Read the frequently asked questions about merchant cash advances. Everything you need to know about the most practical way to get additional working capital for your business.

What is the difference between a Merchant Cash Advance and a loan?

1. What is the interest rate? This is probably the most frequently asked question about a merchant cash advance. The answer: zero interest. Why? A merchant cash advance is not a loan so it does not have an interest.

2. Do I need a collateral? No you don’t. Plain and simple. Again, a merchant cash advance is not a loan so you don’t need any personal collateral to secure one.

3. Is my business qualified to secure a merchant cash advance? That depends on what type of business you own (as long as it’s legal). If your business accepts credit card for payments, then you qualify for a cash advance. Examples of businesses that process credit card sales are restaurants, retail outlets such as grocery stores, boutiques, and convenient stores, service businesses such as salons, spas, barber shops, dental clinics, gas stations, and many others.

4. How much money can I qualify for? That depends on your credit card sales volume. The higher the amount you process per month, the higher the amount you qualify for. Typically, businesses qualify between $4,000 to $200,000.

5. How long will it take before receive the money? Actually, the question should be “how quick.” Typically, it takes between 3 to 7 days to approve a merchant but a lot of our clients are approved in 3 days. We make it a point to qualify and approve a merchant in as little time as possible because we understand the urgency to secure additional working capital which is mission critical.

6. I have a low credit score. Will this affect my application? No. Your credit history will be reviewed only as a part of our application process but it will not in any way, affect the outcome of your application. Again, a merchant cash advance is not a loan hence, is not tied with your credit score.

Q: How much do I have to pay to apply for a business cash advance? A: Nothing. Our MCA Funding Company Cash Advance does not charge anything when you apply for a cash advance. There is absolutely no monetary obligation from your part when you request for a quote.

Q: What fees do I have to pay after I get a merchant cash advance? A: Our MCA Funding Company charge a minimal fee which is due at closing but we never charge our clients with anything on the funding amount.

Q: What is my repayment schedule? A: Repayment of the cash advance will depend on your credit card sales. We get paid when you get paid. Our credit card processor will automatically take care of the whole process so you don’t have to worry about anything, not even writing a single check. We will collect a small percentage of your daily credit card receivables until the cash advance is repaid in full.

Q: I have an existing arrangement with another provider but I need more funding. Can you offer a better deal? A: Either call our office or send us an email to find out if we can offer you a better deal and how much we can offer. We treat our clients as partners in progress and we only want what is in your best interest so contact us to find out the maximum cash advance we can give you.

Q: Does a Merchant Cash Advance require a personal guarantee? A: Absolutely not. We offer a business cash advance, not a business loan so we do not require a personal guarantee.

Q. Is there a restriction as to where I can use a merchant cash advance? A: No, as long as the money is used for business-related expenses only. For instance, as an additional working capital, inventory purchase, equipment acquisition, hiring additional employee, payroll, among others.

Q. Who can I talk to if I have a question about my account? A: An Our MCA Funding Company Cash Advance representative will always be available to assist you if you have any questions. Our office hours are Monday to Friday, 9:00am to 6:00pm EST.