We have revamped MCA Suite’s Deal Creation and Tracking pages to include additional merchant cash advance (MCA) metrics that are valuable for funders and brokers (check out our previous blog on Why MCA Funders Need MCA Suite). The new deal tracking metrics improve funders’ visibility into their funded deals. It offers funders the ability to view their investment, risk exposure, cash position and overall deal profitability. In addition, MCA Suite consolidates merchant cash advance deals that have been refinanced (or renewed) to offer an aggregated profit and loss view.
Below is a screenshot of our redesigned MCA Suite Deal Tracking page. You can find additional details on the new label definitions and calculation here: http://slidesha.re/16LYkgx
The new deal creation page contains two new additional fields:
1. Deal Category: This field allows our clients to categorize MCA deals for reporting purposes. More and more clients have been offering different types of business cash advance programs such as micro-loans, micro-credit, etc. Instead of creating a new deal type to meet reporting needs, MCA Suite users can use “categories” to differentiate each merchant cash advance program.
2. Expected Daily Amount: This field provides our clients the ability to calculate average daily receipts for a deal. Average daily receipt is the amount the funder expects to obtain from the merchant on daily basis. If it’s an ACH collection method, the average daily receipt is agreed upon between the merchant and the funder. If it’s a split funding collection method – where a credit card is used – the equation to calculate average daily receipt is (Average Credit Card Sales per month) times the (Split Rate) divided by 30 (Days). For consistent calculation, MCA Suite uses 30-days per month regardless of the number of days in each month. This is a fairly common practice in the finance industry.
We will continue to release minor enhancements over the next couple of weeks. We value all of our current and prospective clients’ feedback and suggestions. Please send us your suggestions via Twitter, Facebook or Email.