Bank Statement Converter for Merchant Cash Advance Underwriters
Merchant cash advance and small business funders decide on bank statements, and the stack arrives as portal PDFs, scans and phone photos. StatementsConverter reads each one into a table, proves every month ties to the printed balances, and exports Excel or CSV so your underwriters review deposits, not page images. Brokers packaging deals can also see the bank statement converter for mortgage brokers.
Choose a statement file first, or use our sample statement.
This file is larger than 10 MB. Split the statement or upload fewer pages.
This file type is not supported. Upload a PDF, JPG or PNG statement.
We could not read this statement. Try a sharper scan or the original PDF from the bank.
No transactions were found on these pages. Check that the file is a bank or credit card statement.
You have used today's sample conversion. Create your account to keep converting statements.
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No card needed for the sample. Demo files are deleted right after conversion.
Converting your statement
- Reading pages
- Finding the transaction table
- Extracting rows
- Checking balances
Why MCA files stall in the intake queue
A typical application brings three to six months of statements from one or more business accounts. Underwriting then needs average daily balance, monthly deposit totals, NSF and overdraft counts, and any existing advance debits, all from documents that were never built to be read by a machine.
Reading that by hand takes 10 to 20 minutes per statement, and the quality varies from analyst to analyst. A converter that checks every month against its opening and closing balance catches a missing page before a decision is made on partial data.
From submission to a checked deposit table
- Open a workspace per deal and upload everything the merchant sent, PDF, scan or photo.
- Statements are grouped by account and ordered by period, so a missing month is visible at once.
- Each transaction is extracted with date, description, debit, credit and running balance.
- The balance check confirms opening balance plus credits minus debits equals the closing balance, and points to the page and rows that do not.
- Export XLSX or CSV into your scoring sheet, or push rows into your own system through the API on Business.
What underwriters pull from the table
- Deposits by month, sortable so a one time transfer stands apart from regular sales.
- NSF, returned item and overdraft lines exactly as the bank printed them.
- Recurring daily or weekly debits that point to other advances or loans.
- Ending balances by month for the balance picture.
Your credit policy decides which deposits count. The tool produces a clean, checked table and leaves that judgment with you.
What a month of intake costs without a converter
This is a computed example with stated assumptions, not a customer result.
Assumptions: 150 applications a month, 4 statements each, 3 pages per statement, 12 minutes of reading and totaling per statement, 30 USD an hour of analyst cost.
| Item | Assumption |
|---|---|
| Statements a month | 600 |
| Pages a month | 1,800 |
| Manual time at 12 minutes each | 120 hours a month |
| Analyst cost at 30 USD an hour | 3,600 USD a month |
| Fitting plan | Business, 5,000 pages, 249 USD a month billed yearly |
A smaller funder with 40 applications a month needs about 480 pages, which fits Starter at 24 USD a month billed yearly, or Professional at 74 USD when you want workspaces per deal and several seats.
Matching a plan to your deal flow
Starter, 24 USD a month billed yearly or 49 USD monthly, gives 400 pages with XLSX and CSV.
Professional, 74 USD billed yearly or 149 USD monthly, gives 1,500 pages, 3 seats and 25 workspaces, one for each live deal.
Business, 249 USD billed yearly or 499 USD monthly, gives 5,000 pages, 15 seats, roles, an audit log and API access for an underwriting team.
Business Plus, 499 USD billed yearly or 999 USD monthly, gives 12,000 pages.
See the full bank statement converter pricing. Teams that score loans more broadly can read the bank statement analysis software for lenders page, and the scanned bank statement to Excel page covers phone photos.
Questions MCA underwriters ask
Can it read scanned and photographed statements
Yes. Scans and phone photos are read on every plan, and the balance check flags any page that did not read completely.
Does it calculate average daily balance
It extracts every transaction with its running balance into Excel or CSV. You calculate average daily balance and your scoring in your own sheet, from data that has passed the balance check.
Can I send rows to my own underwriting system
Yes. The API on Business returns the extracted transactions so your system can ingest them, and every plan exports XLSX and CSV.
Can several underwriters work at once
Yes. Professional has 3 seats and Business has 15, with roles and an audit log of who converted what.
How long are merchant files kept
Files are deleted after 24 hours by default and are never used to train models. The security page has the details.
Start every decision from checked numbers
Convert one merchant statement, read the balance result and see how much of your intake you can stop retyping.