Merchant Cash Advances are the fastest funding option for small businesses that are having cash flow problems and need access to the money in a lump sum as soon as possible. There is a reason many small businesses choose to get an MCA instead of traditional loans or lines of credit.

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Fast Approval

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Since an MCA is provided by an alternative financing company, such as an online lender the application and approval process can be completed in hours and money in hand within days. Only basic business identification information and records of credit card sales needs to be provided. Even credit score doesn't effect the approval for a merchant cash advance.

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No Restrictions

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Another advantage over traditional business loans is that there is no bank to regulate how the money is spent. Once the business receives the cash they can spend it at their own discretion. Whether it’s needed for payroll, new equipment, or to take advantage of a short term opportunity – the owner has control of where the funds go.

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Easy Repayment

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Instead of making one fixed payment every month for a set period of time, a merchant cash advance is repaid by a set percentage of the transactions in daily or weekly payments, plus fees. There’s almost always zero early repayment penalties for a merchant cash advance. MCAs are typically paid back in less than a year. Some lenders even give the option to refinance once you’re over half way through the funding term.

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Low Risk

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There is no need to put up tangible assets as collateral for an MCA. Most business loans require collateral and put the owner at risk of losing their business or personal assets. Since a merchant cash advance is unsecured there is no risk of losing property or equipment.