1 00:00:00.345 --> 00:00:02.005 I'm Michael K, and I'm the CEO of Mr. 2 00:00:02.005 --> 00:00:04.605 Advance. I'm in the merchant cash advance industry, 3 00:00:05.065 --> 00:00:07.725 and, uh, we provide, um, uh, business funding 4 00:00:07.865 --> 00:00:10.565 for small business owners all over the United States, 5 00:00:10.585 --> 00:00:12.725 and we purchase their future receivables, uh, 6 00:00:12.785 --> 00:00:15.565 all the way from, uh, New York all the way to California, 7 00:00:16.025 --> 00:00:18.165 um, excluding Puerto Rico and Hawaii. 8 00:00:19.415 --> 00:00:21.515 So tell us a little bit about where we're at right now. 9 00:00:21.585 --> 00:00:22.915 Show us a little around your table. 10 00:00:23.065 --> 00:00:24.475 Yeah, this is, this is our booth. 11 00:00:24.475 --> 00:00:26.075 This is our calculators that we have. 12 00:00:26.145 --> 00:00:28.595 It's very important to have calculators when you're 13 00:00:28.825 --> 00:00:30.115 calculating the terms 14 00:00:30.175 --> 00:00:32.275 and the advances that you're offering to the merchants. 15 00:00:32.715 --> 00:00:36.835 Notepads, a little brochure of what we do 16 00:00:36.895 --> 00:00:38.355 and what type of programs we have. 17 00:00:38.355 --> 00:00:40.875 We have our Tier A program, our Tier B program 18 00:00:41.405 --> 00:00:44.155 going from higher risk to, to lower risk tier 19 00:00:44.495 --> 00:00:47.755 for business owners that have, uh, better quality of credit, 20 00:00:48.015 --> 00:00:51.035 better, uh, business future receivables for their companies, 21 00:00:51.035 --> 00:00:53.315 bigger companies, bigger, uh, bigger businesses. 22 00:00:53.815 --> 00:00:56.995 Um, so, you know, we, we offer various, 23 00:00:57.095 --> 00:01:01.635 we have phone holders so that the brokers can 24 00:01:02.395 --> 00:01:03.435 concentrate while they're working 25 00:01:03.775 --> 00:01:06.675 and have their phones on their, on their desks. 26 00:01:08.345 --> 00:01:09.835 When people come up to your booth today, 27 00:01:09.865 --> 00:01:11.595 what do you want them to take away from coming up 28 00:01:11.595 --> 00:01:13.675 to your booth, talking to you and your partner over 29 00:01:13.675 --> 00:01:14.675 Here? So I kind of 30 00:01:14.675 --> 00:01:16.835 want, uh, people to see 31 00:01:17.055 --> 00:01:20.915 and, um, you know, acknowledge what type of offers that Mr. 32 00:01:20.915 --> 00:01:22.955 Advance is placing out there. You know, Mr. 33 00:01:22.955 --> 00:01:27.355 Advance is not, uh, a, a small funding, uh, shop anymore. 34 00:01:27.695 --> 00:01:30.155 We are, you know, we, we do, uh, 35 00:01:30.445 --> 00:01:32.355 deals from a million to $2 million. 36 00:01:33.015 --> 00:01:37.555 Our sweet spot is around a hundred to about $250,000 of, 37 00:01:37.735 --> 00:01:39.795 of working capital for small business owners. 38 00:01:40.135 --> 00:01:42.035 Uh, but we do go out to $2 million. 39 00:01:42.415 --> 00:01:44.635 Uh, we have a, a great syndication pool 40 00:01:44.635 --> 00:01:46.355 that we have a family and friend fund. 41 00:01:46.695 --> 00:01:48.195 Um, we're all self-funded. 42 00:01:48.615 --> 00:01:52.035 Um, and, you know, we just want, you know, brokers to kind 43 00:01:52.275 --> 00:01:54.155 of know that we're, we're here with them. 44 00:01:54.415 --> 00:01:56.795 You know, we wanna be able to support their customers 45 00:01:56.975 --> 00:02:00.155 and the business opportunities where their clients are able 46 00:02:00.155 --> 00:02:02.555 to have that one stop shop where, you know, 47 00:02:02.555 --> 00:02:04.235 we're the only funding company here 48 00:02:04.505 --> 00:02:06.875 that will purchase future receivables multiple times. 49 00:02:07.455 --> 00:02:09.755 And, you know, we're not the type of shop that just 50 00:02:09.755 --> 00:02:12.435 because we have an active position with, with, uh, 51 00:02:12.505 --> 00:02:15.435 with a business owner that we won't be able to add 52 00:02:15.455 --> 00:02:17.795 or offer any additional business, uh, 53 00:02:17.915 --> 00:02:18.955 fundings for the company. 