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As compared to traditional bank loans, Merchant Cash Advance Loans is an easy and quick way to get funding for your small business. Moreover, a fast approval process with no collateral requirement that will better suit most small businesses – even you don’t need to have perfect credit. Because of its quick application and approval process and easy credit requirements, MCA is a convenient funding program for small business owners for growing their business and sustaining cash flow temporarily.

How Smansha can help you get the Best MCA Rate?

Merchant Cash Advances often comes with a factor rate instead of an interest rate that usually ranges between 1.14 & 1.48. Smansha will help you match your business with different MCA options. Our innovative lending platform will help you compare the interest rates, terms & payments to choose the best one for your financial need.

Smansha will help you match your business with a wide range of Merchant Cash Advance lenders. Our innovative lending platform will help you compare interest rates, terms, and payments for a variety of MCA loan options, so you can choose the one that fits your needs and budget.

How it Work?

1

Sign Upon our secure & innovative lending platform to get started for a safe & worry-free funding.

2

Compare MCA Offers from our parterns of 40+ MCA lenders for the right funding you need.

3

Receive Your Fundswithin 24-48 business hours after approval.

4

Make Paymentsautomatically from your business account.

Loan Amount

$5,000-200,000

Loan Term

Up to 2 years

Factor Rate

1.14 – 1.48

Security

Unsecured

Funding Time

As fast as 48 hours

Why you should consider MCA for your small business?

As compared to traditional bank loans, MCA is an easy & quick way to get funding. A fast approval process with no collateral requirement will better suit most small businesses. You don't even need a perfect credit score. Besides, payments with an MCA are much more flexible as it depends on your credit card sales.

Ready to know more about Merchant Cash Advance?

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FAQs

Technically, Merchant Cash Advance is not a loan; it’s an advance payment against your business’ future income. With Merchant Cash Advance, the lender provides a lump sum advance, which is then repaid automatically using a percentage of your daily credit card or debit card receipts, along with an additional fee. The lenders generally look at your credit card processing statements to examine if you can repay the borrowed amount through your day-to-day sales from the credit card.

With a Merchant Cash Advance, an advance lump sum amount is given to the borrower which is based on their business’ financial health. The borrower agrees to pay the lender with a percentage of his/her daily credit card sales. This amount is calculated based on the amount funded plus fees called a factor.

Whether you’re looking to purchase new inventory or expand business operations, needing temporary cash flow help, dealing with seasonal issues, meeting payroll expenses, paying the debt, opening a new location, or advertising, a Merchant Cash Advance can be used for a variety of business purposes.

Merchant Cash Advances often come with factor rates instead of interest rates which usually range from 1.14 to 1.48. A factor rate is a percentage that shows how much extra you owe on a loan. Unlike an interest rate, the factor rate is expressed in decimal figures. Besides that, MCAs often include processing fees, set-up fees, and even payment fees that can as much as double the actual cost of the loan. You pay only when you draw funds, and regular interval of time, you simply put back part of the amount you drew, plus a flat fee.

While there is no silver-bullet answer for getting qualified for an MCA, here are some general minimum requirements:
• Have been in the business for at least 1 year. Some lenders may go as less as 6 months minimum.
• Must have a minimum credit score of 500
• $50,000+ in annual revenue for your business
• Must have healthy, consistent cash flow

Following are some of the common required documents:
• Business ID
• Credit Card Processing Statements
• Bank Statements
• Voided Business Check
• Business Tax Returns
• Driver's License

As this loan is repaid based on your business’ daily sales, a Merchant Cash Advance might be one of the best financing options for a start-up that may not qualify for other types of business loans. If your new business has great daily sales, you could think of applying for a Merchant Cash Advance for your fast-capital needs.
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