You’re out of inventory, a tornado took the roof — or you’ve come across a golden opportunity. Whatever the reason, you need quick cash. But if you have bad credit or no collateral, you may not be able to get a small-business loan. A merchant cash advance may be your next best option.
A merchant cash advance is financing for companies that have credit or debit card sales, such as restaurants or retail businesses. Unlike a regular loan, which is repaid on a fixed schedule (typically weekly, biweekly or monthly), a cash advance is repaid daily. A percentage of your credit or debit card sales is withheld until the agreed-upon amount has been repaid in full. The average repayment period typically ranges from three to 12 months. The higher your credit card sales, the faster you’ll repay the MCA.
Why our Cash Advance makes Sense for your Business
They’re quick. MCAs can be obtained very quickly — often within a week or so — with no heavy paperwork to slow things down.
Easier Qualification. Businesses that can’t qualify for a bank loan because of collateral requirements typically can qualify for an MCA if they have strong credit card sales.
When sales are down, your payment is too. Because the repayment schedule is based on a fixed percentage of your sales, repayments adjust based on how well your business is doing. So if sales are lagging, you repay less, giving you more flexibility to manage a slowdown in business.
Call the Experts. A merchant cash advance may be just right for you. Let our experts evaluate your needs and tailor a program that is just right for you and your business.
Uses for Cash Advance
⦁ Meeting payroll
⦁ Purchasing new equipment or inventory
⦁ Marketing and advertising
⦁ Paying taxes
⦁ General cash flow needs