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Merchant Cash Advances - Apply For $3,000 To $500,000

As a Merchant Cash Advance broker, we can match your loan requirements with the best lenders across the US, with bad credit and no credit check options too. Borrow $3,000 to £500,000 over 3 to 12 months to get working capital for your business. Complete our form to start your application today!

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What is a Merchant Cash Advance?

A merchant cash advance (MCA) gives your company an upfront sum of cash which you can use for everyday costs, expenses and growth opportunities. 

You can repay using future debit and credit card sales, with lenders taking a small fee of interest on top. Or if you prefer, you can pay back in monthly installments over 3 to 12 months.

This is an alternative type of business loan, designed to give small and large companies some working capital and it is ideal for places that take regular credit card payments and need some cash flow including attorneys, dentists, doctors, gas stations, lawyers, pharmacies, restaurants, retailers and more.

The loan is unsecured, so you are not required to give up or potentially lose any type of collateral, which also makes the application process quicker and can be funded within 24 hours.

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Key Features

Min Loan Amount $3,000
Max Loan Amount $500,000
Duration 3-12 Months
Repayments From Future Debit and Credit Card Sales
Eligibility Min. 3 Months Bank Statements
Factor Rate 1.0 to 1.5
APR 250%
Same Day Funding Yes

How To Apply For a Merchant Cash Advance in 3 Steps

apply form

Step 1

Complete our form provided or click on ‘apply now’ to tell us your requirements. Our team will respond within minutes and will request 3 months of bank statements and other records. You can also grant us secure access to your bank account’s transactional data to speed things up.

decision

Step 2

Our advisors will process your application by reviewing your records and we aim to fund your loan within 24 hours.

funded

Step 3

Success! You have been funded and payments will be automatically collected from your business’s daily or weekly debit and credit card sales or from your bank account if you prefer.

merchant cash advance example

What is the Eligibility for a Merchant Cash Advance?

Merchant cash advances are available for businesses of all sizes and the eligibility criteria is a lot more basic and straightforward than your traditional business loan. 

Although this may vary between lenders, as a guideline, you should have:

  • 2 years of business history (been trading for 2 years)
  • A credit score above 525 (business or individual owner)
  • A regular flow of credit card transactions
  • Annual cash flow of a minimum of $180,000 (may vary between lenders)

Merchant Cash Advance Example

Betty’s Hair Salon borrows $20,000 at a factor rate of 1.5 over 12 months. She will owe a simple 20,000 x 1.5, which is $30,000 taken directly from her future credit card and debit card sales.

How Much Does a Merchant Cash Advance Cost?

Unlike a traditional business loan which is charged around 3% to 7% monthly interest, MCA’s uses a factor rate typically of 1.0 to 1.5, so you just take the amount you have borrowed and times it by 1.0 or 1.5. This makes merchant cash advances cost quite a bit, similar to an APR of around 200% to 350% depending on your business, industry and credit score.

What Information Do I Need to Provide To Apply?

Your application will be processed on a case-by-case basis and you will typically need to provide the following:

  • 3 months worth of business bank statements
  • Owner’s proof of identity – driver’s license or passport
  • 1 to 2 years business tax returns
  • A business credit check

Having this information on hand and ready to send will certainly speed up your application. 

If you are looking for merchant cash advances with no bank statements, this may be possible if you can provide some other information such as consistent credit card statements, a good credit history and profitable business. However, in most cases, the lenders will request at least 3 months worth of bank statements to begin your application.

If you are looking for merchant cash advances with bad credit, this is something that we can help with. If you are generating consistent sales through credit cards and debit cards for your business – whether you are a hotel, restaurant or shop – the lender is able to collect repayments from future sales, which gives them a lot of security. But provided you meet the other criteria, we can certainly help you get the loan you need.

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What Companies Are Merchant Cash Advances Best For?

Accountants, Attorneys, Barbershops, Beauty Salons, Cafes, Dentists, Doctors, Fashion Retailers, Gas Stations, Grocery Stories, Gyms, Hairdressers, Hotels, Lawyers, Pharmacies, Restaurants, Retailers, Ski Lodges, Startups, Supermarkets, Travel Agencies, Tech Companies, Water Parks

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Where Can I Find Merchant Cash Advances?

We are a merchant cash advance broker across the whole of the USA, for all states, including: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Washington DC, West Virginia, Wisconsin, Wyoming

What is a Merchant Cash Advance Loan Used For?

  • Growth opportunities
  • Marketing and advertising
  • Equipment financing
  • Buying inventory and stock in bulk
  • Hiring new employees
  • Investing in staff training
  • Keeping your cash flow in check

Can I Get a Merchant Cash Advance On The Same Day?

Yes, absolutely, you can get a same day merchant cash advance, or within 24 hours. You can speed this up by having at least 3 bank statements ready to go and any other relevant information about your business’s revenue and cash position. You can even grant us access to your bank account’s transactional data for a quick process. And be sure to make yourself available by email or phone for any follow up questions that our team may have.

FAQs

How Are The Rates Determined For Merchant Cash Advances?

The cost of a merchant cash advance loan is determined through a factor rate, ranging from 1.0 to 1.5 throughout the duration of the loan. This fee will depend on various factors including your industry, credit score, volume of sales, track record, revenue and more.

Are Merchant Cash Advance Loans Regulated?

Merchant cash advances are regulated by the Uniform Commercial Code in each state, which is not subject to National and Federal Regulation. It is always important to take extra steps to confirm that the company you are working with is legitimate and is offering affordable rates – and this is on you the customer to do your due diligence because of limited regulation.

Is APR Used By Merchant Cash Advance Lenders?

No, merchant cash advance companies do not use APR, which can make it hard to compare to other mainstream, off the shelf financial products such as business loans. However, when calculated as an APR, it is around 200% to 350%, which is on the high side and closer to products such as payday loans. It is important to note that the APR is inflated due to the short term nature of the product (being often less than 1 year), being unsecured and its fast availability.

Can I Get a Merchant Cash Advance With No Credit Check?

If you are looking for merchant cash advances without credit checks, this might be tricky, since it is a typical requirement of any type of business loan, MCAs included. However, you may be able to bypass this with some lenders if you are able to give access to your bank statements and accounts and have a steady volume of cash and sales coming into the business. This may be considered on a case-by-case basis by the lender.

Is it Cheaper to Pay Off Early?

Yes and no. Overall there is less debt that is accrued, because the loan is not open for as long. But the APR is higher if you pay off sooner. So if you are paying off your merchant cash loan early, it is best to do it several months earlier (such as 6 to 12 months) because 1 or 2 months won’t make much of a difference.

Do I Need To Use Collateral To Be Eligible?

No, the loan is unsecured, meaning that you do not require any assets or collateral to be eligible for a loan – and therefore you do not risk losing this if your loan is in arrears. 

What Happens if I Cannot Repay?

If you fail to keep up with repayments or stop receiving any cash into the business, you may incur additional fees, penalties and it may negatively impact your credit score. There is less risk for the lender because they are taking a percentage of future sales into your business. Assuming you have a steady flow of customers and money coming into the business, you should be able to keep up with payments.

Do You Work With Direct Lenders?

Yes, we work with a number of direct lenders in the USA who are licensed and experienced with handling all kinds of MCA enquiries and are used to funding loans within 24 hours. We offer a completely free service and will not pass on your details to any other companies or providers without your permission. There are no fees and it will not impact your credit score in any way.