[mcaguru]

The MCA product is and always will be about speed. If you remove yourself from the trenches of daily business for a second (sometimes it can be hard) and really think about it, the ability to offer a business owner $20k, 50k, 250k of cash wired into their bank account within a few hours is an INCREDIBLE thing. God bless American ingenuity! The product is pricey because it's risky. It's risky because underwriting is light. Underwriting is light because it HAS to be in order to maintain speed to funding which is where this product holds its biggest competitive edge. Banks have the ability to offer cheaper products for many reasons, but partially because they get a MUCH deeper look into a business, get more documents and data points to review, and take a much longer time to make credit decisions. This allows them to make more calculated decisions. There is a place for cheap products that require grueling review processes. But there is also a place for a (still) revolutionary product that allows a business owner to pay a premium for not getting a financial colonoscopy, several site visits, financial reviews, lengthy interviews, requirements for collateral, etc.

Your gifted pen to paper!!