If you are looking for a way to get quick cash to fund your business, you may have considered a merchant cash advance as an easy choice. Also called a “cash advance for business”, this product is similar to a salary advance for consumers.
Online loans payday loans: Borrow today
Online loans payday loans available via ACFACashflow offers you a chance to get money today. This type of financing is usually available to companies that have a steady volume of credit card sales, including retail stores, restaurants, and doctor’s offices.
Documentation required during the application may include:
- proof of your identity (such as a state-issued ID)
- bank and credit card processing statements
- business tax returns
- Bank statements
- Knowing your credit score is smart too; The lender can perform a smooth credit check on the homeowner’s personal credit.
The amount you can get through an MCA ranges from a couple of thousand dollars to over $ 200,000. Keep in mind, however, that turnaround time is usually very short – 18 months or less in most cases.
To pay the money back, the lender will usually have a percentage of sales, usually on a daily basis.
Refunds will be withdrawn from your connected merchant account and will be calculated based on sales processed through sales of credit or debit card cash registers. Cash or check sales do not count towards the daily quota.
Regardless of the industry, you work for or the size of your company, you must prepare a team budget to be able to manage your finances effectively.
As a small business owner, it can be difficult to find the funds you need to buy your equipment without affecting your cash flow.
If this is your case, consider applying for a commercial loan from Mahoney Financial. Our commercial loan requirements are flexible and the funds can be used for a variety of purposes, such as equipment financing.
Our fast financing options have helped numerous small business owners, buy the equipment they needed to run their businesses successfully.
What is the first step to knowing if financing the purchase of your equipment with Mahoney Financial is the best option for you? Use our commercial loan calculator: it will allow you to quickly estimate what your loan cost will be and, above all, how much your monthly payments will be. So you can contrast these figures with your team budget and be prepared to make the decision will grow your company.
Need merchant cash advance? We are here to help you finance your business. Contact us now!