Merchant Card Advances
A merchant cash advance (MCA) isn't really a loan, but rather a cash advance based upon the credit card sales deposited in a business' merchant account. ... Banks look at daily credit card receipts to determine if a business can pay back the advance in a timely manner and will provide a set payout based on your history
Securing Operating Capital
A merchant cash advance allows a business owner who accepts credit card payments or has other payment or receivables streams to obtain an advance of the funds regularly flowing through the business’ merchant account. A merchant cash advance (MCA) is not a loan, but rather an advance based upon the future revenues or credit card sales of a business. A small business can apply for an MCA and have an advance deposited into its account fairly quickly. At IC Plus, we can quickly assess your current financial conditions to determine what type of MCA your business qualifies for!
Merchant cash advance providers evaluate risk and weight credit criteria differently than a traditional banker might. An MCA provider looks at the daily receivables or credit card receipts to determine if the business can pay back the advance in a timely manner. Basically, the small business is selling a portion of future future revenues or credit card sales to acquire capital immediately.
Rates on a merchant cash advance are typically higher than other small business loan options (sometimes higher than triple digit annualized interest rates). An MCA provider will often approve an advance for a business that might not qualify for a business loan, but has a steady influx of credit card payments. Any business owner considering this option should make sure he or she understands the terms being offered so they can make an informed decision about potential ROI.
BIZFUNDS™ CASH ADVANCE PROGRAM
Opening a new small business requires plenty of hard work, dedication, and funding. Many business owners file for loans, grants, or other forms of financial assistance when getting started. However, if loans aren’t for you and filing for a grant isn’t your thing either, consider applying for our partners BizFunds™ program. Through this program, they provide qualifying businesses with funding by purchasing a pre-determined amount of your future credit card (Visa®/Mastercard®/Discover®/American Express®) sales volume. Then, instead of a fixed monthly payment, you pay an agreed-upon percentage of your daily credit card sales back to us until the cash advance is paid in full.
Get seamless, straightforward access to cash for qualifying businesses. There are no fixed monthly payments, no interest, and no hidden fees – ever. If you qualify, complete our simple application process and you can expect to receive funding within a week of approval. Reach out to our team today for more information or to get the process started!
