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A merchant cash advance provider will approve your for a certain amount. The merchant will repay the advance with a percentage of each day’s credit card sales.
Interest rates or fees are determined by a factor rate, essentially a multiplier of the advance amount.
A cash advance is a way to tap into expected revenue of your business, so here are the main terms to know.
When a small business finds itself in a bind or needs access to quick capital there aren’t many options available. MCA’s are another option.
When you take out a cash advance, you’re borrowing money against your future revenue or future credit card sales. You can typically get a cash advance in a few different ways. Through out this article we will break down how to get a cash advance, how they are paid and review different services and products they can be used for.
To learn more about a merchant cash advance (MCA) complete our 15-second online application today and speak directly with a business financing advisor.
A merchant cash advance lender will provide you a lump sum of money in exchange for a percentage of your future credit card sales. Instead of making a fixed payment over a period of time your loan is paid back usually daily or weekly by the lender collecting that set percentage of your credit card sales.
To learn more on how a merchant cash advance works, complete our 15-second application and speak with a business financing advisor.
A merchant cash advance isn’t technically a loan with set terms. It is an advance on future sales and is paid back by taking an agreed upon percentage on a daily or weekly basis. The benefits of a merchant cash advance are you can pay back the loan as quickly or as slowly as your business sales allow.
Explore your options when it comes to a merchant cash advance by completing our 15-second online application today.