Loan Requirements

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How it works: Lump Sum Funding: You receive a cash advance from a merchant cash advance provider. Not a Loan: Unlike a traditional loan, an MCA is structured as the purchase of future sales, not a loan agreement. Repayment: You repay the advance, plus fees, from a percentage of your credit card sales or other revenue. Factor Rate: Instead of interest, MCAs charge a "factor rate," which is a percentage of the total amount advanced that you'll repay. Example: If you get a $10,000 MCA with a factor of 1.3, you'll repay $13,000. Application Process: Business Information: You'll need to provide basic information about your business, including bank statements and merchant account statements. Credit Check: While some MCAs are available to businesses with less-than-perfect credit, lenders will still assess your business's financial health.