54 00:02:19.015 --> 00:02:20.955 But we would oftentimes offer 55 00:02:21.375 --> 00:02:23.795 to give a business owner a second and third 56 00:02:23.795 --> 00:02:25.675 and fourth position all done with Mr. 57 00:02:25.705 --> 00:02:28.235 Advance. So some of the brokers, they kind of have 58 00:02:28.235 --> 00:02:31.915 that dilemma where their clients, uh, oftentimes they, they, 59 00:02:32.025 --> 00:02:33.835 they look for additional working capital 60 00:02:33.935 --> 00:02:36.635 for their businesses because their business is always on an 61 00:02:36.635 --> 00:02:38.195 expansion and it's always growing. 62 00:02:38.615 --> 00:02:40.235 And, you know, we're, we're always here 63 00:02:40.235 --> 00:02:41.515 and we want to be able to support them 64 00:02:41.855 --> 00:02:43.915 and let them know that, you know, Mr. Vance has their back. 65 00:02:44.895 --> 00:02:45.895 Why should they work with you? 66 00:02:46.585 --> 00:02:48.715 Well, look, it's transparency, right? 67 00:02:48.715 --> 00:02:51.475 You want to be able to have a client where they're able 68 00:02:51.475 --> 00:02:54.315 to be comfortable working with a funding shop, right? 69 00:02:54.605 --> 00:02:57.315 We're a funding opportunity where we offer opportunities 70 00:02:57.335 --> 00:03:00.525 for our clients to reconcile their payments, 71 00:03:00.545 --> 00:03:02.325 and we actually do the reconciliations. 72 00:03:02.385 --> 00:03:04.885 And by reconciliations, you know, if a business owner 73 00:03:05.105 --> 00:03:08.245 and their future receivables are decreased by, you know, 74 00:03:08.425 --> 00:03:11.525 if their revenue is not the same of what it was, um, 75 00:03:11.665 --> 00:03:13.405 we would often, you know, give them a, a, 76 00:03:13.605 --> 00:03:16.165 a reduced remittance payment where it would be able 77 00:03:16.165 --> 00:03:18.685 to be more comfortable and suitable for the business. 78 00:03:18.745 --> 00:03:20.565 So, you know, they're not losing, you know, 79 00:03:20.565 --> 00:03:22.205 clients aren't going into default just 80 00:03:22.205 --> 00:03:23.445 because they're lowering their payments, 81 00:03:23.445 --> 00:03:25.605 they're following their contractual obligation, 82 00:03:25.865 --> 00:03:27.165 and that's what we're here to do. 83 00:03:27.165 --> 00:03:29.205 We're here to help them stay in business 84 00:03:29.225 --> 00:03:31.045 and let the business, you know, survive 85 00:03:31.045 --> 00:03:33.645 because the economy's built by the backbone 86 00:03:33.645 --> 00:03:35.525 of the business owners of the United States of America, 87 00:03:35.785 --> 00:03:38.725 and we're here to make sure that they're, they survive and, 88 00:03:38.825 --> 00:03:40.965 and they have enough working capital to continue growing. 89 00:03:42.875 --> 00:03:45.325 What trends are you seeing in the industry right now, 90 00:03:45.325 --> 00:03:47.885 especially as we approach 2025? 91 00:03:48.505 --> 00:03:50.685 You know, I've, I've seen, uh, a, 92 00:03:50.685 --> 00:03:54.205 after COVID, um, I've seen a lot of business owners looking 93 00:03:54.265 --> 00:03:55.565 for a lot of working capital. 94 00:03:56.105 --> 00:03:59.765 And because the banks are so, you know, a lot of, a lot 95 00:03:59.765 --> 00:04:02.245 of the customers that we were dealing with, you know, they, 96 00:04:02.275 --> 00:04:05.405 they obviously, their first choice is not going 97 00:04:05.425 --> 00:04:07.005 to do a merchant advance, right? 98 00:04:07.485 --> 00:04:09.525 Merchant advances, if they need the funding within 24 99 00:04:09.525 --> 00:04:12.605 to 48 hours, usually they're looking for, you know, 100 00:04:12.885 --> 00:04:14.365 SBA loans are a line of credits. 101 00:04:14.365 --> 00:04:17.285 But because the banks are taking a lot longer 102 00:04:17.425 --> 00:04:18.885 to underwrite those types of papers, 103 00:04:19.225 --> 00:04:21.165 and they kind of tightened up on their underwriting 104 00:04:21.165 --> 00:04:24.245 guidelines, um, I've started seeing a lot 105 00:04:24.245 --> 00:04:28.525 of big business owners, big companies going towards, um, 106 00:04:29.965 --> 00:04:32.885 merchant cash advance, and, you know, if we, 107 00:04:33.145 --> 00:04:35.405 if we don't provide them with the proper terms 108 00:04:35.705 --> 00:04:39.445 and rates, um, business owners are not gonna be able to 109 00:04:39.985 --> 00:04:42.685 afford the type of, uh, funding 110 00:04:42.745 --> 00:04:45.805 for their business if they're not able to get any SBA 111 00:04:45.805 --> 00:04:47.045 or line of credits, uh, 112 00:04:47.045 --> 00:04:48.685 because the banks are, you know, 113 00:04:48.955 --> 00:04:50.645 they tightened up on their underwriting. 