First For Business Ltd

Don Brame explains the advantages of the business cash advance from MCE: “We are members of The National Association of Commercial Finance Brokers which provides a wide range of support, training and help for brokers. One of our directors is on the board of the NACFB and we represent MCE for NACFB members.”

So as well as selling the product in their own right, First For Business also supports a number of sub brokers on behalf of the NACFB. 

“From a broker's point of view it is an innovative new funding product that fills funding gaps for the client and enables the broker to access new revenue streams."

“This product is very simple to understand and there is a very large potential market for it.  It suits businesses that are either not able to meet banks’ lending criteria because they don’t have the security, or the purpose of the advance is not one the banks will lend for."

“If brokers come to us for this product we usually generate a recurring income for them as we understand the product intimately and have a great deal of experience on how best it can be sold to their client base."

“A qualified lead is all we need. We deal with everything, act as their back office and do all the administration work for them such as getting the right documentation, checking it and then submitting it to MCE for underwriting." 

“On initial and all subsequent drawdowns we pay them commission."

“We’ve been dealing with this product for a couple of years now so know how to do it and we’re a small outfit offering a very personalised tailored service.” 

Shire Securities Ltd

Mike Phelan of Tamworth based Shire Securities Ltd has recommended MCE’s Business Cash Advance to a number of his clients.

“This is a terrific product that allows our clients to raise working capital for any business purpose at a time when raising funding is proving to be a challenge."

“We have a wide mix of customers all with different needs looking to raise working capital and cash to expand or help with cash flow. We have found that this particular product fits a little niche in the market."

“It is unsecured, it is relatively quick, payments are flexible and our clients like that. We have been working with MCE for some time now and enjoy a good working relationship with them.  Many of our customers are so satisfied with it that they have come back and used the facility again and again."

“From a broker’s point of view it provides a good ongoing income stream as a result of the high renewal rate. We are looking to increase our sales team to raise the profile of this product."