MCA Suite is pleased to announce the following enhancements built to satisfy the requirements of merchant cash advance (MCA) brokers and ISOs:
1. Improved Funder Submissions process – MCA brokers and ISOs can now disseminate all merchant-related information directly from MCA Suite to a merchatn cash advance funder/lender. MCA Suite offers a few ways for brokers to send and track submissions made to funders.
a) Manual Tracking – the current method to track deals (merchant information) submitted to a funder for consideration.
b) Email with the Attachment – Brokers can select a number of funders (from a list of all available funders saved in MCA Suite) and merchant documents (such as bank statements, processing statements, etc. uploaded to a specific deal), and send all that information directly from MCA Suite to multiple funders. Brokers no longer need to download documents from MCA Suite and other places and open up their mail client (i.e., Outlook) to re-attach documents to be sent to funders using the “blind carbon copy” (BCC) function. After the merchant information is sent to the funder, brokers can use MCA Suite to track offers received from funders, and enter status notes related to the particular submission.
c) Email with a Link – Similar to emailing funders with attachments, brokers can also send funders a link to access files related to the merchant — similar to sending out a Dropbox link. This approach eliminates emailing large attachments that are often rejected by funders’ email systems. Using the “Email with a Link” option, brokers can send a unique, password-protected link to a funder. When the funder receives the email, s/he will be directed to a secured location to pick up the files related to the merchant.
2. Qualifying Lead Sheet – Merchant Cash Advance brokers and ISOs with a telemarketing sales team can now create lead sheets to pre-qualify merchants interested in obtaining cash advances. Brokers using MCA Suite can customize their telephone scripts for telemarketing agents to capture key information about the merchant before taking the merchant down the application and underwriting path. All information recorded by the telemarketing representative is saved as a part of the Deal in MCA Suite, and can be used as a reference during the underwriting process.
3. New user roles and ability to group users into teams – MCA Suite has the following four new user roles:
a) Telemarketer – a user with restricted access only to the qualifying lead sheet information.
b) Chaser – a user responsible for helping the merchant complete the merchant cash advance application process, and for collecting multiple documents to support underwriting.
c) Team Leader – a user responsible for managing the team and submitting merchant information to funders.
d) Manager – a user similar to an administrator, with access across multiple teams.
Users can be grouped into teams where security and permission settings are specific to that particular team (i.e., not shared across all teams). Team-level security alleviates the need to reassign user permissions whenever users are removed or promoted from one role to another.
Our team will continue to make improvements to MCA Suite to better support merchant cash advance broker and ISO operations. Please contact us via our social media channels or email to see our new features and how we can improve your operations. We value our current and potential customers’ feedback and always welcome new suggestions. Please keep them coming.