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Slingshot Propels Small Businesses

February 25, 2008 at 12:00 AM EST

New social networking site provides area small business owners access to a “community” full of resources and shared ideas

McLean, Va. (February 25, 2008) – Capital One Financial Corporation (NYSE: COF) today introduced Slingshot, a new online marketplace designed to connect and mobilize the local small business community. Launched in Denver, Colorado and Raleigh, North Carolina, Slingshot (www.joinslingshot.com) provides a unique new venue for small business owners to share ideas, seek advice, generate leads, and promote and grow their businesses.

“Slingshot was designed to help locally-owned businesses increase their customer base, openly share information and attract strategic partners. This online marketplace brings together a network of powerful allies – both small business owners and customers – who are committed to ensuring the success of small business,” said Dave Wasik, Senior Vice President, Capital One Small Business. “We created Slingshot because we believe in the power of small business owners and their importance to local communities. Slingshot will encourage customers to continue to buy local and will help small business owners network for ideas, advice and support to grow their businesses.”

More people are leveraging online social networks today to inform their buying decisions and find dependable resources. Small business owners benefit from being a part of this exchange. Slingshot is an online network created specifically to help small business owners tap into this new way of doing business. Through this new website, Slingshot allows small businesses to make powerful connections, attract new customers, and connect with other businesses in their community.

Slingshot members create free online business profiles that can include not only names and locations, but also details about products and services. From posting photos of past projects that demonstrate results, to providing customers with discounts to Slingshot members, businesses have a variety of ways to advertise and promote their offering. In addition to the detailed profiles that are posted and managed by Slingshot members, there is also a searchable directory that includes area small businesses.

“When it comes to generating business, leads and referrals are critical, but finding the right ones can be challenging because people don't always know where to find businesses they can trust,” said Barry Moltz, entrepreneur and nationally recognized author of You Need to Be A Little Crazy: The Truth about Starting and Growing Your Business and Bounce! Failure, Resiliency and the Confidence to Achieve Your Next Great Success. “Slingshot is a powerful business tool because it enables customers to find your business, rate your products and services, and even recommend you to other potential customers.”

Denver, Raleigh and other small businesses interested in learning more or joining Slingshot can visit www.joinslingshot.com.

About Capital One
Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries collectively had $83.0 billion in deposits and $151.4 billion in managed loans outstanding as of December 31, 2007. Headquartered in McLean, VA, Capital One has 742 locations in New York, New Jersey, Connecticut, Texas and Louisiana. It is a diversified financial services company whose principal subsidiaries, Capital One, N.A., Capital One Bank, and Capital One Auto Finance, Inc., offer a broad spectrum of financial products and services to consumers, small businesses and commercial clients. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.

Capital One offers a range of products to meet small business needs, including small business credit cards, small business loans and lines of credit, and small business savings accounts. As the largest issuer of small business Visa credit cards, and the third largest lender of SBA loans, Capital One provides specialized support designed to make it easier for small business customers to manage their finances so that they can focus on what's important to them. Capital One small business products are available via direct mail, www.capitalone.com/smallbusiness, phone (800.926.1000) and fax.

Contact: Steve Schooff
Stephen.schooff@capitalone.com
972-378-8105