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The Thomas Financial Group

Helping Businesses Grow and Prosper

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Merchant Cash Advance Funding

The MCA or merchant cash advance funding is very popular with small businesses as a way to get access to cash in a hurry.  If your business receives money through credit card transactions this may be an excellent option for you if the bank is too slow or has turned you down.

Merchant Cash Advance – What is it?

A MCA is not a typical loan, but an advance based on your anticipated revenue or cash receipts.  Generally you will have to provide some proof of revenue by submitting bank statements and tax records.  The lender wants to know if your business can pay back the advance.  This is very important especially since there is no collateral. Because you don’t provide collateral, expect to pay back more than you would compared to a bank which definitely requires collateral and takes longer to approve.

Why a Merchant Cash Advance?

Banks tend to take too long when it comes to providing capital for small businesses or they may simply deny your request.  Typically the merchant cash advance can provide funds in a relatively short period of time.  You can be approved in 2-3 days and have the funds in your bank in less than a week.  If equipment breaks down or needs to be replaced and you need funds quickly the MCA will solve the problem.

Good Credit or No?

In the MCA industry cash flow is much more important than credit history.  You can get approved for a cash advance with a personal credit score as low as 450.  Again, monthly revenue or credit card receipts is the primary factor for approval.

MCA Companies

There are many companies to choose from when it comes to a merchant cash advance.  Look for one that has access to many lenders, is fast and responsive and has a website that clearly provides all of the information needed to make a decision.  My recommendation is David Allen Capital, Inc.  They have an excellent website that is easy to understand and provides options.  For instance, if you only need $25,000, they have an option where you can be approved and funded the same day!  It’s call Bank Breezy and unique in the industry.   If you need more they offer up to $2 million which of course may take longer to get approved and funded.  Ready to get your funding?  Apply here:  Get My Funds Now.