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A merchant cash advance provides upfront funding in exchange for a percentage of your future receivables. An MCA is similar to invoice factoring but relies on the overall strength of your average business checking deposits, rather than specific invoices. A funding company processes your application and determines the amount they are comfortable advancing to you. Once approved, funds can be deposited to your business checking account the very same day. Payment can be made via automatic ACH or by splitting from your credit card processor, and may be taken daily, weekly, bi-weekly or every time you batch your credit card sales.
A merchant cash advance is often the fastest form of business funding, and has no use of funds requirement, making it an ideal product for any business owner in need of immediate working capital.
If you have been in business at least six months and have a business checking account with revenue deposits of $10,000 or more each month for the last three months, you may qualify for a merchant cash advance. While credit is considered when providing offers, you may still be able to qualify for an MCA even if you have a sub-500 FICO.
Applying for a merchant cash advance is easy! Just complete our quick and simple online application and upload your three most recent business bank statements.
