Small businesses looking for a cash infusion to increase their sizes and productivity of businesses.
Merchant cash advances for small businesses. They work directly with Independent Sales Organizations to facilitate the underwriting of business loans that rely on a percentage of credit card sales for repayment.
Setup Fee: Undisclosed
Monthly Fee: Undisclosed
Swipe Rate: 2.69% + $0.30
Keyed-in Rate: 3.69% + $0.30
Early Termination Fee : $495
Mom & Pop Merchant Solutions was founded in 2007.
They are located in Portland, OR.
Bret Martin is listed as the founder and CEO.
Beginning in 2016, Mom & Pop Merchant Solutions established their cash advance business with small businesses in mind. Knowing the capital it can take for most merchants to get their ideas off the ground, Bret Martin created his own business using the credit card cash advance as a way to establish new businesses.
Utilizing independent contractors and functioning as the source of funds, Mom & Pop have maintained some distance from the businesses themselves.
While there are some references to reselling merchant accounts, it appears that Mom & Pop sticks to the funding for the most part.
Whatever their actual role is, they have maintained a very low complaint count. When considering the number of businesses they interact with this fact is astonishing and indicates something in their system works very well.
Merchant Provider Risk Tolerance
Hardware and Software
There is no hardware or software to be offered. They work exclusively as a fund pool for merchant cash advances.
There are no listed services. It appears that the company has minimal interaction with the merchants at any point outside of the day the funds are dispersed to the merchant bank accounts.
Supported Payment Types and Services
Since they direct people to Fiserv, all major payment types are likely accepted once a merchant account has been established.
Discloses All Important Terms
Public Pricing Available
The repayment pricing on merchant cash advances is variable. They depend on several factors including business type, risk, and volume. On average they range anywhere from 10 to 200%
Mom & Pop do not specify the range of their merchant loans, but merchant loans, in general, tend to be higher than bank loans.
The difference is that merchant loans are paid back as a percentage of credit card transactions and are not tied to a specific monthly payment. The upside is the amount paid each month follows the business revenue. The downside is the merchant will be responsible for paying back a greater amount than the original loan.
The Mom & Pop Merchant Solutions offering up to a million dollars in a loan, this could be a hefty payoff amount.
2.69% + $0.30
3.69% + $0.30
Mobile Payment Rate
Virtual Terminal Rate
Payment Gateway Fee
Early Termination Fee
PCI Compliance Fee
$19.95 Per Month
Equipment Lease Terms
48 Month (locked)
Address Verification Service (AVS)
Account Setup Fee
Gateway Setup Fee
Contracts, like the loans themselves and monthly payments, are variable and likely depend on the amount being borrowed and the type of business.
In general, loan repayments are measured in months. The average repayment is 3-18 months. There are longer contracts for larger sums borrowed.
Early Termination Fee
According to the company website, the establishment of a loan can be secured in no more than a couple of days. It appears that some merchants can secure loans and have their money transferred into their accounts on the same day.
While there is no way to tell if this is the average, Mom & Pop Merchant Solutions advertise this as a real possibility for merchants looking for a quick cash influx to stimulate their business.
Mom & Pop Merchant Solutions is not accredited by the Better Business Bureau.
They do not have any official complaints through the website, but they do have three customer reviews offering a 1/5 star rating. These complaints are not targeting the merchant side of the business but instead are from Independent Sales Organizations (ISOs) who have invested in the company without seeing the returns they were promised.
There are no complaints from actual merchants and it appears the loan side of the business operates reasonably and legitimately.
Other Online Reviews
There are no other reviews to be found online. This could be a result of the company parting ways with Securus and focusing on the merchant loan side of the business. This simplification may have resulted in a drop in previous complaints.
However, without being able to locate any complaints from before the separation, it is difficult to judge.
C+ and is not BBB Accredited. (0 Review; 1 Complaint)
4.9 Stars / 307 Reviews
No Recommendations Yet
3 Stars / 17 Reviews
Total Online Reviews
Total Online Complaints
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