$4 Million Merchant Cash Advance Funded by Strategic Funding Source
Very reliable sources indicate that New York based Merchant Cash Advance funder, Strategic Funding Source(SFS), has inked a $4 Million Merchant Cash Advance with a big name business in Las Vegas. Without revealing who the recipient is, they seem to be very pleased with the outcome. They reportedly stated, “Strategic provided us with a very unique financing solution that gave us the final $4 million needed to complete the project and launch the company. Without their help and creativity, especially in this difficult economy, our completion may have not happened.”
To date, this would be the largest Merchant Cash Advance on record. It comes as no surprise that it came from SFS, one of the most experienced firms in the industry. Coincidentally, we recently singled them out in an article (Who is Really Getting a $250,000 Merchant Cash Advance?) as being one of the few firms capable of handling a million dollar deal.
It’s also worth mentioning that SFS is leading the Merchant Cash Advance industry in a new direction, in a way that resembles peer 2 peer(p2p) lending models like Prosper.com. Operating under the name Colonial Funding Network, investors have the ability to contribute their own funds towards a Merchant Cash Advance. The account is then serviced by SFS in return for a fee. Small businesses ultimately benefit since this creates a larger base of funds to draw from. To read more on our thoughts on how the p2p model is reshaping the industry, check out: The Direct Funder Model is SO 2009 or P2P Merchant Cash Advance Model Already Exists. To read up more on SFS and Colonial Funding Network, visit their site directly.
-The Merchant Cash Advance Resource
Photo copyrighted by: 123RFLast modified: August 31, 2011
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.