Merchant Solutions Group has just closed an astounding $1.625 million dollar deal with their sports management company client marking the industry’s largest deal to-date. The cash advance was completed in just under a year and also marks MSG’s best month to date with $4.5 million in deals, a time that is traditionally the slowest. The company believes the shift to in-house lending and a larger focus on employee training is responsible for the market shift.
Merchant Solutions Group offers cash advance programs that allow companies to fund their businesses through future credit card receivables. Upfront funds are then paid off at a fixed percentage rate of credit card sales, meaning businesses can pay off their loan at the same rate at which they produce sales. This service allows businesses ranging from those recovering from disaster and damage to those looking to increase growth through inventory or industry investment to access the money they don’t have but need to progress. There are no upfront fees, no personal guarantees, no required collateral, no fixed payments, and no upfront set time frame for payback.
Prior to this astounding deal, Merchant Solutions Group’s largest transaction was still incredibly notable at 1.2 million dollars. That said, numbers aren’t the only things marking their growth, showing this huge increase and breaking records during the industries usual lull also has the market leaders talking. “Summer is typically a very slow time for our company,” explains Billy Morrissey, President and Founder of Merchant Solutions Group, “but by focusing our attention on the staff’s training and our recent switch to in-house funding from hedge-funds, we’ve been able to make the necessary strides to reach these ground-breaking numbers. I could not be more proud of my company’s efforts.”
Since its inception, Merchant Solutions Group has provided funding to small businesses in need and during moments of crisis, playing an integral role in the survival of many businesses that were affected by both Hurricane Katrina and Hurricane Sandy.