Merchant Cash Advance for Emergencies

Running a business can sometimes bring in a lot of expenses more than the sales. Knowing how to get funds from the right sources is very important to keep your business going. For small and medium companies, getting a merchant cash advance (MCA) is the best option to get. As business owners, you may need your office to be renovated, increase your current inventory, fix the computers, or any upgrades on your company. With the MCA, you can get cash and spend it any way you like, and it is very easy to acquire.

Business cash advances are usually offered by MCA funding companies. With them, you do not need to present any collateral agreements, and your business does not need to have a successful credit history. Even if your business is still at its developing stage, you can already avail a cash advance without any risks and too complicated requirements.

An MCA Company works through credit card factoring. So your daily credit card sales will determine how much money will be forwarded to you, and how much the repayment amount will be for each month. Your future sale is the only thing you need to worry about along the way, as your repayment for the lending company will depend on it.

There are some requirements you need to present to the lending company to be approved of a business cash advance. First, your establishment needs to forward a lease of at least another one year from your landlord. You also need to have credit sales from $2,000 to $5,000 each month. The requirements may vary depending on the cash advance lender. Some may require you to transfer all your credit card records to their machines, and a change of account.

After your application has been approved, the money will be forwarded to your credit card. Each month in the future, the MCA providers will get a percentage from your credit card sales for the repayment money. There is no fixed amount for this. No matter how high or low your business sales are the provider will only deduct the agreed percentage from your sales.

This type of business funding is excellent if your company is going through financial struggles, and is in need of emergency funds. The money will be forwarded to you as soon as your application is approved. Usually, it will only take less than a week to get the cash. It will give your business a chance to get funded even if it is not yet a big company.