[Businesscap]

Does anyone know of a good, robust Merchant Cash Advance Software for Direct Funders?

Key needs include:

1. Good workflows and work rules for Sales, CA's, Underwriting, and funding files.
2. Monitoring daily remittance via ACH, Lockbox, Split funding repayment methods.
3. Access portal for merchant and clients during process and remittance.
4. Web Based

We have looked at both FundPerfect and Invogen so far but want to see what else is available in the marketplace.

Your input would be appreciated...Thanks.

[BigBruce]

Have you looked into MCA Track?
It offers: Merchant / ISO access, Syndicators, automated split payments, automated ACH payments, and it's all web based.

Feel free to email me at: Bruce@swipeBMS.com or give me a call at 212 444 9566

[Businesscap]

Have you looked into MCA Track?
It offers: Merchant / ISO access, Syndicators, automated split payments, automated ACH payments, and it's all web based.

Feel free to email me at: Bruce@swipeBMS.com or give me a call at 212 444 9566

Thanks for your response!

I could not find MCA Track when I searched google. Is there another name for it?

[Businesscap]

I just found MCATrack.com buts its just a login landing page and does not identify manufacturer or any information.

[sfscapital]

BusinessCap - All of the software providers you are speaking of are selling software solutions but aren't in the MCA business. This business has many moving parts and to truly understand it you need to actually perform the tasks every day.
Right now the gold standard for servicing software platforms is still Strategic Funding's "Colonial Funding Network" (CFN). We ARE a direct lender and process over $50M per year for independent MCA companies alone. No one understands the business better that those who do it every day, not just write software for it. Upgrades and modifications are a regular event particularly as the industry and product offerings evolve. In fact, a number of the companies you see here on the DailyFunder forum board their merchants on a "White Label" version of our platform. We also provide full IT and operational services internationally with partner companies as far away as Sydney Australia.
The advantage of managing your business on our CFN enterprise platform is that you get to leverage our investment in development plus our experience in having funded thousands of merchant accounts and processing hundreds of millions of dollars. The system can be adapted and modified to your specific needs. Some companies have a minimalist approach with us doing a great deal of the back office work and others have fully operational database that is serviced, upgraded and maintained by our IT group. All functions report directly to the web portal.
Our automated system integrates with most processors for MCA products. We also provide Lock Box access through our banking relationships and have a fully automated ACH platform that debits and records all transactions for deposit based financing. As the first company to offer Syndication to our Sales Partners, our platform is the only one that collect and pays our syndicate investors every day and can split payment to any number of partners.
We would he honored to give you a tour of the system and discuss the many options available to you. You can contact our COO - David Sederholt at DSederholt@sfscapital.com to set up a tour.

[BigBruce]

MCAtrack was created for funding providers and to be as generic as possible for branding purposes.
Make some time so we can speak (212 444 9566) regarding MCAtrack’s capabilities or feel free to email me directly Bruce@SwipeBMS.com

[MCAVeteran]

I will agree with above that syndication is a large part of the business. There is alot of cofunding going on in the marketplace and not just with SFS. There are other funders doing this as well with their own internal platforms built to support it now.

Where we wont see syndication is on the loan product which is a regulated/compliance product through actual chartered banks. Maybe that will change but for now, it appears thats not avail on loans.

[Alan]

We are a Information/Technology Company and we are a service provider for the cash advance industry. I would like to speak to you further about your company's needs and how our technology will help streamline your business. We know the cash advance business, that's all we do!! We provide you with a staff and service your account from front to back on a fully reporting platform.

Alan
alan@psc-1.com
407 227 2750

[cashguy]

SFS actually 1mf & Capital Stack also have daily remits/reporting to syndicate.

[cashguy]

Who's PSC anyone use them??

[Chambo]

I will agree with above that syndication is a large part of the business. There is alot of cofunding going on in the marketplace and not just with SFS. There are other funders doing this as well with their own internal platforms built to support it now.

Where we wont see syndication is on the loan product which is a regulated/compliance product through actual chartered banks. Maybe that will change but for now, it appears thats not avail on loans.

Correct. the On Deck's and the IOU's of the world just sell off the note upon funding (and take their mgmt fee)

You didn't REALLY think IOU Central took all the risk on a 12 month 1.15, now did you?

[Businesscap]

Thank you everyone for the feedback but the request was for MCA funding software.

We have been syndicating for sometime with many of the well known funders and are familiar with many of the platforms mentioned in this thread.

We will continue to syndicate but we are also able to fund and want to improve on the existing software we have been exposed to...

Thanks again for any input.

[BigBruce]

That is precisely what MCAtrack is. A software for funding providers.

It offers -among other things- the ability for you to track all of your split or ACH payments as well as having syndicators in your own deals; all within a nice and easy to use system. It also includes a tool to control the managing fees that you may or may not want to charge your syndicators.

It was built for funding providers so they can control their own deals, while allowing access to underwriters, iso's, syndicators, merchants and reps.

There is a lot more, but this should give you some idea of what it is.

[BigBruce]

MCA Track had its first industry insider review:
www.merchantprocessingresource.com/2013/07/mca-track-a-merchant-cash-advance-back-end/