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Global eTelecom Inc., a Destin, Fla.-based processor, says it is using merchant cash-advance services from Professional Merchant Advance Capital LLC, which includes check transactions when calculating how much money to offer merchants. Most cash-advance companies base the amount on the merchant's anticipated credit card receivables. Global eTelecom ISOs resell the services to merchants and collect a commission on the initial advance and on renewals. A spokesperson for Hauppauge, N.Y.-based Professional Merchant Advance Capital tells CardLine sister publication ISO&Agent that ISOs can use any transactions that can be converted to an electronic format, include automated clearinghouse and electronic benefits transfer transactions. David Fish, senior analyst at Maynard, Mass.-based Mercator Advisory Group Inc., says he knows of no other vendor that includes check transactions in merchant cash advances. "That doesn't necessarily mean there aren't other [cash-advance companies] already thinking along these lines, or doing it," Fish tells ISO&Agent.
