Press release
1st Merchant Funding Announces Alliance with First Data
Merchant Cash Advance
First Data Merchants now have the opportunity to receive alternative financing for their business and repay it through their future credit card sales. Bad credit, damaged credit, or even no credit, First Data merchants can now qualify for a cash advance almost instantly.
1st Merchant Funding, innovators of the "Starter Merchant Cash Advance Program" can now provide working capital to all First Data merchants accepting credit cards on the Omaha platform. This highly popular alternative financing product has proven to be effective to merchants in strain of or limited by capital to grow their business. "We changed the way underwriting is executed in the MCA industry for the better" says Michael Hollis, Director of Business Development at 1st Merchant Funding. "Many Merchant Cash Advance providers became greedy in their approval and underwriting process, turning down merchants based on the owners blemished personal credit history". In this market a common reason for declines are that business owners can be losing their investment properties, made bad real estate mistakes, and in result credit can become affected almost immediately. Regardless of whether the merchant has a performing business or not, bad credit constitutes applications getting denied daily. 1st Merchant Funding saw this as an opportunity to strictly judge a business by its performance, and not by the operators credit history.
A unique underwriting model allows agents and Independent Sales Offices and other sales channels to underwrite the merchant cash advance paper they originated. In result the merchant receives instant approvals from a pre-approval matrix based on the merchants performance and credit card sales volume.
An alliance with First Data was created to expand our market reach and cater to those merchants with lower tier credit processing on the First Data Omaha platform.
Originators of the Merchant Cash Advance Decline & Starter Advance Program. America's Largest Funding Source for Declines!
Daniel Hein
1135 Kane Concourse
3rd Floor
Bay Harbor Islands, FL 33154
Press Contact: dhein@1stmerchantfunding.com
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