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AdvanceMe Inc., a merchant-cash advance company, is the latest payments-industry company to announce a mobile phone application for Apple Inc.'s iPhone. Kennesaw, Ga.-based AdvanceMe says the free Biz Cash Now application enables merchants to calculate an estimated cash advance amount, to request a cash advance against their payment card receivables, to receive promotional information from AdvanceMe and it contains a list of frequently asked questions. AdvanceMe developed the application because busy small merchants often use mobile phones as replacements for office-based computers, says Mark Lorimer, chief marketing officer at Capital Access Network Inc., AdvanceMe's Scarsdale, N.Y.-based parent company. "We developed this iPhone application so that they can have even more convenient access to working capital plus information and tools to help them make better decisions," Lorimer says. The software also works on iPod Touch devices.
