[MCNetwork]

Hello,

I am interested in learning more about the underwriting process for an MCA. After having dozens of files declined, I have realized the amount of time I am wasting with these files. Would anyone care to share a quick formula to determine if a merchant is fundable?

Thank you,
John Smith
j.smith.mca.cash@gmail.com

Credit history is an important factor to consider and since you probably don't know his credit I'll give you a quick checklist of other items to go by to see if a merchant is fundable. Keep in mind that underwriting standards vary greatly from funder to funder but this is a good starting point.

1. Is the merchant's industry MCA approved (meaning it's not prohibited)? Y/N
2. Does the merchant do at least $10K per month in revenue on a consistent basis? Y/N
3. Has the merchant been in business for at least 6 months? Y/N
4. Does the merchant have less than 3 NSFs per month? Y/N
5. Is the merchant's average daily balance at least $500? Y/N
6. If the merchant declared bankruptcy in the past, then has it been discharged for at least 2 years? Y/N
7. If the merchant has open MCAs, is he making the payments consistently (not bouncing them)? Y/N

If you answered Y to all of these items and the FICO is above 540, then your merchant is most likely fundable (somewhere). If you answered N to a few of them, then you'll have a tough time getting an approval. And if you continue to use a gmail account to send in your submissions, then you might get declines just for that.