6th Avenue Capital is a small business financing company that provides fast and efficient access to capital during times of immediate need. Small businesses can access the company’s services through its nationwide network of ISOs and strategic partners. 6th Avenue Capital is changing the merchant cash advance landscape by holding itself accountable to the highest operating standards, focusing on the diverse small business landscape, and shifting the paradigm to a highly personalized experience, giving customers access to the company’s unique blend of seasoned industry experts.
6th Avenue Capital ownership was seeking a reliable technology solution that would allow them to scale the company and efficiently increase the funding volume provided to business owners. With two outdated legacy systems in place that weren’t fully integrated or automated, the company was forced to rely on manual data entry, which often failed to comprehensively capture important customer information in a timely manner.
FUNDINGO is a loan management solution, created by industry experts, built natively on Salesforce and designed specifically for Merchant Cash Advance companies. It streamlines the entire process of originating, underwriting, and servicing Merchant Cash Advances. Unlike a hodge-podge of outdated and unconnected systems, each handling only a single element in the funding process, the FUNDINGO solution helps MCA companies attract and close more deals, accelerate the underwriting process, generate more pricing options, reduce errors, and ensure greater consistency. FUNDINGO provides:
- An end-to-end, single platform solution
- Sophisticated automation for the Merchant Cash Advance process
- Scalable and integrated systems
- High value at an affordable cost
The FUNDINGO solution, developed and implemented by CloudMyBiz, replaced the legacy systems, in the process centralizing and streamlining the entire processing system. Redundancies were eliminated and a majority of manual data entry was automated. 6th Avenue Capital’s funding process, from start to finish, became faster, more user-friendly and smarter.
Most importantly, with the new infrastructure in place, 6th Avenue could efficiently service its growing business, including an additional $60 million new funding commitment. The customized FUNDINGO loan management solution has strategically positioned 6th Avenue Capital to scale and provide more financing solutions to small businesses.