Merchant Cash Advance
Flexible Financing for Merchants.
Our Merchant Cash Advance option offers merchants a flexible way to access capital based on your daily credit card sales. It’s a convenient and efficient way to secure the funding you need to grow your business.
Most Asked Questions
What is a Merchant Cash Advance (MCA)?
A Merchant Cash Advance (MCA) is a financing option that allows businesses to receive a lump sum upfront in exchange for a percentage of future daily credit card sales. It’s a flexible solution designed to support your business’s cash flow needs.
How does a Merchant Cash Advance work?
With our MCA program, you receive an upfront cash advance based on your expected credit card sales. Repayments are made by deducting a small percentage from your daily credit card transactions.
What are the advantages of choosing an MCA over traditional loans?
MCAs offer several benefits, including quick approval and funding, flexibility in repayments, and no fixed monthly payments. They are particularly advantageous for businesses with fluctuating sales.
Is collateral required for a Merchant Cash Advance?
No, MCAs are typically unsecured, meaning you don’t need to provide collateral to secure the financing. Your credit card sales serve as the primary basis for approval.
What are the eligibility criteria for a Merchant Cash Advance?
Eligibility is primarily based on your business’s credit card sales history. We look at your daily credit card transaction volume to determine the advance amount you qualify for.
Can I apply for an MCA if my business doesn't accept credit cards?
Merchant Cash Advances are specifically designed for businesses that accept credit card payments as they rely on credit card sales for repayments.
How quickly can I get approved for a Merchant Cash Advance?
Approval for an MCA is typically fast, often within a few business days. Once approved, you can access the funds swiftly to meet your immediate financial needs.
Are there restrictions on how I can use the funds from an MCA?
You have the flexibility to use the funds for various business purposes, including working capital, inventory purchase, marketing campaigns, and more.
How is the repayment percentage determined for my MCA?
The repayment percentage is determined based on your daily credit card sales volume. It is usually a fixed percentage of your daily transactions.
Are there prepayment penalties if I want to pay off my MCA early?
Merchant Cash Advances often do not have prepayment penalties. You can pay off the advance early to reduce the overall cost of financing without incurring extra fees.
Ready to take the next step towards achieving your goals?
- Applying doesn't affect your credit score
- Applying doesn't affect your credit score
