Merchant Cash Advance is designed for business owners who need quick and convenient cash flow.
How it works: A merchant cash advance (MCA) provides an upfront cash advance on your future credit card transactions. The funding company provides your business with a specific amount of money with the agreement that you will pay it back in full, plus fees and interest. Instead of making payments as you would on a loan, the advance is paid back gradually and automatically through collecting a portion of your business’ daily credit card sales.
Merchant Cash Advances are often used for:
- Business expansion
- Seasonal employment
- Emergency needs
- Inventory purchase
- Equipment upgrades
- Marketing & promotions