How does an MCA work?
We understand that businesses have their ups and downs. Your business may have a few months where sales are booming, and then go through a time when they slowdown. Naturally, you won’t be able to remit the same amount during both periods.
That’s why with a merchant cash advance, there is a holdback percentage. This is a set percentage that is withheld from your credit card transactions until you satisfy your obligation. That way, you’ll be paying a certain percentage of the sales you make, instead of being held to a set payment amount.
Businesses that Benefit from MCA's
Merchant cash advances are especially beneficial for business owners in the restaurant, retail and services industries, to name a few. This is because these industries typically receive a large volume of credit card transactions. Businesses that either don’t accept credit cards, or receive credit card transactions infrequently, usually won’t qualify for merchant funding.
If you run a business that primarily accepts credit card transactions, pursuing a merchant cash advance could be the choice that takes your business from good to great!
How to Apply for MCA's
Applying for a merchant cash advance is simpler than you might think! To get started all we need is our application, three months of credit card statements, and three months of bank statements. If you do not process credit cards, it is OK. We can help set you up. Simply send us 3 months of Bank Statements.
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