MCA Closers is a private exchange that gives merchant cash advance brokers pre-qualified files, one broker per file, with nothing to pay until a deal funds. This page explains what an MCA lead is on the exchange, how files are graded, what a seat costs, and how a broker earns more paper.
A merchant cash advance lead is a business owner who wants working capital now and has shown it. On MCA Closers that means a statement file: the owner sent three months of business bank statements, and we screened and graded them before the file was released. Other file types will be announced to seats when the first batch of that type lands, not before.
Every file carries the merchant's business name, state, industry, time in business, the amount asked for, and for statement files the grade, average deposits, NSF count and position count. The broker sees the full file only after taking it, and only one broker holds it at a time.
Most MCA leads are sold to several shops at once, which is why the merchant has four brokers calling within the hour and the first one in wins at a worse rate. On the exchange a file is held by one seat. While it is yours nobody else sees the merchant. Taking a file starts a 48 hour clock to mark a status; a file you are working stays yours while the status is current, and a file you return goes to the next seat in rank, never to two at once.
Statement files are graded A to D from three months of statements. The grade on the card reflects average monthly deposits, NSF and negative days, and the number of existing positions, and it is the grade every seat sees before deciding to take the file. An A file is a strong account with a clean quarter; a D file is a thin or busy account that still has a case. Seats choose which grades they receive, and D is opt in.
Nothing to open and nothing to hold. The exchange earns 2 percent of each funded amount that comes from a file taken through it, including renewals on the same merchant for 12 months. On a funding above $100,000 the fee is 2 percent or a quarter of the broker's commission, whichever is less, with the funder's commission statement attached. Statements go out Monday and are due Friday. There is no per lead price, so a file that does not fund costs nothing.
Every seat starts at 20 files a day. Every Monday seats are ranked on the previous week's paid commission per file received, and paper goes out top down. Tiers step to 50, 100 and 200 files a day on results: dispositions kept current, fundings reported, statements paid on time. Nobody buys a bigger tier and nobody is served first for asking.
A vendor is paid when it sells the file, so it sells the file as many times as it can. We are paid when the broker funds, so our income and the broker's results are the same number. That is why we can afford to call every merchant before release, verify every funding against UCC filings, and put the house rule in every seat agreement: Enrichment Capital, which operates the exchange, does not take files from it.
Seats are limited and opened in groups. Tell us about your shop at mcaclosers.com, read the ten rules and how a file moves, or write to seats@mcaclosers.com.
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