Who Is Qualified In Getting A Merchant Cash Advance - Cash Advance Grant?

Merchant cash advance (MCA) is a distinctive funding program that is the same with

traditional factoring, but the purchases depend on the business future sales. With the MCA, the merchant will receive the money as a discounted upfront payment for its potential credit card revenues. The future repayment process is done through a monthly deduction percentage based on the agreement of both parties.

Bank loan alternatives such as MCA offer a very flexible repayment term. Apart from that, there are still other benefits that a small business can get with a business cash advance. It has attractive features that can help business owners in solving their financial problems easily.

Features of Merchant Cash Advances

It offers an easy and quick application as well as funding process.

There are only minimal requirements.

No need to pay any processing fees.

There is no need for a good credit score and financial background to avail the cash advance.

With the mentioned advantages and features regarding MCA, the question is: Who is qualified in getting the business cash advance?

Based on what a MCA is, to apply for it will require that the business is able to put up a sales transaction using debit and credit cards. Even though your business has a very limited asset, you can still get a high chance in getting approved by the provider as long as they get a consistent flow in receiving their credit line.

No matter what business or industry you have; it can be a restaurant, retail shop, franchise, or any forms of small and medium business, it can be qualified for an advance. The MCA provider may require a common prerequisite of meeting the minimum sales in operating the business as well as its monthly card sales. The minimum amount will depend on the sales of the business that usually ranges from 4 months to year. That will also be the time for the repayment process.

The mentioned qualifications are mostly applicable to companies offering bank loan alternative but it may vary from company to company. Others may also ask for different requirements. In order for you to avail the best deal, you first need to compare features among different MCA companies. This is important for you to get the much needed funding for your business.

by: John Gotidoc

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