In a first quarter filing, Advanta Corp. reported robust growth in its small business credit card program, which was responsible for nearly 50% of the company's business compared to 43% for all of last year.

Pending approval from the Securities Exchange Commission, Advanta will begin accessing the public markets with its small business credit card portfolio, which is approximately $1.2 billion in size as of late March. The company expects to file an amendment and should receive notice from the SEC sometime in the third quarter.

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