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Merchant Cash Advance
Is your small business struggling to get a traditional bank loan? If yes, then Merchant Cash Advance could be the right alternative for you. You, as a business owner, can receive lump sum funds from a merchant cash advance provider upfront. And then repay the advance with a percentage of the business’s sales!
Loan Amount
$2,500 to $500,000
Loan Term
3 to 36 months
Time to Funds
1 to 7 days only
Interest Rate
as low as 10%
What is Merchant Cash Advance?
A Merchant Cash Advance is an excellent alternative to traditional bank loans for small businesses. As a business owner, you can receive funds as a lump sum upfront from an MCA provider. You can subsequently repay the advance with a percentage of the business’s sales.
Please NOTE that a Merchant Cash Advance is only available for businesses that process credit or debit cards for payment. If your business doesn’t take payment through credit cards, MCA will not be available to you.
So, an MCA can be an excellent option for businesses that have high credit card sales volume, need funding quickly, and are having difficulty qualifying for a traditional loan.
Not sure if Merchant Cash Advance is right for your business?
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Advantages of Merchant Cash Advance
Why Merchant Cash Advance is right for your business?
How does a Merchant Cash Advance work?
Merchant Cash Advance is a great tool for small businesses that need access to capital quickly but don’t have too many options available. An MCA provider will provide an approved amount, and the business will repay the advance with a percentage of each day’s credit card sales. Interest rates on merchant cash advances are determined by a factor rate which is a multiplier of the principal advance.
The factor rate and subsequent APR is determined by the sales performance of the business applying for MCA. So, good revenue numbers can improve the chances of the applicant getting a lower factor rate. The credit requirements for merchant cash advances are very low. So, applicants with bad personal or business credit have a chance to make up for it with some impressive sales numbers.
Is Merchant Cash Advance right for Your Business?
If you need to access capital quickly, a merchant cash advance loan is a perfect tool for you. But you must be careful and ensure that it doesn’t put your business in cash flow jeopardy. Your business can use this type of financing to augment a short-term cash flow crunch. The ideal use for an MCA is to fund a short-term opportunity to generate additional ROI on a project.
To successfully leverage an MCA, you should borrow to augment some form of ROI-generating activity. You must be extremely mindful of the costs and understand them in relation to the ROI. If your business can manage to do that, a merchant cash advance could be a good option for you.
There are several merchant cash advance companies that you can approach for an MCA. Finance professionals at GConectPro can help you get approved for an MCA from the merchant cash advance company of your choice at the earliest!
Best Use-case scenarios for Merchant Cash Advances
- Temporary cash flow assistance
- Purchasing inventory at a deep discount
- Unplanned expenditures
- Pay off other debts that have become due
- Working capital
Documents Required to apply for a Merchant Cash Advance
- Credit Card Processing Statements
- Driver's License
- Voided Business Check
- Bank Statements
- Credit Score
- Business Tax Returns
Merchant Cash Advance Application Process
with Global Connect Pro Financial
- Application form: Firstly, you need to fill out our online application form giving us basic details of your cash advance requirements.
- Advisor Call: Our Financial Adviser will call you to discuss your qualifications, MCA options, and help you prepare for your merchant cash advance application.
- Loan Application: Once all the documents are ready and qualifications are met, we’ll move on to the actual application with the MCA provider.
- Loan Approval: Our Financial Advisers and Agents will keep in touch with the provider to ensure that your merchant cash advance is approved at the earliest.
We can help you secure the funding that your business needs!
With GConnectPro, choose from the top Merchant Cash Advance providers and get funds on terms that tick all the right boxes for your business. We help businesses grow and succeed!
Get your Merchant Cash Advance today
There's no fee and it won't impact your credit.
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(888) 999-1405
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