114 00:04:51.145 --> 00:04:55.365 Um, so I do see a lot of customers ending up, you know, 115 00:04:55.405 --> 00:04:58.765 lowering payments, receivables have been shifting, you know, 116 00:04:58.765 --> 00:05:02.005 there's a lot of inconsistencies in month monthly revenues. 117 00:05:02.425 --> 00:05:07.405 Um, you know, I do also see that, you know, 118 00:05:07.405 --> 00:05:10.845 brokers have to be fully transparent with their customers 119 00:05:11.225 --> 00:05:13.325 and they have to, you know, fully guide them 120 00:05:13.325 --> 00:05:14.485 through the whole entire process. 121 00:05:14.825 --> 00:05:16.685 We here at Mr. Advance, we make sure 122 00:05:16.795 --> 00:05:18.325 that when we get on a funding call 123 00:05:18.325 --> 00:05:20.165 or the merchant interview with the customer, 124 00:05:20.225 --> 00:05:21.645 the customer knows that Mr. 125 00:05:21.645 --> 00:05:23.405 Advance is here for them 24 7. 126 00:05:23.635 --> 00:05:25.165 They can give us a call at any time, 127 00:05:25.385 --> 00:05:28.605 and we're here to help them with marketing, with, um, 128 00:05:28.835 --> 00:05:30.685 with business collection connections 129 00:05:30.685 --> 00:05:32.925 and relationships, we're very connected 130 00:05:32.925 --> 00:05:35.045 with all businesses all over the United States, right? 131 00:05:35.045 --> 00:05:37.005 We fund different various companies. 132 00:05:37.065 --> 00:05:39.205 We have different partnerships, different relationships. 133 00:05:39.465 --> 00:05:42.525 So oftentimes we, we do help some of the businesses 134 00:05:42.525 --> 00:05:45.525 that we see that can connect with other business owners 135 00:05:45.525 --> 00:05:47.605 that we have, uh, partnerships with. 136 00:05:47.785 --> 00:05:49.485 We would be able to connect for them to grow. 137 00:05:49.745 --> 00:05:53.565 So we're trying to help our current customers grow 138 00:05:53.665 --> 00:05:56.365 and consistently grow their business so that they don't have 139 00:05:56.365 --> 00:05:58.085 that downtrend mark in their business. 140 00:05:59.025 --> 00:06:01.645 We provide working capital for small businesses, 141 00:06:01.945 --> 00:06:04.365 and by providing the working capital 142 00:06:04.465 --> 00:06:07.605 and allowing the businesses to su to sustain their growth 143 00:06:07.665 --> 00:06:10.965 and continue growing, I feel like our business is, uh, 144 00:06:10.985 --> 00:06:14.965 is helping their business by giving them the excessive cash 145 00:06:15.145 --> 00:06:18.125 and being able to receive those receivables ahead of time 146 00:06:18.425 --> 00:06:21.645 so they can continue growing their business in marketing, 147 00:06:21.865 --> 00:06:24.485 in expansion, in, um, in, in, 148 00:06:24.505 --> 00:06:26.125 in paying their employees on time. 149 00:06:26.465 --> 00:06:29.925 And, you know, sometimes they have, you know, um, inventory 150 00:06:29.925 --> 00:06:32.885 that they're able to purchase where they need that type 151 00:06:32.885 --> 00:06:34.045 of cash injection. 152 00:06:34.385 --> 00:06:38.045 And I feel like, you know, due to the business, to business, 153 00:06:38.475 --> 00:06:41.525 it's a big support system for those companies to be able 154 00:06:41.525 --> 00:06:44.645 to feel sustainable that they can get the funding within 24 155 00:06:44.645 --> 00:06:46.045 to 48 hours of their business. 156 00:06:47.155 --> 00:06:48.205 That answers all my question. 157 00:06:48.205 --> 00:06:49.445 Thank you so much. Is there 158 00:06:49.525 --> 00:06:50.765 Anything else that you want to say before we 159 00:06:51.005 --> 00:06:52.005 Conclude? Mr. Vance 160 00:06:52.005 --> 00:06:54.485 is here to support and help your clients 161 00:06:54.545 --> 00:06:57.085 and guide them in every aspect of the business. 162 00:06:57.465 --> 00:07:00.125 Uh, we're, we're very friendly. We're very communicative. 163 00:07:00.635 --> 00:07:04.925 Work with us Mr. Advance. My number's 9 1 7 4 1 0 6 8 7 1. 164 00:07:05.105 --> 00:07:08.765 You can sign up by emailing admin@mradvancellc.com. 165 00:07:08.765 --> 00:07:09.405 Thank you so much.