Dismantle Operational Silos and close more deals with a connected Merchant Cash Advance Solution
LendFoundry Merchant Cash Advance 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 fasttrack and close more deals through submittal, underwriting, funding, and repayment.
Modular Merchant Cash Advance Software
Low-code modular architecture powers the platform to offer a high degree of reusability and ease of customization to build solutions tailor-made to suit unique business requirements. Deepen your customer relationship with the power of personalized omnichannel contextual experiences.
Our Features
For your Business Customer
- Online all the way for a seamless truly digital paperless experience
- Reduce the time between apply to book from days to hours.
- Multi Channel application input support for easier lending
- Borrower self service portal for transparent tracking through the application process and loan lifecycle
- Configurable mobile and email management to automate notifications
- Event driven Statement of Account and Loan Closure document generation
For your Loan Origination
- Connection with key credit risk analyzers, bureaus, watchlist, financial statement providers etc. to establish pricing and decision models with optimal loan risk .
- Co Borrowing through multiple owners’ verification
- Streamlined workflow with configurable approval cycle and factor rate calculation
- System driven consent capture & communication for speedy funding
- Easily configurable loan terms and pricing
- Custom Workflows to support Credit & Risk Assessment
- Quickly launch new loan products on same single platform for easy onboarding
For your Loan Portfolio
- Configurable Payment Hierarchies to align to business events
- Integrate with card and ACH payment gateway APIs with daily, weekly, and monthly remittance schedules.
- Easy to configure additional discounts or fees on loans
- Stop, skip and delay payments while maintaining yield targets.
- Configurable mobile and email management to automate notifications
- Event driven Statement of Account and Loan Closure document generation
For your Business
- Secure & Scalable Platform
- SOC Type 1/2 certified
- API for seamless integration with existing and future technology environment
- Broker Portal for ecosystem partnerships and affiliate agents
- Same day decision and funding, with a full packaged application
- MultiLingual capability
- User credential and role based access
- Complete transaction log generation and storage for future audit purpose
- Integrated document storage with classification and access control
- Comprehensive Reporting and Analytics for current business requirements and support long term business vision
Frequently Asked Questions
Merchant Cash Advances help inject cash into businesses faced with a negative working capital situation or are on the brink of going out of business. Although it is one of the many different working capital funding options available in the market, yet it remains the frontrunner in providing business owners with some much-needed breathing space when it comes to immediate liquidity.
Merchant cash advance lenders give small business owners the advance in exchange for a daily percentage of their debit or credit card sales. While the percentage to be deducted is fixed, the amount is not. This reduces the pressure on business owners to meet a daily sales target for repayment requirements. In a separate scenario, the borrower repays equal withdrawals daily or weekly based on estimated revenue. This scenario is easier to implement in a merchant cash advance software since charging a fixed amount based on estimated revenue does not have to monitor transactions.
Although merchant cash advance is not a new concept when it comes to working capital cash injections, the way these advances are currently processed and handled has changed significantly. This has been possible thanks to merchant cash advance software and merchant cash advance lending platforms that have made it easier for advance providers to churn and approve applications more quickly and decide on the percentage fee more accurately, thereby reducing risk for both the merchant cash advance companies and the borrowers.
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.
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.
The Merchant Cash Advance portal can be customized with role-based access controls and user-friendly management dashboards. 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.
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 a one stop future proof solution.
On the Loan Management side your customers get a self-service portal offering a single window view of their loans, payments, statements and also facilitates periodic, timely communications. Integration with payment processors provides an automated channel for repayments. For your support teams, they get everything required at one place and access to dashboards to manage loan portfolios efficiently. For your business, it provides Analytics and AI tools to identify the next best upsell and cross sell opportunities.
Built using a low-code modular architecture, the platform offers a high degree of reusability and ease of customization to build solutions tailor-made to suit your unique business requirements.
