One of my merchant customers called me recently asking for a cash advance program. This is something that we have thought about doing but have put off because of more "important" projects. Now, time is of the essence to provide this service to one of our good and long-time customers.
Of course, the first place to go was The Green Sheet. I picked up a few recent issues of the magazine and made note of each cash advance provider. I called each one. Every call I placed to an advertiser for cash advance services went to voice mail, except for one person who answered and offered to take a message and then "pass it along"!
A few times when I called back, I bypassed the voice mail system to get an operator who then told me that "so and so was out" or transferred me to someone else's voicemail.
Come on Green Sheet advertisers! There are people like me ready to buy your services. Answer the phone!
Alaska ATM Service
Thank you for turning to The Green Sheet for your research. We regret that you have had difficulty in getting the information you seek in order to select the best cash advance program for your customer.
With customer service being more important now than ever, I'm sure your experience will be eye-opening for those who would like to help provide you with such a program.
Try contacting the North American Merchant Advance Association, www.northamericanmaa.org. Founded in April 2008, the organization exists to promote best practices and ethical standards in the cash advance industry.
Also, if you ask members of GS Online's MLS Forum for information about cash advance programs, you're bound to get some speedy responses, including first-hand experiences members have had with cash advance providers. To join the Forum, just click the Register Today! link in the upper right hand corner of our home page, and follow the prompts from there.
Do you have a list of merchant cash advance companies in the United States, as well as any information on merchant default rates on cash advances across various industries, such as restaurant versus petroleum.
Unity Investment Partners
As far as we know, there is no list of U.S. companies in the cash advance sphere, which has expanded rapidly in recent years. We also do not have information about comparative rates of default among merchant categories.
If you visit the North American Merchant Advance Association's Web site, www.northamericanmaa.org, and access the organization's contact page, you can use the form provided to request information about its members, as well as data, if any, it may have regarding default rates.
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