First Data Omaha merchants that have lower than average credit to bad credit can now obtain alternative financing in the form of a merchant cash advance regardless of their credit.
1st Merchant Funding announces it’s alliance with First Data to offer it’s Flagship Cash for Decline Merchant Cash Advance program to First Data Merchants.
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, merchants can now qualify for a business 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. The niche is financing to business owners seeking a Bad Credit Business Loan
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.
More information can be found online at http://www.1stmerchantfunding.com