Raising capital for your business has become easier than ever before as there are plenty of options available for the funding. Businesses today are more invested into using card payment devices and venturing on the merits of cashless transactions. This has become one of the easiest ways of availing working capital finance.
When you need to raise capital for your start-up company or small business, merchant cash advance or MCA has been a trusted shortcut for funding the businesses.
It has been a convenient option for growing the business by sustaining the temporary cash flow.
How does it work?
Since MCA is not a loan, it is given against the business’s future income. How it works is by approving a lump sum paid upfront by the merchant cash advance provider and it is then automatically repaid using a percentage of the daily credit card receipts.
Why is it convenient?
What makes merchant cash advance different than the other available small business funding options is that there are little requirements of a perfect credit score or mortgaging any property. There is hardly any documentation required and the money can be received within 48-72 hours. Cash advances are always helpful, more so when there is an immediate opportunity where you have to take a decision within a short span of time.
- Straightforward application: Business owners can get MCA online. All they need to do is fill up the application and upload the supporting documents and get the processing start.
- Flexible payments: MCA allows more flexibility as the payments are based on a flat percentage of the sales on your credit card. This basically means that the payments are proportionate to whatever the business is bringing in.
- Fast ways of funding: One of the main reasons why MCA has seen this huge popularity is because of its fast approval and funding. It is certainly a plus if there are urgent situations like you need to cover payroll or have to tackle an immediate business expense.
The team of experienced financers at Funding Source Capital LLC specializes in merchant cash advances for small-midsized ventures. Dial (855) 214.2143 for detailed information or visit their website Fundingsourcecapital.com to understand more about business financing.