MCA Suite is pleased to rollout a new feature to allow Merchant Cash Advance (MCA) funders to group “funded” MCA deals and view multiple cash infusions made to a merchant as one consolidated cash advance deal. Our clients have been clamoring for the ability to track multiple cash advances made to a single merchant over a period of time that doesn’t involve a refinance (closing out one deal and starting a new deal) or treating multiple advances as individual deals with different end dates.
The “group deal” feature is based on our clients’ requirements. Funders who have made multiple cash advances to a single merchant can now group all the cash advance deals together and track it as a consolidated deal. To group deals, go to the Deals tab of the merchant record where you’ll find a listing of deals that are grouped and ungrouped. Check-off the ungrouped deals and click on the group button to create a new group.
MCA Suite is already tracking three stages of funding (what’s on the contract, what was actually funded and post funding/collection); grouping the funded deals allows our clients to view all the grouped deals as a single deal and view its profitability over the terms.
Please contact our support team for more detailed instructions on how to use the group deal feature.
You may also want to review our previous posts on how to refinance a cash advance deal and set up cash advance deals to be funded and collected in parallel.