Merchant Cash Advance (MCA)
MCA, which stands for Merchant Cash Advance, is a form of alternative financing, available to businesses, particularly those with high credit card sales. MCAs lend a sum based on a percentage of the business’s future sales projections.The business agrees to pay back the amount received, plus a fee, in exchange for the advance.Thus, the provider collects a percentage of daily credit card sales until the agreed-upon amount is repaid.
Qualification Summary
Time in Business
Minimum of 6 months or more
Creditworthiness
550 credit score or greater
Monthly Revenue
Approximately $5,000-$10,000 or more
Monthly Revenue
Approximately $5,000-$10,000 or more