What is a Merchant Cash Advance?
When you receive a merchant cash advance from Angel Financial Solution , we’ll provide you with a lump sum of capital in exchange for a percentage of your business’s future sales. That means you’ll receive working capital now, and we’ll receive a percentage of your sales until the amount of sales we have purchased has been received.
Our Funding Advisors will work closely with you to create a funding plan that will help jumpstart your business’s growth without maxing out your cash flow. Business owners averaging a minimum of $7,500 per month in sales over the last three months typically qualify for an MCA equal to 70-120% in funding, from as little as $3,000 up to $500,000. We offer both fixed and flexible repayment schedules, and there’s no fixed term.
Merchant cash advance rates
Merchant cash advances use factor rates instead of a traditional interest rate. Factor rates are simple decimal figures that show how much “extra” you will owe on the original amount of the loan. Your factor rate is determined based on a risk assessment. Most factor rates fall between 1.1 and 1.5.
Who Should Apply for a Merchant Cash Advance?
Merchant cash advances are ideal for:
- Businesses seeking fast funding—MCAs can be deposited in as little as 24 hours
- Businesses that process a lot of debit and credit card transactions
- B2C businesses that need smaller amounts of funding
- Businesses with lower credit scores
- Business owners that do not have collateral, such as real estate and other assets
Merchant cash advances can benefit restaurants, dental practices, attorneys, medical practices, gas stations, pharmacies, and more. No matter what industry you operate in, our expert Funding Advisors will work closely with you to select the best funding option to help you achieve your business’s goals without sacrificing cash flow.
How to Use a Merchant Cash Advance
There are no restrictions on how a merchant cash advance can be used. MCAs are typically best used to support growth strategies that will help increase your revenue, such as:
- Taking advantage of time sensitive opportunities to grow
- Expanding your marketing strategy
- Purchasing inventory or raw materials in bulk
- Upgrading equipment or technology
- Hiring new staff
- Investing in training and continuing education
Merchant Cash Advance Requirements
Traditional bank and SBA loans are typically only given to wealthy business owners with property and extremely strong credit scores. Angel Financial Solution has more flexible approval requirements that focus on the overall health of your business, not just your credit score. Your business must accept credit and debit card payments to qualify and no collateral is required.
Here are some factors we consider:
- Business revenue
- Cash flow
- Vendor payment history
- Years in business
- Public records
Merchant Cash Advance Q&A
Q. Can i get a merchant cash advance with bad credit?
Ans. Yes, you may be able to get a merchant cash advance with bad credit if your business has strong cash flow. Alternative lenders like Angel Financial Solution have lower credit score requirements, typically starting around 550. Merchant cash advances, invoice factoring, and other alternative small business funding are ideal options for businesses with low credit scores.
Q. Can i get a merchant cash advance with no bank statements?
Ans. Some alternative lenders may approve a merchant cash advance with no bank statements, but you can expect much higher rates. Angel Financial Solution requires three months of bank statements and other financial records.
Q. What types of business qualifies for an MCA?
Ans. Any business that accepts credit and debit card payments may benefit from a merchant cash advance, regardless of industry. Our team of knowledgeable Funding Advisors will work with you to assess your eligibility.
Business Hours
Angel Financial Solution: Loan Specialist are here to ensure a fast and timely process. Call us if you need help or have any questions.
Monday – Friday 9am to 8pm Est
WhatsApp: +855 90714767WhatsApp: +855 90714767
lizacolfer@gmail.com
www.angelfinancialsolution.com