A Merchant Cash Advance is a great alternative to traditional financing for small and medium size business. By purchasing a portion of your businesses future credit card sales at a discount, an MCA provides cash now for your future sales. The repayment is simple as we take a small portion of your future credit card sales as repayment.
Cash Flow Friendly: Because you pay a percentage of your credit sales, your repayment fluctuates with your own cash flow; If sales are lower you are repaying less!
Fast: Approvals are typically issued same day and accounts are typically funded in as fast as 24 hours.
High Approval: Unlike traditional financing personal credit score plays a small part in our underwriting model.
More Capital: In most instances you have access to more capital every 3-4 months
A merchant cash advance is a convenient and swift way to get your business the working capital it needs. By purchasing a future portion of your credit card sales, a merchant cash advance provider will provide your business with an upfront, lump sum of cash.
The process is designed to get you the funds your business needs with ease and speed in mind; a merchant cash advance is typically repaid in less than 12 months. With an agreed upon small percentage that works with the flow of your business, payback is just as simple.
Qualifying for a bank's business loan in today's economy has become very challenging and if you do not have excellent credit – virtually impossible. Other traditional sources of capital such as home equity loans and credit card loans are no longer options for many business owners. Therefore, a merchant cash advance is a smart alternative to traditional financing.
Upon submitting the documents, we will review the account and issue a conditional approval with various options. Once an option is selected, the agreement will be e-mailed or faxed to you. After the executed contracts are received, Cashbloom will perform final verifications and issue the final approval. Subsequently, one of our funding coordinators will set up the preferred payback platform for the merchant.