Merchant Cash Advance Direct Lenders – We work with trusted brokers and have access to a leading panel of lenders to meet your needs.
A business cash advance (MCA) is a type of loan that can provide your company with more cash. This loan should be used for daily expenses, expenses and growth opportunities. This type of financing is often available for businesses that need cash quickly but don’t qualify for a traditional loan or don’t want to take on additional debt.
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The loan will then be repaid in future debit and credit card sales, or in monthly installments over 3-12 months. Lenders will add fees to your payments, which increases costs among providers.
Direct Lender Installment Loans: A Convenient And Flexible Borrowing Option
A business cash advance is another type of business loan designed to provide working capital to both small and large businesses. This option is best for businesses that use regular card payments.
Any company that does frequent business can benefit from a merchant cash advance. These include retail stores, restaurants, salons, spas, gyms, dental clinics, cafes, water parks, travel agencies, supermarkets and petrol stations.
We are business brokers in the UK including London, Bristol, Birmingham, Leeds, Cambridge, Glasgow, Edinburgh, Nottingham, Manchester, Sheffield and Leicester.
The requirements for getting a merchant cash advance vary by lender. However, most lenders will consider similar factors to determine whether a business qualifies, including:
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Each application will be processed randomly, you can expedite processing by providing the following information:
Businesses often use merchant cash advances to obtain financing quickly:
The cost of a business cash advance in the UK varies depending on the lender and the terms of the advance, but is generally more expensive than a traditional loan.
You should also keep in mind that merchant cash advances may incur other fees:
What Is A Merchant Cash Advance?
The cost of a merchant cash advance is typically determined by a factor rate applied to the amount of the advance. For example, if a lender offers a down payment of $50,000 and a factor ratio of 1.3, the total amount owed is $65,000 (50,000 x 1.3).
Yes, it is possible, but it depends on the lender and their process. Most lenders that offer merchant cash advances can provide fast financing, with funds available within 24 hours or the same day of application.
To increase your chances of receiving funding on the day, be sure to have all required documentation ready when you apply.
Sometimes. Not every lender requires a credit check before issuing a merchant cash advance. This is because many lenders want to focus on the current state of your business and how they expect it to perform. Lenders who prioritize your business’s current financial health over your credit history typically don’t require a credit check.
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Businesses that accept credit card payments or have other forms of regular income are eligible for merchant cash advances if they are deemed safe.
Merchant cash advance interest rates are generally determined by factor rates rather than interest rates. This decimal is multiplied by the amount received to determine the total payout, ranging from 1.0 to 1.5. Factor rates are determined based on several factors, including a business’s credit card sales history, down payment amount, and payment terms.
Yes, we work with a variety of direct lenders across the UK who are all licensed and experienced in handling business cash advances. All lenders are accustomed to providing funds within 24 hours.
Our service is completely free and we do not share your access with other companies or providers. There are no fees and using our services will not affect your credit score.
What Is A Merchant Cash Advance?
If you fail to make timely payments or your business’s cash flow suddenly drops, you may face additional fees, penalties, and a negative impact on your credit score.
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Small business financing can be difficult, especially for owners with poor personal credit history or limited business credit history. Traditional banks are often reluctant to provide financing to borrowers considered risky. This is where business cash advance (MCA) loans and alternative business lenders can provide significant financial assistance.
GreenDayOnline: Offers a fast approval process, perfect for small businesses looking for a quick financing solution. PaydayChampion: Specializes in cash advances for bad credit merchants, offering online application and same-day approval. RixLoans: Offers unsecured cash advances, credit checks, and same-day financing, making it a great option for emergency financial needs. PaydayDaze: Quickly approve merchant cash advances, providing services for small businesses in need of quick financing. GadCapital: The ideal online application that provides businesses seeking cost-effective financing with quick access to low-interest merchants.
Top 10 Merchant Cash Advance Services 2015
This comprehensive guide reviews the best business cash advance companies and direct loan sites for bad loan situations for small business owners. We cover basic information about how MCA loans work, costs, requirements, and more. For homeowners who need quick business funding but have trouble qualifying through traditional means, business cash advances and alternative online lenders are options worth exploring.
A merchant cash advance provides a business with one-time capital in exchange for interest on future credit card sales. Technically, this is not a loan but a cash advance purchase agreement.
With an MCA, businesses don’t have to make monthly payments like a term loan. Instead, credit companies get returns up front through kickbacks from processors on daily or weekly credit card sales.
The fee is a fixed percentage of your daily or weekly credit card balance. There is no payment schedule. The flexibility of paying as a percentage of sales rather than principal makes MCA attractive to businesses with variable or seasonal cash flows.
Merchant Cash Advance Vs Business Loan: Comparing The Key Difference
A merchant cash advance involves three key parties: the merchant, the MCA provider, and the credit card processor. Here’s how the fund works:
MCA for commercial providers. The application asks for basic business and owner information, bank statements, credit card sales history and processing volume. If approved, MCA would purchase the company’s rights to a percentage of the business’s future credit card sales. Transactions are typically issued within a few business days. Credit card issuers must reimburse the MCA provider a percentage of daily or weekly sales before making an advance payment. There is no payment schedule. Business credit card sale interest is repaid before MCA receives the total down payment and fees. This system allows for revenue based on sales. After a refund is issued, the credit card processor will resume normal processing and 100% of the sale will be returned to the merchant.
Estimated payment times and total charges depend on credit card sales volume. More processing means faster returns.
Fast Financing – MCA funding is accepted quickly, which means flexible repayments based on card sales within days of approval and established current cash flow. Easier to qualify than traditional financing – MCA does not consider personal loan financing to be a barrier to business activity.
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Expensive – MCAs cost more compared to traditional loans Daily payments can significantly reduce business cash – Early repayments are difficult – Refinance or pay early If sales are low, suppliers can collect via business or personal guarantees.
Although it is easy to obtain, businesspeople should consider the benefits and costs before obtaining an MCA. They are the best form of financing to meet short-term needs or cover cash flow gaps.
Technically not a loan – there are no monthly payments structured into a pre-purchase agreement – payments vary based on a percentage of credit card sales, factor rates, or fees expressed as purchase rates, AP interest, expedited approval and financing – using business metrics. Suitable for any application, no decision limitations
Traditional bank loans require good personal credit and financial history, and traditional bank loans also require monthly repayments over a period of time. Costs are low and interest rates are in the single digits.
Benefits Of Using A Merchant
For many small businesses, MCA’s quick financing and flexible structure outweigh its higher costs compared to traditional financing. Qualifications are simpler and overdue loans are more convenient
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