Released on: May 16, 2008, 10:16 am

Press Release Author: Lauren Teblum

Industry: Financial

Press Release Summary: Cesef Financial Corporation (CFC), Canada\'s leading Merchant
Cash Advance provider for small and medium sized businesses, announced today that
they have changed their name to Advanceit Financial Corporation.

Press Release Body: Montreal, Quebec - May 16, 2008 - Cesef Financial Corporation
(CFC) announced today that they have changed their name to Advanceit Financial
Corporation. The name Advanceit best reflects the company's core business -
advancing money to small and medium sized Canadian businesses by purchasing future
debit and credit card receivables.

The decision came after the Advanceit team realized that customers did not identify
the name CFC with merchant funding. "As the leading Canadian source of merchant
funding our name needs to reflect something that our customers can easily identify
with and remember" explained Peter Mazoff, Advanceit President

About Advanceit
Founded in 2006, in Montreal, Canada, Advanceit is the Canada's first and largest
source of Merchant Cash Advances. Advanceit works with the leading debit and credit
card processors to provide financing to small businesses based on their future
electronic payment sales. Merchants use Advanceit capital to renovate, purchase or
upgrade equipment and supplies, open a new location, purchase inventory to gear up
for a busy season, to help get through a slow season or any business needs that
might arise.

For more information, please visit our website at: www.advanceit.com

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Web Site: http://www.advanceit.com

Contact Details: Contact Information
Lauren Teblum
Tel.: (514) 670-9745 x 315
E-mail: lauren@advanceit.com