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CompanyProfle
ISO/MLS contact: A growing distribution channel
Mark Cerminaro RapidAdvance also made an early decision to differentiate
Chief Revenue Officer itself by offering unmatched service to both resellers and
240-482-4685 end users. "We know that our delivery of service reflects
mcerminaro@rapidadvance.com on our ISO partners," Cerminaro said. He noted that the
www.rapidadvance.com company focuses on developing high-tech systems that
add a speed of decisioning, but it never lets automated
processes run without a creative, customized personal
review.
Rapid and advanced "We built our systems to be flexible, and we created a
process flow that is as easy to use for a one-man shop as
it is for a large entity," Cerminaro said. "But at the end
n its infancy, the merchant cash advance (MCA) of the day, our third-party distribution channel is robust
business was a one-product, alternative funding because we always focus on being personally responsive,
solution that garnered great praise and criticism responsible and flexible to the end customer."
I in equal measure. While it helped open merchant
doors and generate revenue for resellers, MCA also A partnership with Quicken Loans
raised the hackles of those who worried that high costs
could damage their relationships with merchants, and In September 2013, RapidAdvance was acquired by
that government intervention was likely. Rockbridge Growth Equity LLC, a private equity firm
that is part of the Rock Ventures Family of Companies. Its
flagship company, Quicken Loans, is the nation's second
Companies like Rapid Financial Services LLC, doing largest retail mortgage lender. Rockbridge also owns
business as RapidAdvance, entered the industry with the equity stakes in multiple companies, including Connect
aim of making things better. America, AccountNow, Protect America, Northcentral
Expanding product lines University, One on One Marketing, Purchasing Power
and Triad Retail Media, and is affiliated with more than
Founded in 2005, RapidAdvance currently has 83 100 companies as part of Rock Ventures, Cerminaro
employees led by Chief Executive Officer Jeremy Brown. reported.
The company, which is focused on building a robust
portfolio of both alternative and mainstream funding This was an acquisition based on an alignment of goals,
solutions, noted that since its founding, it has never RapidAdvance said, pointing to the fact that Quicken
wavered from its commitment to offer its products at Loans has won repeated recognition by J.D.Power and
fair and reasonable rates, backed up by informed and Associates for its level of customer service.
transparent support.
"Our new affiliation with Rockbridge lends technological
According to RapidAdvance Chief Revenue Officer Mark resources that will enable a more accelerated build-out of
Cerminaro, that is why RapidAdvance has emerged as tools that will lead to faster decision-making and greater
a leader in a new kind of cash advance industry. "We growth," Cerminaro said. "But the corporate culture and
restructured to better serve the marketplace by offering commitment to high-touch flexibility will remain the
multiple products that provide the best type of financing same."
for each individual merchant," Cerminaro said.
A new company for a new industry
In addition to MCA, RapidAdvance offers its customers Over the past three years, RapidAdvance has developed
bridge loans, lines of credit and small business loans. a distribution channel of more than 1,000 ISO sales
partners and experienced year-over-year double-digit
"Rapid also works hard to ensure that our products revenue growth, the Bethesda, Md.-based company
are priced appropriately for the size and cash flow stated. It credits its success to making smart choices
strength of the merchant customer, while still adequately during a time of intense industry scrutiny and change.
compensating our strategic sales partners," Cerminaro
said. RapidAdvance offers lower-cost loan products, and "We started as a niche industry, but today we are
lower-cost, longer-term cash advances, and has funded mainstream," Cerminaro said. "We are referenced in
over $600 million in working capital to date, he added. the Wall Street Journal; we are an opportunity to better
serve customers and protect processing business; we are
a staple in small business financing that ISOs can't afford
to ignore."
27
ISO/MLS contact: A growing distribution channel
Mark Cerminaro RapidAdvance also made an early decision to differentiate
Chief Revenue Officer itself by offering unmatched service to both resellers and
240-482-4685 end users. "We know that our delivery of service reflects
mcerminaro@rapidadvance.com on our ISO partners," Cerminaro said. He noted that the
www.rapidadvance.com company focuses on developing high-tech systems that
add a speed of decisioning, but it never lets automated
processes run without a creative, customized personal
review.
Rapid and advanced "We built our systems to be flexible, and we created a
process flow that is as easy to use for a one-man shop as
it is for a large entity," Cerminaro said. "But at the end
n its infancy, the merchant cash advance (MCA) of the day, our third-party distribution channel is robust
business was a one-product, alternative funding because we always focus on being personally responsive,
solution that garnered great praise and criticism responsible and flexible to the end customer."
I in equal measure. While it helped open merchant
doors and generate revenue for resellers, MCA also A partnership with Quicken Loans
raised the hackles of those who worried that high costs
could damage their relationships with merchants, and In September 2013, RapidAdvance was acquired by
that government intervention was likely. Rockbridge Growth Equity LLC, a private equity firm
that is part of the Rock Ventures Family of Companies. Its
flagship company, Quicken Loans, is the nation's second
Companies like Rapid Financial Services LLC, doing largest retail mortgage lender. Rockbridge also owns
business as RapidAdvance, entered the industry with the equity stakes in multiple companies, including Connect
aim of making things better. America, AccountNow, Protect America, Northcentral
Expanding product lines University, One on One Marketing, Purchasing Power
and Triad Retail Media, and is affiliated with more than
Founded in 2005, RapidAdvance currently has 83 100 companies as part of Rock Ventures, Cerminaro
employees led by Chief Executive Officer Jeremy Brown. reported.
The company, which is focused on building a robust
portfolio of both alternative and mainstream funding This was an acquisition based on an alignment of goals,
solutions, noted that since its founding, it has never RapidAdvance said, pointing to the fact that Quicken
wavered from its commitment to offer its products at Loans has won repeated recognition by J.D.Power and
fair and reasonable rates, backed up by informed and Associates for its level of customer service.
transparent support.
"Our new affiliation with Rockbridge lends technological
According to RapidAdvance Chief Revenue Officer Mark resources that will enable a more accelerated build-out of
Cerminaro, that is why RapidAdvance has emerged as tools that will lead to faster decision-making and greater
a leader in a new kind of cash advance industry. "We growth," Cerminaro said. "But the corporate culture and
restructured to better serve the marketplace by offering commitment to high-touch flexibility will remain the
multiple products that provide the best type of financing same."
for each individual merchant," Cerminaro said.
A new company for a new industry
In addition to MCA, RapidAdvance offers its customers Over the past three years, RapidAdvance has developed
bridge loans, lines of credit and small business loans. a distribution channel of more than 1,000 ISO sales
partners and experienced year-over-year double-digit
"Rapid also works hard to ensure that our products revenue growth, the Bethesda, Md.-based company
are priced appropriately for the size and cash flow stated. It credits its success to making smart choices
strength of the merchant customer, while still adequately during a time of intense industry scrutiny and change.
compensating our strategic sales partners," Cerminaro
said. RapidAdvance offers lower-cost loan products, and "We started as a niche industry, but today we are
lower-cost, longer-term cash advances, and has funded mainstream," Cerminaro said. "We are referenced in
over $600 million in working capital to date, he added. the Wall Street Journal; we are an opportunity to better
serve customers and protect processing business; we are
a staple in small business financing that ISOs can't afford
to ignore."
27
