Business Cash Advance
What is a merchant cash advance?
A Merchant Cash Advance (MCA) is a form of financing where a business sells a portion of its future credit card sales in exchange for immediate funding. Rather than having a set repayment schedule with fixed payments, repayments are made by automatically deducting a percentage of the business's daily credit card transactions. This can provide flexibility as the repayment aligns with the business's sales volume, but it's important to note that MCAs often have higher costs compared to traditional loans.
Minimum requirements for a merchant cash advance
To qualify for an SBA loan, businesses must meet certain criteria, including being classified as a small business, having been operational for a specific period, demonstrating profitability, and possessing a strong credit history.
Time in Business
5 month minimum
What Documents Are Needed To Apply?
Voided Business Check
Profit and Loss Statements
Business Tax Return
Personal Tax Return
Business Debt Schedule
Get loan options from multiple lenders
Talk to a business loans specialist at:
Apply for a MCA in as little as 10 minutes.
1. Complete your application
Answer a few question about your business and your personal loan preferences so we can match you to the lender offering the best rates and terms for your needs.
2. Speak to our underwriter
Meet your personal underwriter here to ensure we have all the documents and information we need to ensure we get you the best options for your business in the shortest amount of time.
3. Review your loan options
Check out the loan options available for your business, choose the one that makes the most sense for you at this time
4. Receive funds
Once you decide what works best, we'll have the capital in your account in less than 24 hours
Why Use Lendtek for your SBA Loan?
$100M Funded to Small Businesses Throughout the US
75+ Lenders in our marketplace
5000+ Loans Funded over 9 years
Benefits of an MCA
Quick Access to Capital: MCAs provide immediate funding, often within a few days, making them a useful tool for addressing urgent financial needs.
Flexible Repayment: The repayment amount fluctuates with your daily credit card sales, aligning the repayments with your business's revenue flow.
No Collateral Required: Unlike traditional loans, MCAs do not require physical collateral, making it an option for businesses that lack assets to pledge.
Credit Score Flexibility: Approval for MCAs often relies more on your business's sales history than on your credit score, making it an option for businesses with less-than-perfect credit.