MERCHANT CASH ADVANCE
A Merchant Cash Advance (MCA) is the easiest to qualify for and fastest type of funding to receive. It is not a loan – it is considered an advance against your company's future monthly revenue generated through cash and credit card sales.​
Benefits of a
MERCHANT CASH ADVANCE
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Credit Score is NOT a factor - approval is based on your monthly sales revenue
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Funding amounts vary from $10,000 to $3 Million.
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An MCA is most often used for quick funding needs that arise and are paid back over shorter terms, typically anywhere from 3 months to 12 plus months.
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Rates (factor rate) vary and depend on things such as strength of daily balances/cash flow, monthly revenue ...
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There are no big monthly payments for the business owner to have to worry about. Repayment is convenient - made by a small percentage of future sales and drafted via ACH either daily or weekly, so effectively the money is not missed and payment is never worried about.
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Once half the advance is paid back, the business owner is eligible for another advance should it be needed. It's a great feature a business owner can depend on should the need arise.