What is a Business Cash Advance?

Business Cash Advance

A Business Cash Advance is an advance on the future sales of a given business. An MCA is an option for those businesses with less than ideal credit but who maintain healthy bank balances. Typically the approval process for an MCA is faster with a higher approval rate then it is for a business term or working capital loan. The product is geared for businesses that experience seasonal dips in their sales cycle or face cash flow issues for any reason.

Funding Amount

$5k - $500k

Repayment

Daily or Weekly ACH

Factor Rate

10% - 35%

Time Frame

24 - 48 hours

Get the most from your small business

Applying for an MCA is a very easy and straightforward process. Businesses can use the funding they receive for any purpose as this product offers flexibility. Typically MCA’s are used to purchase small equipment, manage payroll, pay taxes and manage cash flow. Even though MCA products are fast and convenient, they typically come at a wide range of costs. Therefore, it is vital to speak to one of our funding experts to ensure your business gets the right MCA product for your business.

Understanding a Business Cash Advance.

A Business Cash Advance offers one of the swiftest methods of funding because you are borrowing against your business’s future earnings. Unlike other Business Term Loans, a cash advance typically does not require collateral for the loan to be awarded. All this means you can receive your cash advance in as little as 24 hours.

Qualifying for a Business Cash Advance.

Qualifying for a cash advance, like the funding itself, is often fast and easy. Due to the nature and terms of the loan, the requirements for a business cash advance are typically pretty lenient.

How to Get the Best Rate.

Securing an affordable factor rate will reduce the cost of capital on your Business Cash Advance. The first step toward securing the optimum cost of capital on your Business Cash Advance is to determine how much capital you need. Borrowing too much can increase the cost of repayment and borrowing too little can leave you in the financial pickle you’re trying to get out of. To avoid both of those scenarios, our dedicated funding managers will walk you through your options and compare your offers to help you choose a business cash advance deal that fits your needs and budget.