How to Get a Merchant Cash Advance
A merchant cash advance is a great way to get quick cash for your business. A merchant cash advance is, essentially, an advance on your future sales.
In exchange for a lump sum – say, $25,000 – Merchant Cash Group will buy the rights to a certain percentage of your future sales. Then, as you continue to sell products or services to your customers, this percentage will be paid directly to Merchant Cash Group until the business cash advance is repaid in full.
Because merchant cash advances (MCAs) are easy to qualify for, have flexible repayments, and do not require a credit check, they’re an ideal choice for any business owner with strong cash flow, but a somewhat spotty financial history.
Interested? Here’s a quick guide about how you can get a merchant advance in less than 48 hours from Merchant Cash Group.
Learn the pros & cons of choosing a merchant cash advance company here.
Step 1. Start Your Online Inquiry
Go to merchantcashgroup.com and complete the quick quote which literally takes about 10 seconds. This will allow us to get basic information about you, your business, and the amount of cash you’re interested in borrowing. Just enter your business name and contact information, and one of our funding experts will contact you within minutes.
Step 2. Submit your Business Bank Statements
Merchant Cash Group has only 2 requirements to be approved for a merchant cash advance.
- Your business must generate at least $5,000 in sales per month on average.
- Your business must be open and operational for at least 6 months.
If you meet those two criteria, there are 3 documents you should have ready to submit.
- Three months of your business bank account statements
- Copy of your Driver’s License
- Voided Check for your business bank account
There is no credit check or collateral required – as long as you meet our minimum requirements, we can fund you within 48 hours or in some cases the same day. It’s really that fast!
Step 3. Get Approved and Review Your Funding Offer
Once you’ve completed the online application and submitted your bank statements (all of which takes approximately 5 minutes), underwriting will review your file and issue the offer. The total advance amount is primarily based on your monthly sales volume – so the more money your business generates, the higher the offer.
One of our funding experts will contact you with the offer as soon as it’s issued. Then, you can move on to the final step and get funded quickly. Our dedicated staff is there to guide you through the entire process and answer any questions you have along the way. We want you to feel supported and secure throughout the process.
Step 4. Accept Your Merchant Cash Advance and Get Funded
Once you’ve reviewed and accepted the offer, our funding specialist will email you a link to complete the contract via DocuSign. The secure online contract takes minutes to complete.
Finally, a member of our underwriting team will call you to confirm all of the details of your merchant cash advance and answer any additional questions you may have before the funding is sent. Once that final step is complete, the funding is sent to your business bank account. The entire process typically takes less than 48 hours but can be completed in 1 day.
There you have it! 4 Simple Steps to get the Cash you need to Succeed
At Merchant Cash Group, it is our mission to help small businesses obtain the funding they need to achieve their goals. From $1,000 to $250,000, we deliver affordable, convenient merchant cash advances for businesses that want to meet and exceed their goals. There’s no reason to wait. Get started now!
Learn how to grow your small business here.