Merchant Cash Advance Is It a Viable Option?

Merchant Cash Advance – Is it a Viable Finance Option?

Owners of growing businesses who do not hold a good credit card history can turn to a Merchant Cash Advance to get their company funded. The advantage of getting a merchant cash advance (MCA) is that your business will have the chance to get funded while it is still growing and does not yet posses a good credit sales record.

Because of the high numbers of small business owners that are rejected in availing a traditional bank loan, more and more entrepreneurs go for a merchant cash advance instead. They offer an easier and quicker funding for any type of developing businesses without the need for complicated requirements.

The MCA is a funding process that done through credit card factoring. Here, selling a percentage of your daily credit card sales to the MCA provider is done instead of collaterals and loan interests. Usually, the percentage will be around 12 to 20 percent of your credit sales. The underwriters will calculate all the sales your business is having through your registered credit card account. The repayment money will be deducted from your business’ monthly sales to the cash advance lender. The process will continue until the cash advance is completely paid.

There are no specific deadlines when repaying the cash advance. It will all be determined on how much your business is earning. So if your business has improved and the credit sales rise, the Merchant Cash Advance provider will get repaid a lot quicker. In case there are no improvements and the sales did not increase, there will be no risks on your behalf and the cash advance lender will not take legal actions against you. That is the advantage of having no collateral and strict agreements.

Merchant cash advance offers a fast processing, so that your business will get funded right away. Just a few days after your application for the cash advance has been approved, the money will be forwarded to your account. There are also no need for any processing fees and upfront money.

In order to get a cash advance for your business, you will need to present the following:

• Evidence that your business has been operating for not less than 6 months.
• A record of your past credit card transactions of the last 12 months.
• A document regarding your lease (You need to have at least one year confirmable lease)
• A transfer of all your credit card transactions to the machines of the MCA provider (only some providers don’t require this)
• Your business needs to be accepted and legal

Upon presenting the said requirements, the underwriters will evaluate your application for a credit card sales advance. All you need to do is wait for a little while and the cash will instantly be forwarded o your account.

That is how easy MCA works! It gives your business the chance to get funded even while are struggling with financial issues.

Rob Olson

Quantum Merchant Services

7300 Hudson Blvd

Oakdale, MN 55128

1-888-881-0657 ext 707