MCC and BizFi Originate $115 Million in Q2July 20, 2015 | By: Sean Murray
Merchant Cash and Capital (MCC) and its family of companies including BizFi announced today that they had originated $115 million in deals for the second quarter of 2015. That translates to an average of $38 million per month, much higher than their average of $23 million monthly in 2014.
In their official release they state that the “significant increase in financing originations is in large part due to the launch of Bizfi, a connected online marketplace designed specifically to help small businesses compare funding options from different sources of capital and get funded within days.”
Meanwhile on the New Entrants Showcase panel at AltLend in NYC today, MCC founder Stephen Sheinbaum reiterated his desire for federal regulation of the industry to reduce the complexity of navigating the varying and sometimes obscure laws of 50 separate states.
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.