Follow us at the ETA Expo

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May 3, 1:00am: I underestimated how easy it would be to make frequent updates. Wednesday was fantastic. I uploaded a couple dozen photos and updates all at once earlier today over on DailyFunder. As soon as the show was over, I found myself on Bourbon Street at the Discover party followed by the Priority Payments party. Both were a great time.

My Recap of the show is up now: ETA Expo Recap

Soul Mates: Merchant Cash Advance and Silicon Valley VCs

Original story about On Deck Capital’s investment from Google Ventures and Peter Thiel

My theory on why On Deck Capital took a paltry $17 million from Google Ventures and Peter Thiel

Photos and updates from the ETA
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May 1, 1:00am: Great start to the show this evening. Merchant Cash Advance providers and alternative business lenders continue to have a very strong presence in the payments industry. The booths I saw include: RetailCapital, NextWave Funding, Merchant Cash Group, On Deck Capital, Capital Access Network, Strategic Funding Source, American Finance Solutions, Swift Capital, MotherFund, and Principis Capital. GRP Funding and Paramount Merchant Funding are also on the exhibitor list but I didn’t spot their booths yet. That’s pretty substantial and it omits the major presence of Merchant Cash Advance companies that aren’t exhibiting. I bumped into Merchant Cash and Capital and walked the floor a bit with David Rubin of Capital Stack.

I met the guys behind Super G Funding which lends money against residuals. They’re great guys and they have such a unique role in the industry.

I think every funder I spoke with was quick to mention that they do 12 month deals and either offer direct debit repayment or will have it soon. The ACH train has disrupted the split-funding market pretty severely though many funders continue to do big numbers via split.

Nobody seemed to have an appetite for low FICO score deals (500s and below) except for Merchant Cash Group and Capital Stack which target the higher risk market intentionally. And when I say “don’t have an appetite for,” I literally mean when asking a funder if they do below 500 credit, the answer is some version of “HECK NO!!”

Overall tone, and perhaps its because opening night included open bar, but it was very optimistic. Most funders seemed intent on expanding and are eager to service as much business as possible. I definitely get that sense that there is a real focus these days on the bigger fish ISOs ($1 million+ in referral business a month). When newbie brokers enter the space, funders spend an enormous amount of resources developing them and many times they just don’t pan out. Either the brokers don’t have the capacity to do more than a handful of deals, or they just don’t “get it.”

If you’re a mom and pop ISO and you have just 1 or 2 deals a month, it’s more difficult these days to get time and attention from a funder. Capital is flooding into the industry and everybody wants partners that can produce volume. From a resource standpoint, the “1 and done” reps are not an efficient use of time.

Big ISOs have a lot of negotiating power at their disposal these days. In the last 7 years, it was good to be an ISO, then hard to be an ISO and now it’s good again. Many things in MCA have a weird way of going full circle. Hope to see you on Wednesday.
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Apr 30, 1:00am: new orleansMerchant Processing Resource will be publishing updates as often as we can from the ETA Expo in New Orleans. I am very excited to be down here. Earlier today I had the opportunity to eat beignets at Cafe Du Monde, visit the French Market District, and take a ride on the Natchez Steamboat on the Mississippi River. But starting Tuesday, it’s all business. A schedule of events can be found on the ETA’s website.

You can follow along with everyone else in town on twitter using #ETAExpo2013 or #ETAExpo13
and of course via the DailyFunder Merchant Cash Advance iPhone App.

Some pre-conference tweets:

ETA Expo 2013 on Twitter

pre-conference tweets

Storified by Sean M· Mon, Apr 29 2013 22:21:50

Heading out to #ETAEXPO2013 today. Look forward to seeing all our friends in #NewOrleansHeather
Setting up the @IngenicoNA booth at #ETAExpo13 pic.twitter.com/hc2xXnmn3nChris Smith
COME MEET US IN NEW ORLEANS AT THE #ETAEXPO2013 *booth#1053* Looking forward to seeing everyone there! @ElecTranAssocMerchant Funding
Our team is in New Orleans for ETA 2013 #ETAExpo2013 fb.me/26kUlf3TdSecureNet
At #ETAExpo13? Swing by our booths #816 and #1005. Demo #genius and enter to win up to $2500!Merchant Warehouse
Dave and Matt are waiting for their connecting flight, and Rob is in the air! #ETAExpo2013 here we come! #G2atETAG2 Web Services, LLC
We’re excited to attend tomorrow’s @ETA Meeting & Expo in NOLA | ow.ly/kqyQS #ETAExpo2013Biz2Credit
#ETAExpo2013 R you ready to see cool new products, excellent service, and awesome video? Stop by booth 616 tomorrow-SEE the FAPS difference!First American Paymt
Hey folks! Nick and Dan just left the office for New Orleans! Be sure to visit us at the #ETAExpo2013 for your chance to win an iPad mini!Instabill
Hidden spots in NOLA, cant wait to discover them #ETAExpo2013. Mobile meetup at Bachannal or Antique or Hidden Art Gallery? who’s in?Kevin Colaco
Some great #NOLA restaurants from our man in the know, @gregleos: @BrennansNOLA @CochonDining @Commanders_NOLA @arnaudsnola #ETAExpo2013ControlScan
Setting up the booth at @ElecTranAssoc. Come check us out tomorrow at booth 456. #ETAExpo13 pic.twitter.com/p8vv5QfUuSCardConnect
Let’s meet up at #ETAExpo13 this week! Contact our BD Team here > bit.ly/13H2owcMerchant Link
@NewOrleans one of my favorite cities. Good food and even better people. Great choice @ElecTranAssoc #NOLA #ETAEXPO2013 @controlscanGreg Leos
#ETAExpo13 Join David Talach, others from @Groupon, @PayPal. Tues. 10a.m. Investment Comm. Forum Rms 206/207.VeriFone
Finishing up setup at #ETAexpo13. Excited for the show tomorrow, stop by our booth #702 for an overview of our services! @ElecTranAssocTranzlogic

Here’s to learning, networking, and having fun!

– Merchant Processing Resource
http://debanked.com

Last modified: May 3, 2013
Sean Murray


Category: ACH Advances, business cash advance, events, Industry News, Loans, merchant cash advance, merchant financing, merchant funding, merchant loans, Merchant Processing, MPR Authored, peer2peer lending, social media

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