Merchant Cash Advance
Searching for affordable capital is no easy task. You want to make sure you don’t jeopardize your company with a loan that may not fit your needs. As an established business sometimes you just need the emergency money for repairs or just more inventory. There are fast and flexible loans available if you need them. Banks like to take weeks to qualify even the strongest credit profiles. Pairing with the right lender is imperative when it comes to a Merchant Cash Advance loan as not all rates and certainly, not all terms are created equal.
When does it make sense for a business to utilize a merchant cash advance? A Merchant Cash Advance (MCA) used to have a stigma attached to it, as an MCA was primarily used for businesses that were in financial trouble. You must understand this type of financing does not build business credit because merchant cash advance providers do not report to business credit reporting agencies. However, for the correct usage, these loans can offer many benefits. These days, businesses of all sizes and financial standing use MCAs for everything from floating payroll, to buying new equipment, and even funding short-term projects without having to dip immediately into the company’s on-hand funds. Other examples can include taking the opportunity to purchase inventory in volume at a lower rate, seasonal marketing, or other short-term capital requirements. It is also used by many be an option for a business that does a lot of credit card transactions and has less-than-perfect credit.
At Mission Valley Capital we only work with top tier lenders so we can provide terms that you can easily manage. We provide loans that are simple interest, have no pre-payment penalties, with the most aggressive rates in the industry. Even if your credit has fallen since you opened a business we can help get you the money you need to get back on track. We will walk you through the loan terms to make sure you are taking on a debt that will allow you to grow your business, not lose it. Too many people try a One-size-fits-all loan and it’s too late before they realize that they weren’t setting themselves up for success. Understanding what is needed to help you achieve success is very important to us.
Here are minimum requirements to secure a Merchant cash advance with Mission Valley Capital:
• Company has been in business for at least 12 months
• A minimum of 10 deposits per month (retail)
• Minimal NSF/Negative Revenue Days (<5 per month)
• MAINTAIN daily average balance of $3,000
At Mission Valley capital we provide merchant cash advance financing of up to $200,000 per business location. As an alternative to a traditional small business loan, MCAs are backed by future credit card sales (Visa, MasterCard, American Express, Discover, etc.) and available within 7 days or less (We have funded within 48 hours of application).
Example of Mission Valley Capital Client using a Merchant Cash Advance loan: A tire repair company owner came to us needing a $10,000 Merchant Cash Advance so that he could have tires ready at the location to make the sale as the client needed. In his industry the shop with the largest variety of inventory can accommodate the largest population of customers. That in turn creates the largest volume of sales and repeat customers. While we were discussing the business in detail it also became apparent that if he had another vehicle lift at his operation he could increase traffic to his shop by 30% or more. He had the space and infrastructure for the lift but all of the revenue he made was going into labor and inventory. He priced the lift out and purchased it using the cash advance we provided for him. With simple interest payback terms he was able to formulate exactly what was needed to pay the loan back and increase traffic. It was a simple math problem and with the injection of cash he was able to take control of his business and reach the full potential of the business.
Here is all we need to get started:
• 3 months most recent business bank statements
• Most recent tax returns
• Driver’s License
• Voided Business Check
The advantages of securing a Merchant Cash Advance through Mission Valley Capital are:
• No Application Fee
• No Fixed Payments
• No Equity Loss
• No Closing Costs
• Easy Payback Terms
• Less than perfect credit approved
The Process is Simple
Apply: Application takes less than 15 minutes to complete
Provide documentation: Minimal documents required to get approved
Get approved: It could be as quick as 24 hours for approval
Set up credit card processing: This type of funding might require the business to switch to a new credit card processor. It is sometimes part of the approval for many M.
Receive funding: The money is deposited into the business’ bank account and repayment through the merchant account will begin automatically.
Loans that can be paid back are the only ones that should be taken on. Taking on the wrong kind of debt can send a company in the wrong direction. We’ll work with in all aspects of your business and define the amount needed to get to the next level. While we work with the best lenders in the space, rates on a merchant cash advance can be higher than other financing options. It’s critical you understand the terms you’re being offered so you can make an informed decision about the return on your investment. Many people use Merchant Cash Advance 2 or 3 times a year (paying the loan back in full each time) in order to achieve the above stated goals. Whether a Merchant Cash Advance is right for you depends on a number of things. The goal is to make your business thrive and all efforts will go into that stated goal.
We offer a No-Obligation Pre-Qualification that takes less than 10 minutes to complete. Feel free to speak to one of the partners at Mission Valley Capital on obtaining a Merchant Cash advance within 7-10 days of your application with us.