We were approached by a merchant cash advance funding company back in 2009 to help build a customer relationship management (CRM) system to replace the ACT! Database and spreadsheets they used to keep track of deals. Our initial response was to assess the current marketplace to help find a suitable software solution for our client. We had no intention to reinvent the wheel, as the CRM market was pretty well-established.
Our first recommendation was to look at leading hosted CRM providers. The hosted CRM providers either provided for generic contact management capabilities or were focused on lead generation. They did not have the features unique to the merchant cash advance industry or merchant cash advance process. We then turned to loan underwriting software solutions, which in principle are very similar to merchant cash advance deals. However, our team and client found loan underwriting software to be rigid and very focused on the loan underwriting process. Consequently, we embarked on a journey to design a merchant cash advance application to meet our client’s needs.
We worked closely with our client’s staff to gather business requirements and immersed ourselves into the merchant cash advance business. With our strong technical background, we architected a scalable merchant cash advance solution to manage our client’s growing portfolio. Our team continues to support this solution today. We also continue to provide enhancements to support the evolving merchant cash advance industry.
Using the experience gained from designing and building a merchant cash advance solution from the ground-up and scaling it to meet our client’s needs, we have modified this application to create MCA Suite. MCA Suite contains the core features required for any merchant cash advance broker or funding company, plus adjustments to address the drawbacks we observed while supporting the initial CRM system.
MCA Suite aims to be the one-stop, all-encompassing platform to help brokers and funding companies manage their contacts, documents and deals. Our team is committed to adding new features to MCA Suite and making it the platform of choice for the merchant cash advance industry.
We welcome suggestions and feedback. Please do not hesitate to provide us with your comments.