The Current Members of NAMAA
NAMAA is the North American Merchant Advance Association. From their website: The North American Merchant Advance Association (NAMAA) is a not-for-profit trade association representing organizations in the United States and Canada that are in the business of providing working capital advance products based on credit, debit or other card and electronic payment-related revenue streams to small and mid-sized businesses (currently referred to as a “Merchant Cash Advance”). NAMAA provides guidance and helps to influence and shape the merchant cash advance industry through leadership, education and the sharing of information.
Currently their members include:
- American Finance Solutions
- Business Financial Services
- Business Loan Options
- Capital For Merchants
- Greystone Business Resources
- Merchant Cash and Capital
- Merchant Cash Group
- Merchants Money Tree
- Principis Capital
There are a few newcomers to the group it seems and strangely, AdvanceMe, the largest funding source of them all is nowhere to be found. How is it that the oldest and most dominant player in the industry is not a part of it?
Rumors and evidence (I’ve seen it!) shows that NAMAA also has an interactive shared database of defaulted clients, fraudulent applications, and other protectionary services. This information would certainly be to AdvanceMe’s benefit. Does anyone know why they’re not part of it?Last modified: February 21, 2013
Sean Murray is the President and Chief Editor of deBanked and the founder of the Broker Fair Conference. Connect with me on LinkedIn or follow me on twitter. You can view all future deBanked events here.