GAINESVILLE, Fla., January 29, 2021 (Newswire.com) - Elevate Funding, a boutique funding company specializing in Merchant Cash Advance, is continuing its mission of supporting and empowering small businesses by releasing a new self-service feature on its proprietary merchant portal, Elevate View.
"We are proud to continue leading the way. Self-service has not historically been available to merchants in this industry, and we're excited to provide this as an option with the new FRSA request feature," says Heather Francis, CEO of Elevate Funding.
FRSA stands for Future Receivables Sales Agreement. This agreement states that a merchant's sales performance will be re-evaluated on a regular basis to ensure their daily payment amount is in line with the agreed-upon payment percentage. If a merchant's sales have deviated, Elevate will adjust their payment amount accordingly. This flexibility is a lifeline for many businesses with unexpected dips in revenue — especially in the current climate.
Now, with this self-service feature, merchants can request a payment adjustment all on their own, expediting the review process. Upon receipt, a customer service representative will review and approve the request promptly. The merchant will receive the approval notification immediately and can view their updated payment amount within the portal.
"Our goal was to build upon our existing transformative sales review and eliminate unnecessary back and forth customer service interaction. We understand that small business owners are already on a time crunch that is exacerbated by the economic climate this year. This new feature will empower them financially, provide increased control of their schedule, and enable them to focus on more pressing items in their day-to-day operations," says Francis.
"We are adding this feature in order to make Elevate View a place where our merchants can not only monitor, but actively manage their funding," says Chris Wesley, Lead Developer at Elevate Funding.
The team at Elevate aims to continually enhance and optimize Elevate View, which is already the central hub where merchants access useful information about their advance, including their balance, payment history, and eligibility to take out more funding.
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Source: Elevate Funding