Merchant Cash Advance software platform provides an end-to-end advanced system for organizing and monitoring the varied components of the MCA process. It facilitates streamlining and automating the lead capture mechanism. That is a very important activity given efficient data at lead capture helps in all facets of the underwriting process. In the next stage the best merchant cash advance software helps engineer decision support systems, pulling data from central repositories or third party integrations for users to input bank statements, FICO data, and card processing statements to enrich borrower data and provide better inputs to the decision engine. These systems also contain funding calculators to determine terms for sales and loan repayment structures.
Next when a loan is disbursed the merchant cash advance software integrate with credit card and ACH payment gateway APIs for daily, weekly, and monthly remittance schedules. The solution monitors transactions, redemption processes and status updates. There are custom modules to manage commissions and payments to funding companies.
The system also has user account portals with role-based access controls and management dashboards. These portals are designed so that brokers can submit deals, investors can track performance metrics, and merchants can view repayment data.
The automated merchant cash advance solution also provides business intelligence on business health, tracking of commissions, along with reports and statements for investors.
What are the Benefits of Merchant Cash Advance software?
A Merchant Cash Advance Software helps lenders leverage their alternative lending business from competitors by unveiling meaningful insights from the application. The software helps to create a weighted score for a lead based on direct data like years in business, annual revenue, daily sales, industry etc. and derived data like bank statement analysis, FICO score, business social score etc. to provide a holistic input to the credit decisioning model.
The solution also helps in secured storage of documents submitted and generated during the application process. Customizable workflows provide the benefit of supporting new business strategies easily.
The Merchant Cash Advance Solution also connects the funding companies, brokers, and the merchants in the Merchant Cash Advance industry while being compliant with the regulations.
Once a loan is disbursed the Merchant Cash Advance software helps with payment solutions to track the transactions and update with integrated ACH or card payment processors. Additionally, users can schedule the recurring or single payments, calculate and automate remittances.
Different user groups like brokers to submit the deals, investors to monitor and manage the performance metrics, and merchants to view the data of the repayment can be configured.
Since, business decision-making is only as good as the information available, reports and analytics can provide interactive data reports in various formats that help business owners make informed decisions.
The Merchant Cash Advance software can also integrate with CRM or Marketing platforms to enable cross-sell or upsell using insights from the merchant cash advance software. Integration with accounting systems also helps in better bookkeeping for the business.
What are the advantages of using LendFoundry Merchant Cash Advance software?
LendFoundry Loan Origination and Management Software takes into consideration the critical requirements of integration with payment processors, management of underwriting and repayment, user account portals to provide a solution that appropriately balances portfolio risk and size. The platform is collaborative, supports multi-workflow, enables real-time decision making and is an end-to-end digital channel designed to track and manage deals through submittal, underwriting, funding, and repayment.
On the Loan Origination side automated processing facilitates speedy loan origination including decision support systems, pulling data from central repositories for users to input bank statements, FICO data, and credit card processing statements. The system can also contain funding calculators to determine terms for sales and loan repayment structures.. Api driven integrations with an ecosystem of data providers ensures borrower data enrichment as required for risk assessment and better decision making. Intelligent Automation helps to reduce mandatory manual intervention to aggregate information/ results from different data sources and update them on the loan software thus reducing chances of human errors. Our microservice architecture ensures a seamless integration with your existing and future technology environment making it inspect site a one stop future proof solution.