MCA- IDEAL OPPORTUNITY TO SUSTAIN CASH FLOW
MCA- Ideal Opportunity To Sustain Cash Flow
For business owners, sustaining cash flow into the business should be a priority. However, raising capital for a start-up or a small business is no easy task. Fortunately, there’s more than one way to have fast capital, and the very first option starts with MCA.
Merchant cash advance or MCA is a one-time capital infusion exists in the form of a lump-sum payment to a business in exchange (repaid) using a percentage of your daily credit card receipts.
MCA financing is one of the best choices to consider when you are in dire need of funds for your business. It can help a business owner to receive a lump sum of capital from a moneylender in return for an assured amount of the business’ future credit card sales.
From a streamlined application process and quick access to capital, to credit protection, MCA financing can reap plenty of benefits. Here are the things proven to make you choose MCA:
No strict requirements
A merchant cash advance is advantageous and an ideal opportunity to sustain cash flow. The best advantage of merchant cash advance is that if you have a history of bad credit, you are still eligible and can claim for it, even if your credit score is lower than 500.
Easy To Obtain
Rather than rushing off your feet with hour-long requests that don’t lead to any positive response, obtaining a merchant cash advance is stress-free. All you have to fill in a form online and provide specific information about your business. Usually, the claimant is responded within 48 hours and can obtain MCA within seven days. Unlike commercial loans that can take weeks or even months to be processed, MCA is quick and get you the approval within a few days.
No Burdensome Paperwork
Raising fast capital for your small business is important, and if you want to get the right finance at the right time, MCA is one option you can avail. Unlike traditional business loans that involve strict credit requirements, intricate contracts, and extensive documentation, MCA can be obtainable with no burdensome paperwork. Suppliers look at a business’s daily credit card receipts to determine the owner’s ability to repay.
No Need To Pay Back
MCA is not a loan. Instead, it is a sales transaction in which you don’t require any collateral like a business loan. This means you don’t have to pay for any personal or business possessions if the sales drop and you lose the strength to pay back. In fact, there’s no concept of repayment exists in a merchant cash advance. However, the provider may require a personal guarantee that makes you responsible for paying back the advance. In this case, the provider may still have a chance to recover losses.
Above all, the merchant cash advance is the most preferred option over the commercial loan. As an important possible funding source, MCA has been used by companies for getting out of tight situations and plays a pivotal role in maintaining inventory and business growth.
