April 28, 2020
An MCA or Merchant Cash Advance is not technically a loan, but rather a cash advance based on credit sales of the business. If you have a small business, you can apply for MCA so you can have an advance deposited into account faster.
MCA is most often used by small businesses that do not qualified for a regular bank loan. If you are running a small business and you don’t have cash on hand to grow your business, a merchant cash advance is for you. MCA companies provide funds to businesses in exchange for a percentage of the businesses’ daily credit card income.
Additional benefits of Merchant Cash Advance is that you can get your money easily, as easy as one to two days and you can be easily qualified. Providers don’t need collateral or credit score. They are more interested in your sales history rather than your credit history. But this will depends if you can discuss your credit volume sales over the past year.