Merchant Cash Advance
Is your business dependent on Long Billing cycles? Are you constantly balancing payroll against your receivables? Have plenty of funds owed just taking to long to get to them? Need to toll up quickly for a big contract or job?
Most of our clients experience the following Capital drains and need cash infusions QUICKLY.
- Doctors – Is your Billing department constantly battling with the HMO’s to get paid? Are you waiting 90, 120 and sometimes 180 days for payments?
- Lawyers – large lawsuits and billable eating up your cash reserves? Do you need to hire specialists, consultants etc?
- Construction Companies – Are suppliers delaying your materials, bank draws delaying project completion, are you mid phase waiting for a draw?
- Trades Businesses – Waiting for the GC to obtain draw payments? are you outside your 120 days punchlists waiting for payment? Need to tool up or hire employees for a large project?
- Online retailers – Has your business grwon past your ability to buy raw materials? Do you need to hire employees for fulfillment? Cost of materials increased on existing orders?
We provide Short Term Capital to fix your Emergency needs, regardless of your credit and without going through mounds of paperwork or traditional bank lending process. Get funded QUICKLY and continue to grow your business. Once we fix your immediate, Emergency need for CASH QUICKLY, we will work with you to obtain more traditional, less expensive Working Capital. Whether its fixed term SBA financing or a simple Working Capital Line of Credit under more traditional bank rates – but for NOW let us help you solve your immediate EMERGENCY for CASH!
Some details of our program are:
- We will purchase your Merchant Receivables
- Funding in as little as 3 days from $5,000 to $500,000
- Be in Business at least 6 months
- Provide 3 months bank statements showing average monthly deposits
- Repayment as low as a 1.25 factor with Flexible terms
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.