Any business with significant credit and debit card sales stands to benefit from the MCA Program. Following are some examples:
Instant Cash. Fast Approvals. Great Rates.
Quick money – For businesses accepting credit cards, Merchant Cash Advance (MCA) is a simple and easy way to get quick cash and repay as a percentage of future credit and debit card sales.
Easier to qualify – With cash-flow based criteria, qualifying for MCA is relatively easier among small business loans.
No set period to repay – As it is technically an advance that is repaid as a fixed percentage of future merchant receipts, there is no set period to repay.
Any business with significant credit and debit card sales stands to benefit from the MCA Program. Following are some examples:
Eligibility – Eligibility for an MCA advance is based on assessment of your most recent and estimated credit card sales.
Advance amount – Amount approved would depend on factors such as time in business, your industry, monthly revenues, existing debt repayments, etc.
Repayments based on factor rate – Repayments are calculated based on a factor rate which should not be confused with the standard interest rate. For example, for an MCA of $10,000 at a factor rate of 1.20, you would repay a total of $12,000 ($10,000 X 1.20). If it is agreed to repay at a rate of 10% of daily credit card sales and your daily sales are $333 (approx. $10,000 per month), it would take approximately 12 months to repay $12,000 ($333 X 30 X 10% X 12).
Repayment amount scales with sales – Should credit card sales grow, so would the MCA payments, and the balance would be paid off sooner. However, the amount to be repaid would still remain the same at $12,000.
Frequency of repayments – Repayments are integrated with your merchant processing account and are typically remitted either daily or weekly.
Simply click the link below to schedule your free discovery session now.
Review options with your funding advisor and choose one that best fits your needs.
Once your application is approved, receive funds as soon as the next business day.
Ready to grow your business?
Get approved today and get access to your money within as little as 24 hours. Prequalify with no impact to your credit!
Small Business Loans. Investment Property Loans.
Phone. (844) 467-7973
Address. 7697 Innovation Way, Suite # 200, Mason, OH 45040
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