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What is a Merchant Cash Advance and is it right for my business?
A Merchant Cash Advance is generally intended for small businesses that can not obtain a traditional bank loan because of credit or lack of collateral. This financial funding option is based on a percentage of your future sales and can meet a variety of business needs. Often, companies will use our service when they believe that the advance can offer expanded future sales that outweigh the cost of the advance. One of the advantages of a Merchant Cash Advance is that they are generally processed quicker than traditional loans and allow greater flexibility in payment, as the amount corresponds with the amount of sales.
Once you submit your application, with at least 3 bank statements, a consultant will discuss with you how much money you qualify (based on average monthly sales volume). If you agree to the terms, you will receive a contract spelling out all of the specifics of the agreement. After signing and receiving a funding phone call, the funds will be deposited in your bank account as early as the same business day. In return, we collect a small, agreed upon percentage of your daily revenue until the terms of the agreement are satisfied.