Working capital can make or break your business. After all, you need to manage inventories, take your business to the next level, and so on. A merchant cash advance (MCA) has become an extremely popular type of business financing among merchants in recent years and plays a special role in crashed economies. This article is about MCAs and the perks they offer.
Merchant Cash Advance & Its Benefits
MCAs are the preferred business financing option for many merchants. Be aware that an MCA isn’t a loan: it’s a sale. You just get upfront money in exchange for the sales you’re expecting to have. So, MCA providers aren’t being regulated the way loan providers are.
Below, you can read the perks MCAs offer to merchants:
- Quickest Access to Business Financing
Timing is vitally important when it comes to business financing. MCAs are among the quickest funding options.
- Straightforward Process
MCAs boast hassle-free online applications, same-day business funding, and little documentation.
- No Need to Have an Exceptional Credit Score
Even if your credit score is away from being stellar, you can qualify for an MCA. Providers are more interested in the level of business bank account sales you’re making on a monthly basis. With a trustworthy alternative online lender like FirstAmericanMerchant.com, you can be sure to get easily approved for the safest and cheapest rates for a merchant cash advance in the space.
FAM is an award-winning business financing provider that’s famous for its MCAs. FAM specializes in the high risk space, so no credit or bad credit isn’t an issue for FirstAmercianMerchant.com.
- Slow Month Means Less Repayment
Repayment is based on your sales. So, a slow month means slow repayment, and a more successful month means higher repayment.
- No Need to Provide Collateral
MCAs are unsecured. Thus, unlike many other funding options, MCAs don’t require you to put your economic safety on the line.
- No Restrictions on Capital Use
Unlike other business financing options, MCAs don’t put limitations on how the capital must be used.
- Easy to Obtain
You can find the highest approval rate with an MCA.
Cash flow is critical to the success of any small to mid-sized business. MCAs may not be the most suitable option for all businesses. However, they come with more than one advantage for a large number of businesses, especially for those who can’t qualify for traditional financing.Get Started Now