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How much of daily Visa & Master Card sales will be deducted to repay MCA?
The percentage of reserve varies depending on the business revenue and results of underwriting.
How to make repayment on MCA?
A reserve of certain percentage of daily Visa and Master Card sales kept aside for repayment.
How much can be expected to receive in MCA?
We make cash advances from $3,000 to $500,000. Depending on your Visa and MasterCard sales, you could receive up to 100% of your processing volume.
How long does the process take?
From pre-approval to set-up for funding will take 3 to 5 business days.
What information used to qualify for MCA?
We look at the average monthly Visa and MasterCard processing sales over a selected period, along with a credit report review, longevity of the business and if there are any other liens on the business.
Are there any fees for applying or to set-up Merchant Cash Advance facility?
Nothing. There are absolutely no application or set-up fees, closing costs or hidden cost.
What is Merchant Cash Advance (MCA)
A Merchant Cash Advance is not funding but a purchase of future credit card receivables, better known as receivable factoring.