What is a Merchant Cash Advance?
- A merchant cash advance can give your company access to capital funds fast. Set your business up to be able to meet its business needs based on future credit card receivables.
How does it work?
- This program gives your business access to funding quickly in return for a portion of your company’s future revenue receivables at a low price.
How do I get approved?
- To be approved for a Merchant Cash Advance, there are certain guidelines to be met. The most crucial, among others, is that your business must have a merchant account in good standing and be able to accept credit card payments, or other receivables.
Who should apply?
- Any business that accepts credit cards has a merchant account in good standing and who is in need of quick access to capital funds.
- The process to apply is quick and easy, terms are straight forward and Merchant Cash Advance funding will provide your business a flexible option because of the variable payments based on your businesses receivables.
- If your credit card sales monthly are high, if you have a large monthly receivables, or, if you are in a seasonal industry, then a merchant cash advance may be the right funding solution for you.
How are payments determined?
- Payments are calculated on a percentage of the company’s credit card sales or based on other receivables.
How long are payments made for?
- There is no set term; payments are solely based on the company’s receivables.
Are there other fees?
- Receivables are calculated and purchased at a discounted price, so fees may be added and deducted from the merchant cash advance amount.
With Penn Com Capitals MCA, applying is easy and can be done from your computer, tablet or mobile device. Simply fill out the Apply Now form, enter in your information and an agent will be in touch quickly, getting you on your way to getting approved. The process takes just minutes. Our MCA funding amounts start as low as $5,000 and can go as high as $500,000.
**An estimated completion date is calculated based on the anticipated time it will take the company to provide the receivables (which will vary based on the company’s performance. Completion estimations range from 3 up to 18 months. This is only an estimate.