Shearman & Sterling represented CAN Receivables, LLC, a bankruptcy-remote special purpose vehicle wholly owned by Capital Access Network, Inc., in an amended and restated $172.5 million securitization facility with Wells Fargo Capital Finance, LLC (formerly Wells Fargo Foothill, LLC), as administrative agent and as a lender, and Fifth Third Bank, Key Equipment Finance, Inc. and Brown Brothers Harriman & Co., each as a lender. Concurrently with the securitization, the firm represented AdvanceMe, Inc. and NewLogic Business Loans, Inc. (each a subsidiary of Capital Access Network, Inc.) in a $15 million amended and restated asset-based revolving loan facility with Wells Fargo Capital Finance, LLC, as administrative agent and as a lender, and Brown Brothers Harriman & Co., as a lender. Capital Access Network, Inc. is the nation’s leading provider of merchant cash advances.

The Shearman & Sterling team included partner Steven E. Sherman (San Francisco-Finance Group), of counsel David Bleich (New York-Finance Group) and associate Nathan Wood (San Francisco-Finance Group).