New York, NY (PRWEB) October 15, 2013
More than one in three small businesses are unable to obtain adequate financing, according to the National Small Business Association’s 2013 Mid-Year Economic Report. To help small businesses overcome their ongoing challenges, leading merchant cash advance provider Merchant Cash and Capital (MCC) and BoeFly, an online commercial transaction and lending platform, announced today a partnership to simplify the alternative financing process.
The new partnership will enable the organizations to help more small businesses than ever before, while streamlining the financing process for merchants, especially franchise owners. BoeFly users will also soon have access to MCC’s recently released ASAP technology, which accelerates and automates the submission-to-funding process for cash advances by providing instant pre-approvals and contracts.
“Pairing MCC’s expertise in the alternative financing space with BoeFly’s fluency in the lending and technology marketplace will ensure a seamless transaction for small business owners across the board,” said MCC CEO Stephen Sheinbaum. “We’re excited to strengthen our existing relationship with BoeFly to better meet the growing financing demands of small businesses.”
The partnership is indicative of MCC’s ongoing diversification in the independent sales organization space. During a time when small business owners are struggling to obtain the financing they need to grow their companies and hire more employees, MCC’s closer alignment with BoeFly will offer thousands of SMB owners enhanced opportunities to jumpstart their businesses and ultimately improve the U.S. economy.
“We are excited to have MCC as one of our strategic partners to offer merchant funding products to our business borrowers,” said BoeFly Co-President David Nayor. “BoeFly’s primary goal is to offer a wide array of loan and funding products to business borrowers in the most efficient manner. MCC’s funding products provide our borrowers with quick access to capital for a host of uses, which is proving especially important in the franchise arena for expansion plans, operational upgrades, and working capital needs.”
About Merchant Cash and Capital
Since 2005, Merchant Cash and Capital, LLC, has been one of the nation's business cash advance funding leaders. MCC has provided more than $575 million in financing to over 12,500 distinct customers and a total of over 27,000 advances. For more information about MCC, ASAP and its innovative small business-focused funding programs, please visit us at http://www.merchantcashandcapital.com or call 1-866-792-9366.
BoeFly is the online marketplace harnessing technology to dramatically simplify the execution of commercial transactions, including all loan origination and sales. BoeFly revolutionizes how deals get done by seamlessly connecting all parties, including lenders, borrowers, franchisors, investors, buyers and sellers to a potential transaction and facilitating the efficient completion of these transactions. At the heart of BoeFly is a loan exchange that efficiently connects small business owners with more than 3,600 business lenders. BoeFly is a subscription service and does not charge any transaction fees.
Key to the success of BoeFly is the site's dynamic compatibility technology. Information from a business borrower is captured from the comprehensive SmartForm loan request and then compared in real-time with the specific preferences from thousands of business lenders. The result is that business borrowers are matched the right lenders.
BoeFly was founded by small business lending experts with extensive banking, secondary market and technology experience. The company is privately-held and is based in New York City. http://www.boefly.com.