MCA is when you get a lump sum advance, and in turn remit a percentage of your business’s total monthly revenue (credit card, debit card, cash, check).
The remittance is tailored to the flow of your business’s sales. MCA is very quick and easy way to get a business cash advance with absolutely no need for any collateral – even with low credit score.
** After you pay down 30-50% of initial funding amount, you can easily and quickly get Funding Round 2, 3, 4 etc. with zero hassles.
* 6-months business bank statements only if merchant does not accept credit cards
We know the health of your business is based on more than a single number. So we use a combination of technology and real people to evaluate you and your business. Here are a few factors we consider:
Choose between fixed daily or weekly payments based on what works best for your business
Avoid missing payments and boost your business credit with automatic withdrawals
Always have the option to pay back your loan early. We also have prepayment options for you.
Nearly ALL kinds of Businesses Qualify. MCA is extremely popular in the following industries:
We can fund any business in any industry except businesses in these
Unlike a term loan, MCA remittance fluctuates with your business’s sales patterns. That’s why with MCA, there’s a holdback percentage of around 10% This is a set percentage that is withheld from your gross receipts until you satisfy your obligation. That way, a certain percentage of the sales will be used for remittance, instead of being held to a set payment.
Business owners appreciate this because there is no set payback schedule, so they have the flexibility to remit their cash advance in a similar pattern to the ebbs and flows of their sales. When sales are up, your holdback percentage will result in a higher dollar amount. If your sales are experiencing a lull, your holdback percentage will result in a lower dollar amount.
Monthly Sales
$20,000Advance Amount
$20,000Payback Multiple
1.15Daily Remittance
$87-174Payback Amount
$23,000Remittance Rate
Repayment Period (Days)
We also have weekly, bi-weekly and monthly payback options. Eligibility for the lowest rate is limited and available to those businesses with strongest cash flows and those business owners that have shown excellent payment history on prior loan products. The average rate for our unsecured cash advance is approximately 25% simple interest rate and approximately 49% in annual interest rate.
Simple Interest: Total interest you will pay, and given as a percentage of the amount borrowed, excluding fee
Annual Interest Rate: The interest rate in annualized terms, excluding fees
Annual Percentage Rate: The interest rate in annualized terms, including fees