Merchant Cash Advance

What is Merchant Cash Advance?

Our Merchant Cash Advance (MCA) provide help to business owners in order to secure the financing they need in as little as 48 hours without the time, hassle, and aggravation of digging up financial statements and “jumping through hoops” only to be turned down by banks.

Having a steady source of financing can be critical to meeting your business obligations and full potential. However, it can difficult if you are facing quick financial challenges. That’s where Merchant Cash Advance firms come in handy. Similar to a regular business load, yet with fundamental differences, merchant cash suits companies that receive a majority of their payments by card.

The drawbacks that the small business owner experiences when applying for fast small business loans could be overcome by applying for merchant cash advances. The long waiting process is unheard of in the merchant cash advance industry as all the appraisal process requires is a simple online form. This is a form you can complete in less than ten minutes, send it to the lender online and obtain the results of the appraisal in less than an hour.

How Merchant Cash Advance (MCA) Work

With our cash advance funding options, we can get your business up to $50,000 in as little as 48 hours and approvals in 24 hours. With a cash advance or working capital loan, your credit history is not the only determining factor. So if you have less than perfect credit we could still fund your request.

Minimal documentation required and our application is a simple two-page form that can be completed in 5 minutes or less.

Merchant cash advance loan options don’t work for every type of industry. With a little information about your business, our professional funding agents can look at other options that might be a better fit for your financing needs.

An MCA is not a loan; instead, it is an advance payment based on your business's future income. An MCA provider gives you a lump sum, which is then repaid based on your daily credit card receipts. The percentage amount you pay back to the provider is known as the holdback or retrieval rate. The amount differs from one provider to another depending on the size of the advance, your business sales volumes, and the repayment period.

Simple Way Of Raising Funds For Your Business

Merchant cash advance loans are a simple way of raising funds for your business without the hassles involved in traditional loans. Merchant cash advance loans have gained popularity among business owners due to their many benefits. These loans are based on your business credit card sales. Read on to understand the benefits of applying for merchant cash advance loans.

High Approval Rates and Fast Disbursement

The approval rate among cash advance providers is as high as 90% which means that your application for fast cash advancing stands a greater chance of success than your application with the bank. When you get approved, you do not need to wait forever to get the funds. Some merchant cash advance companies will not only approve you in a day or less but will also have the funds disbursed in less than a week. By carefully searching the net, you’ll find that there also plenty of credible providers who are able to complete the entire process in about two days – more time than the bank will take to appraise your application.

Requierements For a Merchant Cash Advance

Requierements For a Merchant Cash Advance

No Collateral Is Required

Typically, when applying for bank loans, it is a common phenomenon to provide a form of collateral in order to secure your loan. The collateral acts as an insurance policy in case you default. In contrast, MCA is unsecured.

Why Should You Consider MCA?

Based on the merits above, MCA is suited for businesses that require fast access to cash and have an established credit card transaction history. SMEs and retailers are the best candidates to apply for MCA.

Other advantages

For the small business owner in search of fast small business loans, the merchant cash advance option has additional benefits. One of the most attractive features of these advances is that they can be used in whatever way the business owner desires. Unlike a bank loan which must be put to very specific uses, you could use a cash advance to pay your staff or creditors, pay taxes or even open a new branch. This flexibility is of critical importance to the small business owner who might not qualify for many different loans.

If you were looking for a fast small business loan to take care of seasonal demand, the time it takes to obtain the loan might mean that the funds will come too late. In urgent situations, a merchant cash advance could be the best option available for the small business owner.

The importance of the retrieval rate

The people who have suffered most in the hands of unscrupulous providers are those that were forced to consent to unreasonable retrieval rates. A merchant cash advance provider gets to recover amounts advanced by taking a proportion of all your credit card sales. This rate, ideally, should be mutually agreed upon between the lender and the borrower. Unfortunately, not all providers are open to discussion on the rate.

As the business owner, you already know what profits you make from your credit card sales and you should not commit to set aside a percentage higher than what your business can afford. If, for instance, you make 15% profits on such sales, you have no reason to take an advance when the provider wants a similar retrieval rate – your business will simply not survive. While profit margins vary among various industries, you can always get a good rate by shopping for your provider carefully. The days of providers who imposed 30% retrieval rates are long gone and, regardless of the industry you are in, you have no reason to accept a rate above 10%.

Useful information about merchant cash advance lenders

Another critical matter that relates to repayment and which is of great importance when choosing a cash advance merchant is understanding how your provider views the money advanced. Some providers are a bit ambiguous on this – they do not make it clear if they are giving you a loan or a cash advance. This distinction is of critical importance as you’ll realize when you have problems paying.

Should the lender have given you a loan, he’ll demand a specific amount at the end of the month or threaten to sell your assets when you are unable to pay. That should never happen when you use a cash advance. Unlike a loan, an advance is only payable when you realize credit card sales – should you never make any such sales, the provider should not expect to be paid. Moreover, should your business fail, the provider must bear the full weight of the loss and cannot attach any of your assets as they were never used to secure the advance.

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