CAN Capital To Bring its Executive Functions Back to Kennesaw

For CAN Capital, the power is coming back to Kennesaw, GA.

Gary Johnson, CAN’s Executive Chairman, said “Today, CAN Capital announced it will be moving its finance and executive functions from New York to Kennesaw. The board believes this move will position CAN for increased efficiency and faster decision making as it continues to meet the growing needs of small businesses. As a result, CEO Parris Sanz and CFO Tom Davidson currently based in NY, will be transitioning out of their roles. CAN Capital recently crossed the $7 Billion milestone of providing access to capital to small businesses which includes almost $300 million over the past year. The company also secured a commitment from Varadero Capital for up to $287 million to augment its expansion initiatives and capital.”

A spokesperson from CAN confirmed that Sanz and Davidson did not want to move to the Atlanta-area headquarters for personal reasons and that the board is conducting a new search for a CEO. Sanz has been with the company since 2004, rising to the CEO position in November 2016.

Founded in 1998, CAN Capital is among the oldest alternative lending companies.

Sean Murray is the President and Chief Editor of deBanked and the founder of the Broker Fair Conference. Connect with me on LinkedIn or follow me on twitter. You can view all future AltFinanceDaily events here.