Merchant Cash Advance Company Review

Company Profile

Global Funding Experts (GFE) is a recognized leader in the Alternative Funding Industry, primarily serving small businesses, which are considered the lifeblood of the U.S. economy. GFE understands the challenges these businesses often face in securing financing when opportunities or challenges arise. As a direct funder of Merchant Cash Advances, GFE works closely with businesses, incorporating them in each step of the funding process to ensure their services fit the businesses' needs.

GFE operates with transparency, fairness, and integrity, keeping the best interests of their clients at the center of the financing process. They utilize a proprietary CRM to secure the application submission process and provide rapid turnaround and funding for qualified applicants.

Products & Services

GFE offers a range of financial solutions, including Merchant Cash Advances (MCAs) and Reverse Consolidation. MCAs are not loans but business-to-business transactions where a merchant sells a company’s future assets to a commercial funder in exchange for upfront capital. This funding alternative is preferred by small and medium-sized businesses when confronted by a time-sensitive cash crunch.

Reverse Consolidation is another service offered by GFE. This service is particularly useful for small to medium-sized businesses that have multiple cash advance positions. GFE's consolidation process provides merchants a way to consolidate outstanding MCA positions, thereby eliminating multiple funders, reducing weekly cash advance payments by up to 50%, and allowing business owners to ease repayment terms while avoiding cascading cash calls and or illiquidity.

Pros and Cons

Pros:
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1. GFE offers alternative funding solutions for small businesses that may struggle to obtain financing from traditional sources.
2. They provide a fast and simple underwriting process.
3. GFE operates with transparency, fairness, and integrity.
4. They offer a range of financial solutions, including Merchant Cash Advances and Reverse Consolidation.
5. GFE's consolidation process can help businesses manage multiple cash advance positions, potentially reducing weekly payments by up to 50%.
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Cons:
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1. Their services may not be suitable for all businesses, particularly those not comfortable with alternative funding solutions.
2. The cost of their services, particularly MCAs, may be higher than traditional loans.
3. Businesses must have a certain level of credit card sales or bank deposits to qualify for their services.
4. There may be fees associated with their services that are not present with traditional loans.
5. The rapid repayment schedule associated with MCAs may not be suitable for all businesses.

Ideal Customer

The right type of customer for GFE's services is a small to medium-sized business owner who needs quick access to capital. This could be for a variety of reasons, such as securing the business in the face of declining sales, growing the business by hiring additional employees or expanding, or managing day-to-day operations like making repairs or covering payroll. Businesses that have been in operation for at least 6 months, have a minimum of $15,000 in deposits per month, and a minimum 500 FICO score would be ideal candidates.

Required Documentation

The website does not provide specific details on the required documentation to get funding. However, typically, businesses would need to provide proof of their monthly deposits, proof of the time in business, and credit information. It's recommended to contact GFE directly for a detailed list of required documentation.

Industries and Restrictions

The website does not provide specific details on the industries GFE works with or if there are any industry restrictions. However, given their focus on small to medium-sized businesses and the nature of their products, it's likely they work with a wide range of industries. Businesses interested in GFE's services should contact them directly for more information on any potential industry restrictions.

State of Operations

The website does not provide specific details on the states GFE does business in or if there are any state restrictions. It's recommended to contact GFE directly for more information on their geographical operations and any potential restrictions.

Basic Qualifications

To qualify for funding from GFE, businesses must have a minimum 500 FICO score, minimum deposits of $15,000 per month, and have been in business for at least 6 months. Additionally, businesses must not have any previous defaults or judgments and no open bankruptcies.

Collateral or Guarantees

The website does not provide specific details on the type of collateral or guarantees required for GFE's products. However, given the nature of their products, particularly Merchant Cash Advances, businesses may need to provide future credit card sales or bank deposits as a form of collateral. It's recommended to contact GFE directly for more information on any potential collateral or guarantee requirements.

Alternatives

Businesses looking for alternative options to GFE could consider traditional bank loans, credit unions, or other alternative lenders. Crowdfunding or peer-to-peer lending platforms could also be considered. Additionally, businesses could explore government-backed loans, grants, or programs designed to support small businesses.