First Union Joins the LiveCapital Financing Network to Offer Online Loans to Small Business Customers.Business Editors SAN MATEO San Mateo (săn mətā`ō), city (1990 pop. 85,486), San Mateo co., W Calif., on San Francisco Bay; inc. 1894. It is a commercial and retail center with some high-technology manufacturing. San Mateo, Spanish for St. , Calif.--(BUSINESS WIRE)--Oct. 31, 2000 LiveCapital, the leading enabler of real-time business financing, and First Union Small Business Capital announced today that First Union will offer financing through the LiveCapital Financing Network(TM). LiveCapital's clients will now be able to provide their small business customers with instant access to small business financing from one of the country's dominant leaders in small business and conventional loan financing. "Being a part of the LiveCapital Financing Network is integral to elevating and maintaining our position as one of America's leaders in small business lending," said Greg Leuterio, vice president and sales manager sales manager n → gerente m/f de ventas sales manager n → directeur commercial sales manager sale n → of First Union Small Business Capital Lending Capital lending is the process of a large company, or corporation, offering financing on large "ticket" items to encourage the customer to purchase that item. Many major corporations have set up finance divisions, or subsidiaries, to help the customer purchase their product over Group. "Joining the network allows us to provide our small business customers value-added products and services via the web, and to continue to provide our customers access to services and capital anywhere, anytime, and anyway they choose." This agreement increases LiveCapital's roster of lending partners to include more than 70 lenders and lessors who together offer financing products covering the entire credit spectrum. Through the LiveCapital Financing Network, First Union Small Business Capital will offer between $250,000 and $3 million in conventional and Small Business Administration-guaranteed financing, with up to 25-year fully amortized loan terms and up to 90 percent financing. "Adding First Union Small Business Capital to our network of lenders and lessors will further enhance our clients' ability to offer their small business customers a more diverse selection of financing alternatives," said Mike Grossman, chief executive officer of LiveCapital. "In this competitive market, having the ability to offer the right type of financing in real time can make the difference when trying to acquire and retain customers." The LiveCapital Financing Network is a core component of the LiveCapital Finance Platform, the company's customizable enablement solution for financial institutions, vendors and B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business marketplaces seeking to offer instant financing from their corporate Web sites. Using the LiveCapital Finance Platform, a client company can provide its small business customers with the ability to - in less than five minutes - complete a financing application, have that application instantly evaluated, and immediately secure financing decisions Financing decisions Decisions concerning the liabilities and stockholders' equity side of the firm's balance sheet, such as a decision to issue bonds. from members of the LiveCapital Financing Network. First Union Small Business Capital has long been recognized as a specialist in medical professional business financing, custom tailoring loans to meet the needs of physicians, dentists, veterinarians Veterinarians and veterinary surgeons (vets) are medical professionals who operate exclusively on animals. Well-known and notable veterinarians include:
About Live Capital LiveCapital enables financial institutions, vendors, and B2B marketplaces to provide their small business customers with instant online financing. The company offers its clients a comprehensive and flexible Finance Platform that leverages proprietary decisioning technology and the industry's largest and most diverse multi-lender network (the LiveCapital Financing Network) to provide instant financing application and decision capabilities. In addition, the Finance Platform includes the back-office systems and support essential to ensure satisfied customers and effective loan fulfillment. To date, LiveCapital has facilitated the approval of over $3.5 billion in loans, lines of credit, leases and credit cards. LiveCapital is privately held and is headquartered in San Mateo, California San Mateo is a city in San Mateo County, California, in the San Francisco Bay Area. It is one of the larger suburbs on the San Francisco Peninsula, located between Burlingame to the north, Foster City to the East, and Belmont to the south. . Its primary investors are Kleiner Perkins Caufield Byers, XL Capital, Gotham Partners, Frontline Capital, Red Rock Ventures, and Irwin Ventures. In addition, its strategic partners include Microsoft, Intuit in·tu·it tr.v. in·tu·it·ed, in·tu·it·ing, in·tu·its Usage Problem To know intuitively. [Back-formation from intuition. , American Express American Express (NYSE: AXP), sometimes known as "AmEx" or "Amex", is a diversified global financial services company, headquartered in New York City. The company is best known for its credit card, charge card and traveler's cheque businesses. , Fair, Isaac & Company, Experian and Dun & Bradstreet. For more information, visit the company's Web site at www.livecapital.com. About First Union Corporation First Union (NYSE NYSE See: New York Stock Exchange :FTU FTU Foreign Trade University (Hanoi, Vietnam) FTU Federation of Trade Unions (Hong Kong, China) FTU Formal Training Unit FTU Florida Times-Union (newspaper) ), with $247 billion in assets and stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. of $15 billion at September 30, 2000, is a leading provider of financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. to 15 million retail and corporate customers throughout the East Coast and the nation. The company operates full-service banking offices in 11 East Coast states and Washington, D.C., and full-service brokerage offices in 45 states and international offices worldwide. Online banking products and services can be accessed through www.firstunion.com |
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