Welcome To New North American Merchant Advance Association MembersSeptember 13, 2011 | By: Sean Murray
American Finance Solutions welcomes the addition of five new members to the North American Merchant Advance Association (NAMAA). The recent addition increases the amount of total companies by almost 50 percent and now NAMAA includes almost all reputable players in the industry. The one lone dissident continues to be Advanceme.
Now if you’re selling or marketing merchant cash advance or work for a funding company, you may be asking yourself, “What’s the big deal?” There are quite a few reasons why this is significant step for the whole industry:
1. Robust “bad merchant” database – If you sell the product, the first thing NAMAA members do when receiving an application is check it against the database. This saves you and your staff from wasting time and resources on known fraud and defaulted merchants.
2. Unbiased communication lines between funding companies – All NAMAA members have made a pledge to exchange true information on merchants and play fair. So often when American Finance Solutions calls a little player for a payoff amount confirmation, we get the run around. Meanwhile…
Read this full article by Scott Griest of American Finance Solutions HERE.Last modified: September 28, 2013
Sean Murray is the founder of deBanked, an 11-year veteran of the merchant cash advance industry, a casual Lending Club and Prosper note investor, the co-founder of Daily Funder, an alternative lending speaker, consultant, writer, and enthusiast. Connect with me on LinkedIn or follow me on twitter.