[jaynyone]

Anyone out there have any tips on how to compete with AMEX? I lost one deal to them and someone I just spoke with who is ready to apply told me they were also in talks with AMEX. I have an inexpensive lender that I think they will get approved with, but it will still be higher than AMEX. What parts of their program could be detrimental to a merchant besides being obligated to be 100% paid before any additional funding can take place?

I'm still a little new to the sales side of this since I come from an underwriting background, so any advice would be greatly appreciated.

[Funder Mark]

Thats the main point I would imagine. If their credit sales slow down, it can be a while before they could get additional funding through Amex. With an advance through another party, you leave yourself more options.

[SuperFunds]

I know they used to only be able to give them credit for their Amex sales leading to lower approval amounts. Not sure if this is still the case, but if it is then they would be at an advantage going for an MCA that will give them credit for all cc activity and not just one portion of it.

[MCAVeteran]

Amex has multiple products- they have a program that allows repayment from Amex sales only, a product that allows all cards to be used through a transfer account they setup with Wells Fargo , and, a 1-2 yr term loan product that achs the merchants bank-

[ElisaMVF]

look into what happens if they don't pay it back on time. Before they used to take all sales until it was...that was my understanding from a client.

[jaynyone]

Merchant is looking at the 1-2 year term loan product(s). It's a sizeable deal that I know I can get approved - it's just a matter of weighing the pros and cons against AMEX's product(s).