$5k - $500k
3 - 18 Months
24 - 48 Hours
As Low as 1.09%
Merchant Cash Advances (MCAs) are your fastest way to access immediate capital for your
business. Confused by many to be thought-out as a loan, it’s actually the purchase of your
future receivables for an upfront lump sum of cash with interest. In other words, it’s money
upfront for a piece of your future sales. This product has a fixed payback which is calculated
with a factor rate.
MCAs are often looked down upon due to merchants not knowing enough about this financial product. MCAs unlike other products have the ability to be paid back with a daily percentage of your business’s daily sales. This is called the holdback; the holdback can range 10-20 percent normally. One main benefactor of this style of repayment is the fact if your credit card transactions are low for a day the draw from the merchant account will be lower, since it’s a percentage of your daily sales. Another repayment method is a fixed ACH amount that can be withdrawn from your account on a daily or weekly basis.
Amongst the fastest of financial products to obtain. Similar to a term loan, approvals are given within hours of receiving a one-page application and bank statements, and are normally funded within 24 hours. To seal the deal, all that’s required are proof of ownership and a landlord verification in most cases. Let’s not forget to mention these advances are not backed by collateral and are not based on personal credit history. In other words, it’s your Band-Aid solution for quick capital needs given its simplicity and accessibility.
Chances are if you’re applying for a Merchant Cash Advance you will be approved. There’s a 90% approval rate you will receive an ofer, even with judgements, tax liens or bankruptcies you can receive an approval. It’s become a go-to option for small business owners for its high probability of receiving instant capital, and best of all its easy renewal process gives you access to more funds after 30-45 on time payments.
