Results 1 to 9 of 9
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06-17-2013, 09:49 PM #1
- Join Date
- Mar 2013
- Posts
- 1
Software/Technology for small funder
What software platforms or solutions are available to help a small funding provider underwrite and service merchant cash advance and/or micro-loan deals? What are the typical pricing models?
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06-18-2013, 09:01 AM #2
- Join Date
- Jun 2013
- Posts
- 351
Are you looking for an internal solution to help stay organized or are you looking for something that can be used to also help communicate externally with your agents/ISOs? If it is an internal function, you want to make sure you use something that incorporates all sides of your business, underwriting, accounting, customer service, collections, etc.
I remember seeing a company at ETA and a regional show or two after it from 2 years ago, but haven't seen them since. IIRC they were the only company pushing a CRM for cash advance companies. It was good, but I have not seen it in action with an actual funding company.
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06-18-2013, 10:32 AM #3
- Join Date
- Mar 2013
- Posts
- 21
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@MCAtrack.com
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06-18-2013, 10:46 AM #4
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
Some lenders use Fundperfect by SysArc
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06-18-2013, 11:59 AM #5
I do not recommend Fundperfect at all.
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06-19-2013, 10:16 AM #6
- Join Date
- Sep 2012
- Posts
- 199
We built ours. It's sql backbone w/ ms access interface. There are +s and -s to ots and proprietary. We've been lucky because our programmer is quick and cheap. One of the big reasons we went proprietary is to keep merchant data safe. Outside access is VPN only and the server is on site. I'm probably paranoid coming from the mortgage world. We had to protect data or the state regulators would breathe down our necks.
I haven't seen an ots system that fits what we need and I can't imagine it's easy or cheap to customize an already built system. We don't have an iso channel so we don't need web access for deal tracking. The only service we have that is browser based is for our clients to pull statements on their own. It's still being built but it's pretty simple. Merchant goes to the landing page, enters account # and PW, and a pdf statement pops up for them to save.
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06-19-2013, 11:12 AM #7
- Join Date
- Jun 2013
- Posts
- 293
I haven't seen many systems out there that have all the tools you need as both a funder and ISO. Most of the systems are for financial tracking and reporting and data entry. AMI has supposedly offered other funders the opportunity to use their reporting and underwriting platform in exchange for funding participation. I hear it gives you the ability to use their Loan program as well.
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06-19-2013, 11:32 AM #8
- Join Date
- Mar 2013
- Posts
- 6
Software/Technology for small funder
MCA TRACK
Is a BMS-Run online system
You can track you portfolio paybacks
Manage deal flow daily
Create unlimited user id for you Iso's ,Merchants,syndicators,investor or any type of contact.
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06-19-2013, 01:03 PM #9