Merchant Cash Advance

Find the Lowest Rates for a Merchant Cash Advance

What is a Merchant Cash Advance?

In the world of small business ownership, you may find yourself short on working capital and long on bills at times. Unfortunately, taking a long-term loan out for your current needs is not always the most feasible option, but what else can you do? Luckily, there is a type of product financing called a Merchant Cash Advance (MCA).

Because of how it is funded, the MCA is not considered a business loan. It’s simply an advance on the cash revenue that you would likely be making in the future based off of your recent and past sales and revenue.

The MCA is also known as a Business Cash Advance. Small business owners can raise money quickly by selling a portion of their future sales at a discount to a funder in exchange for immediate cash for the business. The repayment method of the money can be determined by the lender, but it is typically either automatically withdrawn as a percentage of your daily credit card and debt sales or your daily deposits in your business bank account.

This repayment method is more flexible as it’s attached to your future sales, making it perfect for most business owners. The future payments fluctuate until the cash advance terms have been met, so the amount taken out depends on your sales. This provides you as the owner with relief, so if you have slow sales, you don’t have to pay a fixed amount that day. However, because this product does not have a fixed term, there is no certain timeframe of repayment.

Due to this unique repayment process, qualifications for approval through AdvancePoint Capital are easier than that of traditional business loan financing.

To qualify, business owners must have:

  • Their credit score run. Although due to the repayment terms, MCAs through AdvancePoint Capital can be approved for credit scores that are Mid-Prime to SubPrime, including scores as low as 500.
  • A minimum of 6 months in business with a record of revenue for those months.
  • Business bank statements, although this loan allows for lower average daily balances in your business bank statements and also allows for some Overdrafts/NSFs in your statements.

BUSINESS CASH ADVANCE

Eligibility Requirements:
Application A simple one page application
Paperwork Provide most recent Merchant Processing Statements and/or Business Bank Statements showing consistent cash flow. NO TAX RETURNS REQUIRED!
Credit All credit types considered from excellent to poor
Time in Business In business for a minimum 6 months. NO START-UP BUSINESSES

Basic Features:

Advance Size

$10,000 up to $500,000

Terms

No term limits

Payment

Flexible repayment options of a percentage of future sales

This is a fast, convenient, and straightforward way to get the money you need for your business – now! Get Your Quote Today by filling out our simple form.

The fast, convenient and straightforward way to get the money you need for your business – now! Get your Quote Today by filling out our simple form.

Get Quote Now!

Who Can Qualify for a Merchant Cash Advance?

Even though the terms for approval are more lenient, there are still restrictions to this type of cash advance. The most common business owners who qualify are ones that heavily rely on credit card sales for their sales deposits because this reduces the lender’s risk.

Common businesses who utilize this funding option are restaurants, auto service centers, dry cleaners, e-commerce online stores, and other retail stores. Seasonal businesses also use this type of financing commonly because they have fluctuating sales. This means that there are periods of heavy sales and other seasons of poor sales, so the MCA is perfect for them to pay back without concern of how to pay another big monthly bill.

The benefits of an MCA

  • Credit is reviewed, but Substandard, Mid-Prime to Subprime Credit are all considered.
  • Approval can be given even if you have a low monthly or annual revenue.
  • Even if you have challenged or no financial statements available such as Tax Returns, Balance Sheets, or Profit & Loss, your loan application will be considered.
  • Concerns about business bank statement issues, such as low daily balances and/or Overdrafts or NSF’s, can still be approved.
  • Even if you have less than 3 years in business, your MCA can be processed.
  • If you have the need for speed, this is the financing for you. When you need money faster than the traditional process allows, the MCA gives you quick access.

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What is needed to apply for a Merchant Cash Advance?

Documents you may need include but are not limited to*:

  • 1 Page Application
  • Business Bank Statements
  • Merchant Processing Statements (if applicable)

*Requirements can vary. Some require only bank statements, but others will require more.

Check out How to find the Best Small Business Loans to weigh all the benefits and evaluate the decision to get funding for your business.

The fast, convenient and straightforward way to get the money you need for your business – now! Get your Quote Today by filling out our simple form.

Get Quote Now!

Get Quote Now!
* All loans made by either WebBank, an FDIC-insured Utah industrial bank, or Bank of the Internet Federal Bank, an FDIC-insured federally chartered thrift located in California. In connection with the loans, the Banks' underwriting conditions and terms apply.