Merchant Cash Advance
Advance Your Business Rapidly
Rather than letting market fluctuations decide your enterprise’s success, you could proactively take out a Merchant Cash Advance (MCA) with us at Tribal Wealth Funding. This way, you’re sure to stay ahead of any cash flow problems caused by a dip in general consumer confidence.
A Business Cash Advance offers you money in advance against the prospect of future sales. This principle works exactly like a paycheck cash advance but is geared towards businesses with a steady flow of proven credit card sales.
This kind of advance is especially beneficial if you recently got turned down for a conventional loan, as the credit check requirements are minimal. Many businesses can apply for a Merchant Cash Advance, including retail stores, restaurants, and medical offices.
What Are The Benefits of Merchant Cash Advance Financing?
Here are the basics of this popular type of small business financing. An advance can benefit your business by offering you the money you need for crucial advertising, inventory, rental space, and even new staff. It’s quick money paired with an easy payback method, minimal paperwork, no unnecessary or unclear fees, and no fixed payments. These loans are unsecured, which means none of your existing assets or collateral are directly tied up in this loan. For businesses with limited assets, this can be a major perk.
MCAs have a very flexible nature. You’re allowed to use the funds where most needed, and there are many payment options. The most common repayment plan bases itself on a percentage of sales, which will be taken daily from your connected merchant account. This plan has the added benefit that when sales are low, you don’t have to repay as much, which is especially helpful to businesses that depend on seasonal sales. Mind you, though, only sales to customers paying with standard credit cards, such as Discover, Visa, and American Express, are considered. Cash or check sales don’t count towards your payment quota.
How to Apply?
Applying for a Merchant Cash Advance is a fairly straightforward process. All Tribal Wealth Funding needs is a valid ID, your company’s bank and credit card processing statements, and your business tax returns. If you’re approved, you can receive a lump-sum payment ranging from a few thousand dollars to over $200,000 within a few business days.
To us, the primary focus lies on your sales history and not your business credit history. We look where it matters and focus on your business’s future potential based on past sales. If you can demonstrate that you have a certain volume in credit or debit card sales over the past year, you likely have what it takes to land an MCA. However, it is a good idea to keep tabs on your personal credit score, as we might run a soft credit check on your credit.
To better grow your business, apply for a merchant cash advance from Tribal Wealth Funding. Kindly contact us today and talk to a financial advisor to find out everything about your options.