Based on our merchant cash advance broker/ISO customers’ feedback, MCA Suite is pleased to introduce three new stages to help improve the management of deal flow. The new system generated stages enable managers to see where each deal is during the merchant cash advance sales pipeline. The stages will only be available for our clients with the submissions module.
The new stages are:
1. Submitted – a stage that denotes a Broker has submitted the Merchant to at least one Funder for consideration. This will automatically be created when a submission is created for a deal.
2. Has Offer – a stage that denotes an offer has been received by a funder. This will automatically be set when a submission offer is entered into the system.
3. Contract Out – a manually set stage created when the Broker denotes a contract has been sent from the Funder to the Merchant for review and execution. This can be accomplished by clicking the Contract Out button on the submission page.
Please refer to this knowledge base article for more details on how MCA Suite handles generated stages and how stages are different from statuses.