Business Cash Advance
What is a merchant cash advance?
Businesses that wants quick capital can sell a part of its future credit card transactions to a merchant cash advance provider (MCA). Repayments are made by automatically removing a portion of the company’s daily credit card transactions, as opposed to having a defined repayment schedule with fixed payments. As long as the repayment plan is in line with the company’s sales volume, this can offer flexibility. However, it’s crucial to remember that MCAs frequently have higher charges than conventional loans.
Requirements for a merchant cash advance
Enterprises must fulfill specified requirements in order to be eligible for an SBA loan, such as being categorized as small enterprises, operating for a predetermined amount of time, proving profitability, and having a solid credit history.
Annual Revenue
$100,000
Credit Score
400+
Time in Business
5 month minimum
What Documents Are Needed To Apply?
Drivers License
Voided Business Check
Bank Statements
Balance Sheet
Profit and Loss Statements
Business Tax Return
Personal Tax Return
Business Plan
Business Debt Schedule
Get loan options from multiple lenders
Talk to a business loans specialist at: (916) 719-8433
Apply for a MCA in as little as 5 minutes.
1. Complete your application
In order to match you with the lender that offers the best rates and conditions for your needs, provide a few details about your business and personal loan preferences.
2. Speak to our underwriter
Meet your personal underwriter here to make sure we have all the paperwork and data required to provide you with the best alternatives for your company as quickly as possible.
3. Review your loan options
Examine the various loan alternatives accessible to your company and select the one that best suits your needs right now.
4. Receive funds
In less than 24hrs, when you determine what works best, we’ll deposit the funds into your account.
Benefits of an MCA
- Quick Capital Access: MCAs are a helpful tool for handling pressing financial demands since they offer quick money, frequently in a matter of days.
- Flexible Repayment system: The repayment amount varies according to your daily credit card sales, allowing the repayments to be in line with the cash flow of your company.
- Non Collateral Requirement: MCAs don’t require tangible security like regular loans do, they are an option for companies without assets to pledge.
- Flexibility With Credit Score: MCAs are an alternative for firms with less-than-perfect credit because approval for them frequently depends more on your company’s sales history than on your credit score.
Why Use Assetcc for your SBA Loan?
$100M Funded to Small Businesses Throughout the US
75+ Lenders in our marketplace
5000+ Loans Funded over 9 years