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11-21-2013, 04:11 PM #1
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NAB Advertising Cash Advance Program on Processing Statements of Converted Merchants
Has anyone noticed that NAB includes a big, colorful flyer on its merchant statements for their Cash Advance program? Conflict of interest I would think. Why would someone submit volume over to future competition?
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11-22-2013, 08:56 AM #2
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- Gainesville Florida
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I have also noticed that CFM is now putting on the splits when it use to be on the NAB side that the splits were put on.
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11-22-2013, 09:19 AM #3
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I've had the same contact at CFM for splits for years now. I think that side has always been in charge.
CFM isn't stiff competition typically. Their direct rates are no better than what a broker can do and still make a fair commission.
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11-22-2013, 10:16 AM #4
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- Jun 2013
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They are more set up to market cash advance to their existing NAB ISO base.
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11-22-2013, 02:38 PM #5
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- Apr 2013
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I just don't think it's good business. Integrity has been very adamant about not marketing MCA's, I would expect the same from a co. like NAB.
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11-22-2013, 04:29 PM #6
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That's only because Integrity split funds with 100 different funders. NAB only split funds with CFM.
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11-22-2013, 04:30 PM #7
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What's CFM
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11-22-2013, 04:32 PM #8
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- Sep 2012
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- New York, NY
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Capital for Merchants. They are the same company as NAB.
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11-22-2013, 06:03 PM #9
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- Apr 2013
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I thought all the major funders split with NAB.
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11-22-2013, 07:00 PM #10
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- Jun 2013
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- 351
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11-23-2013, 10:24 AM #11
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- Sep 2012
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NAB will split with any cash company big or small. It takes less than a day to get set up with them.
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11-23-2013, 02:28 PM #12
Lots of processors split the cash advance repayment- the difference here is most are not in the mca space competing. If your going to split fund for several funders it's best to not enter the space as well as a direct funder IMO-
Last edited by MCAVeteran; 11-23-2013 at 02:28 PM. Reason: Typo
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11-23-2013, 03:00 PM #13
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- Sep 2012
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- 72
didn't evo and merchants capital access used to be one and the same company?
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11-23-2013, 06:59 PM #14
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- Jan 2013
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- 151
NAB Advertising Cash Advance Program on Processing Statements of Converted Merchants
Evo financed them for awhile, but that relationship ended some time ago.
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11-24-2013, 02:39 PM #15
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- Apr 2013
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Interesting to note, Benchmark Merchant Solutions (located in Brooklyn NY) processes for Yellowstone Capital. As well Benchmark Merchant Solutions/BMS also invests as a syndicator in many of Yellowstone Capital's deals. More interesting, Benchmark Merchant Solutions also owns their own funding company called "Funding For Merchants"....i get why this would be somewhat worry-some for brokers and reps who are sending their deals to a processor who is also a funder and well connected and invested in a ISO/Funder...
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11-24-2013, 03:16 PM #16
NAB Advertising Cash Advance Program on Processing Statements of Converted Merchants
Wow Sanderson...what's with the pot shots...business slow over there????
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11-24-2013, 03:18 PM #17
NAB Advertising Cash Advance Program on Processing Statements of Converted Merchants
As a response to Sanderson's post...Bms and FFM are top notch people and anyone doing any business with either group have absolutely nothing to worry about.
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11-24-2013, 04:04 PM #18
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- Apr 2013
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- 3
It's not a pot shot. Was just pointing out that BMS is similar to Integrity and NAB in that they are a processor that does a significant amount of split funding. They also compete with their funders and Isos by operating their own cash advance business
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11-24-2013, 05:01 PM #19
NAB Advertising Cash Advance Program on Processing Statements of Converted Merchants
You brought them into a thread that they were not mentioned in and You know exactly what you were insinuating and it could not be farther from the truth...The owners of BMS and FFM are all stand up people and I and my company are proud to say we consider them true partners!! Anyone looking for a referral for Bms or ffm call me directly
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11-25-2013, 03:53 AM #20
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- Apr 2013
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I appreciate hearing who has what relationships. I don't think Syndicator is necessarily implying anything; just that you never know in this industry. I've had merchants who have never done a cash advance with no UCC filings from any MCA companies, and yet will still get called "coincidentally" after I submitted their application for processing.
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11-25-2013, 05:15 PM #21
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- Sep 2012
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- 75
Eli - "Thesyndicator" - I am not sure where you get your "facts" from so let me clarify.
I am not familiar with how the other processing companies are managed, but I can tell you that Benchmark or any other affiliated companies do not have our own in-house sales force, so we do not and could not compete with our funders, ISO's or reps, nor do we advertise for funding at all. Not on statement messages, no online advertising and not on our website - nothing at all. If a call or request comes from our merchant base - that request if forwarded to the ISO on file.
What I also can confirm is Benchmark does not involve itself with funding companies beyond the Processor/ISO and split funding relationship. The only other partnership we have with Yellowstone is with this year’s fantasy football for charity. See link: http://www.reuters.com/article/2013/...61+PRN20131121
If there is anything that I can do to further assist you or if you have any genuine questions or concerns please email us and I will address them.
As our over 100 funders who we split for can attest to, we go way and beyond to be their processing solution and split funding partners. We thank them for their business.Last edited by Benchmark; 11-25-2013 at 05:36 PM.
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11-26-2013, 01:56 PM #22
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02-26-2014, 11:57 PM #23
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- Feb 2014
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- 1
Hi finance1 I have a Q for you if you don't mind, I see you mentioned in one of your posts you are an ex mtg guy: I am still in the mortgage biz as an LO but am getting really sick of it and am now doing commercial mortgages and would like to start MCA now so I will have something going on when the bond yields go up.
Would you say that MCA is more difficult to sell than mortgages? It is hard to say, I'm sure, because I am familiar with the mortgage business and pricing in that area. What do you think? How does it compare?
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02-27-2014, 10:59 AM #24
Yea, I was about to say... I've done deals that the merch was with NAB and I didn't fund with CFM...
Also, what is the difference (if any) between Capital For Merchants and Capital For Merchants Now??? Anyone? (I have been trying to wrap my head around that for a long while now)
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02-27-2014, 02:02 PM #25
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- Jan 2014
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- Denver, CO
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