tag:blogger.com,1999:blog-2207548757190716934.post6268372919277653921..comments2021-09-23T04:08:18.525-04:00Comments on Merchant Cash Advance Blog: Merchant Cash Advance - EAR - Effective Approval RateDavid Goldinhttp://www.blogger.com/profile/10138018754054335798noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2207548757190716934.post-65334081266001608092007-12-31T08:40:00.000-05:002007-12-31T08:40:00.000-05:00I totally agree. I chastise reps who report that ...I totally agree. I chastise reps who report that your credit doesn't matter." <BR/><BR/>I also believe that ISO's shoud do away with "funding in as little as 72 hours"...on what planet?<BR/><BR/>The days of bringing in bodies to field inquiries is over. We need talented and educated sales reps who know how to properly explain the cash advance and what applications require and MCA's requireAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2207548757190716934.post-48928031921402864382007-12-16T12:51:00.000-05:002007-12-16T12:51:00.000-05:00this is a good point. many agents/iso's, especiall...this is a good point. many agents/iso's, especially all the new ones, have no idea about approval rates. I have read so many 90% approval rate website advertisements and thats not realistic. I believe its closer to 70-75%. We used several companies with volume submissions and found it was around this on average as a blended EAR. I believe MCA's should not advertisie 90% approval rate, UNLESS, they disclose what it takes specifically to get that approval rate (i.e. good credit, TIB, etc, etc). Also, no MCA is telling peopel credit is a factor. Of course it is. Credit Reports are reviewed!Anonymousnoreply@blogger.com