What Exactly is a Merchant Cash Advance? (MCA) A MCA allows business-owners to obtain funding by leveraging their future credit card sales. Typically, only businesses that accept credit and debit cards may obtain a MCA because a small, fixed percentage of the merchant’s future debit or credit card sales are used to repay the funds.
How does an MCA work? When you apply for a MCA the company reviews your recent debit and credit card processing to determine how much money you’re entitled to. It usually takes between 24 and 72 hours to receive the capitol and you can use the money for any business expense, e.g. pay sales taxes, expand, buy more inventory, buy out a partner, etc. And as mentioned above, you’ll repay these funds through a small, fixed percentage of your future debit or credit card sales. Since the repayment is a fixed percentage, the amount you repay is manageable. Meaning, if you have a big day, you’ll pay back more. If the store is slow, you’ll pay less. This method means you’ll always have enough money to cover your expenses. For more information, call David Selig at (212) 974-3435
Merchant financing is repaid on a daily basis as a percentage of your credit card sales. Use the money to:
Borrow up to 250% of your monthly credit card sales volume in one lump sum. Use the money to pay your taxes or buy inventory.
Apply online or over the phone in minutes, get approved in 24 hours and receive funds one day later.
To get started, you’ll need to provide us with four things: