with traditional finance options.”
Through FPN Capital on Demand, franchisees will have the ability to access working capital, up to $150,000 per location, in as quickly as five to ten business days. “This program has been designed with the Franchise industry in mind. We are helping Area Developers finally expand to meet their development agreements, and franchisees to add or upgrade that piece of equipment they need to drive more sales,” Epstein went on to say.
FPN Capital on Demand was created in partnership with Capital Access Network, Inc. (CAN), which, through its subsidiaries, has provided more than $2 billion in working capital solutions and information resources for small business owners, including over 100 franchise concepts. FPN’s vast pool of franchisees in its system, coupled with CAN’s history of serving small businesses, produced a natural product solution - FPN Capital on Demand.
“FPN Capital on Demand is a groundbreaking solution, uniquely and precisely addressing the needs of the franchise community,” said Joe Valeo, Executive Vice President of Capital Access Network. “We are excited to support FPN, an innovator that listens to its customers, identifies a clear need in its merchant base, and sets out to address those needs. The result delivers a value-added benefit to franchisees seeking to grow and expand in this economy.”
Franchise Payments Network is the only credit card processing company that focuses entirely on the franchise industry. Endorsed by more than 125 franchise systems, FPN gives it franchise clients the flexibility to customize a solution that best suits the needs of the franchise system. Services include Credit and Debit Card processing, ACH services, ATM procurement, Capital On Demand, Gift/Loyalty Card services, Check Verification and Electronic Conversion, Payroll Card programs, PCI Compliance, SMS/Text Marketing services, custom iPhone Applications and electronic payments consulting. To learn more about becoming a member of the network, please contact Thomas Epstein, CEO of Franchise Payments Network, at 866-420-4613 or visit www.franchisepayments.net.
Capital Access Network, Inc. (CAN) leverages leading edge data, systems and technology, combined with a unique and highly effective Daily Remittance Platform™, to deliver innovative financial products and services geared to small and mid-sized businesses (SMBs) and SMB capital providers. CAN also provides merchant capital options through its wholly-owned subsidiaries: AdvanceMe, Inc, the leader in Merchant Cash Advances, and NewLogic Business Loans, Inc. Learn more at www.CapitalAccessNetwork.com.