We are pleased to announce the release of the Submission Tracking feature for our merchant cash advance (MCA) broker customers. With Submission Tracking, brokers are able to track deals they have sent to funders and make sure each funder’s stipulations are met to help get the merchant funded. Brokers can create checklists based on funder’s stipulations, upload and store multiple documents and select offers accepted by the merchant for commission tracking.
Submission Tracking also introduces a new “status” type for MCA Suite. For reporting purposes, all deals will now have a “Submission Status.” Users will be able to add and modify submission statuses via the Administration section of MCA Suite. There will be a Notes section on each Submission Summary page; here, users can assign a status to new and existing submissions and add offer-related notes. This allows users to track the progress of each submission before a final offer is selected and the deal is funded.
Funders can also use the Submission Tracking feature to track deals sent to other funds (deals they decide not to fund themselves) or share deal information with syndication partners.
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