LOS ANGELES–(BUSINESS WIRE)–In Advance Capital (IAC), a fast moving organization in the world of merchant cash advance and small business lending, recently announced that it has secured a $50 million credit line following many quarters of significant growth. CloudMyBiz (CMB), who implemented a fully automated and integrated Salesforce system and integration for the IAC Organization, is extremely happy to see the overwhelming success that this client is having.
The partnership with IAC has been a breath of fresh air. We are very pleased with the success of the project, how it has grown and are looking forward to further growth ahead, says Henry Abenaim, Founder of CloudMyBiz.
Following a demonstration in August of 2015, In Advance Capital purchased the full suite of CloudMyBiz’s customized Salesforce Apps, including Fundingo Origination, Underwriting, Loan Servicing, Syndication, Decision Logic and Splits. This new system allowed for greater flexibility of reporting, real-time underwriting decisions based on live data, automated loan servicing and significant process streamlining.
CMB’s system, combined with ongoing support and customizations, provided the backbone and functionality to make IAC’s success possible. 18 months later, the results speak for themselves. When they started in 2015, In Advance Capital was funding around $80,000 a month. This number has currently grown to about $2.5 million a month. In the last two months alone, they have seen a 220% increase of applications. The net result of this growth: a new $50 million credit line and very bright prospects for the future.
The CloudMyBiz team empowers business through the Cloud and encourages streamlined collaboration between departments, clients, customers and partners. CloudMyBiz specializes in Salesforce Implementation, Migration, Integration and Development, in addition to working with Third Party Applications and Custom App Development.
About In Advance Capital
Times Square-based In Advance Capital is a merchant cash advance company providing working capital to small- and medium-size businesses nationwide. Though only 18 months old, In Advance Capital has grown quickly, attributing portfolio transparency, discipline, and strong relationships with investors as keys to their growth and sustainability.