Thursday, April 29, 2010

North American Merchant Advance Association Announces Merchant Cash Advance Best Practices

While merchant cash advances have been around for quite some time, like many industries it has seen its share of scrupulous and unscrupulos providers. The North American Merchant Advance Association (NAMAA) recently released it's recommended Best Practices for the Merchant Cash Advance Industry.

As a founding member of NAMAA, I commend our co-members which make up the majority of the players in the merchant cash advance industry for coming together to ensure the merchant cash advance product is sold and executed properly so that it helps the merchant and doesn't hurt the merchant.

For those merchants reading this blog, proceed with caution when doing business with a non-NAMAA merchant cash advance provider. NAMAA members who bear the association logo on their website have taken the time, capital and commitment to ensure their offering is made in a standup way and helps them stand out from certain providers in the industry who have used tactics that the industry and the association look down upon.

Buyer beware, stick with a NAMAA member and look for the following logo:

Monday, April 5, 2010

Merchant Cash Advance Partnership Between United Bank Card and AmeriMerchant

I am proud to announce that United Bank Card, Inc. (UBC), ranked by the Nilson Report as one of the largest payment processors in the United States, and AmeriMerchant, one of the oldest and largest providers of merchant cash advances, announce their partnership to offer working capital to both potential and existing United Bank Card merchants. For more information on this partnership, click here.

This partnership will allow United Bank Card's 100,000+ merchants access to working capital in a environment that can be extremely challenging for small businesses seeking a traditional loan product from the bank.