Last modified: September 28, 2013
By: Sean Murray
The Merchant Processing Resource (MPR) has learned and confirmed that New York based funding provider, United Capital Source (UCS) has provided financing to a medium-sized business in the amount of $1,250,000. While the parties have requested to keep certain specifics of the arrangement under wraps, the business is involved in the sale and repair of highly specialized equipment, and has operations and headquarters in multiple states.
While it was not structured in the traditional Merchant Cash Advance sense, it is believed to have been set up with fixed payments. UCS has received a lot of attention in the last six months due to the wide variety of clientele they are servicing. With deals ranging from a few thousand dollars to over a million, they are quickly becoming a top choice for any business in need of capital.
MPR has been doing research to quantify the size of the Merchant Cash Advance industry. In a recent article, the term itself was redefined. We’ve known for some time that there were some larger advances/loans being done within the space but not all of them are being publicized. What we’ve discovered is that it is not unusual for deals to reach as high as $2 million. The recent media attention on CNN and FOX is also an acknowledgment that the Merchant Cash Advance concept has penetrated the mainstream and is no longer an alternative, but the standard.
- The Merchant Processing Resource
Sean Murray is the founder of Merchant Processing Resource, the co-founder of the Merchant Cash Advance forum, DailyFunder.com, the developer of the first Merchant Cash Advance industry iPhone and Android apps, and a moderator of the Small Business community on Google+. Learn more about his Merchant Cash Advance background on LinkedIn or follow him on Google+.
You might also like:
Publisher: Merchant Processing Resource
The Merchant Cash Advance (MCA) industry is riding high from a stream of recent publicity and investor interest. Billions of dollars are pouring into the market and some companies are desperately trying to upgrade their software platforms to keep up with the growth. With more exposure comes new curiosity, and not all of it is [...]
The days of seeking and being approved for a line of credit on your signature and a good credit score are over, but it is still a good idea to have access to cash when you are a small business owner. As a restaurant owner, I have been surprised more than once by a cooler [...]