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Merchant Financial Services
Merchant Cash Advance
Merchant Cash Advance
A Merchant Cash Advance is a financial product that provides businesses with a lump sum of capital in exchange for a percentage of their daily credit card sales and/or regular bank deposits. This form of financing allows business owners to access working capital quickly, typically within a few days, and pay it back through a portion of their daily revenue.
A Merchant Cash Advance can be a suitable financing option for businesses that experience fluctuating or seasonal revenue. It’s a convenient solution when traditional loans may not be readily available or ideal due to credit constraints or time-sensitive needs.
However, it’s important to consider the costs associated with MCAs. The fixed daily deductions can be higher than the interest rates on traditional loans. Carefully evaluate your business’s cash flow and ensure that an MCA aligns with your financial strategy.
If you’re interested in learning more about Merchant Cash Advances and whether this financing option is right for your business, contact us today. Our team of financial experts is ready to assist you in finding the best solution to meet your business’s unique needs.
Don’t let financial constraints hold your business back. A Merchant Cash Advance can provide the capital you need to grow and thrive. Contact us now to explore your options and get started on the path to financial success.
Key Features of Merchant Cash Advances:
Quick Approval: MCAs are known for their swift approval process, making them an attractive option for businesses in need of immediate funds.
Flexible Repayment: Repayment is based on a fixed percentage of daily credit card sales or bank deposits, which means your payments adjust with your revenue.
No Collateral Required: Unlike traditional loans, MCAs are unsecured, meaning you don’t need to put up assets as collateral.
Bad Credit-Friendly: Even if you have less-than-perfect credit, you may still qualify for a Merchant Cash Advance.
Use Funds as Needed: You have the freedom to use the funds as you see fit, whether it’s for inventory, equipment, marketing, or other business needs.
How Does it Work?
Application: Start by filling out a straightforward application, providing essential business information.
Approval: After reviewing your application, the MCA provider will assess your business’s credit card sales or bank deposits to determine your eligibility.
Offer: If approved, you’ll receive an offer detailing the terms, including the factor rate and holdback percentage.
Funding: Upon acceptance of the offer, the funds will be deposited into your business bank account within days.
Repayment: As daily credit card sales or bank deposits come in, the MCA provider will deduct a fixed percentage until the advance, plus fees, is paid off.