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Reshaping the Face of the Merchant Cash Advance Industry

30/08/2018 Uncategorized

 

Gone are the times when merchant cash advances were the borrowers’ first pick when it came to choosing an alternative lending product. Savvy merchants who keep up with the rapid updates in the world of commercial financing will tell you that like payday loans, these days MCAs come with high fees yet they remain the only option for bad-credit borrowers.

According to Andrew Mallinger of PIRS Capital, the Merchant Cash Advance industry kicked off as a product for clients that couldn’t obtain cash from banks for one reason or another, i.e., lack of collateral or bad credit. However, the surfacing of alternative lending and the growing popularity of platforms like OnDeck is changing is the public’s opinion on merchant cash advances.

“The world of commercial funding has evolved; today, MCAs don’t automatically mean exorbitant interest rates and related fees,” explains Mallinger. There are instances where the merchant cash advances …

30/04/2018 Uncategorized

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