Open Letter to MCA Funders
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  1. #1
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    Open Letter to MCA Funders

    We are looking for 4 - 5 funders to work with to receive our deal flow for our upcoming alpha launch in the next couple of weeks.

    Our mission is two fold:

    1. Deliver funders - EXCLUSIVE deals based on each funders' individual underwriting criterion. When we deliver a deal to your desk - you will not have any competition. If one of our deals ends up on more than one funders' desk - we've failed. Miserably.
    2. We will spare merchants from excessive credit inquiries and closing costs and at the same time give them choices. Our mission is to get them as close to wholesale rates as possible - thus increasing the number of contracts that are ultimately signed - while also decreasing default rates.

    Funders you should know the following about the type of deals we'll be sending through:

    1. Most of our deal flow will be sourced via face-to-face contact. We have some exciting business development deals in the works - all involve the merchant receiving the "white glove" experience. We engage by offering substantive value first. Additionally, merchants will be encouraged NOT to get an MCA at all initially - so all applicants will have exhausted other options. They will arrive at your desk - ready to go.
    2. They will have already pre-selected you. It's like buying a can of soup at the store. After you have made your selection, what percentage of the time do you reach the checkout counter, turn around and put the soup back? It surely happens - but rarely.
    3. We will gain merchants trust that they wil be placed in the right hands.
    4. It's free to get into the system for the alpha launch.
    5. We get paid a flat fee per each deal, regardless of deal size. So rather than writing a commission check for $10k on a $100k funding, you're paying a fraction of that. Pennies on the dollar.

    If you are interested in discussing this further - please send me a note. There are about 30 funders out there but we can only bring in 4 to 5 at this time. As we continue to aggressively put together offline biz dev deals and the volume increases, we will let additional funders in - incrementally.

    We're rabidly obsessed with mastering every detail of the end to end user experience, so we'll kindly ask your help in providing the type of experience that business owners will go back into their communities to talk about. All this does is generate more organic deal flow for you.

    We will remain in alpha throughout the spring and open the platform in beta to the entire industry in June or July.

    Thanks!
    Last edited by JayBallentine; 01-26-2014 at 10:24 PM.

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