A merchant cash advance is an unsecured loan. Small business loans for bad credit or no credit. MCA's are fast business loans that can fund in as little as 48 hours. Merchant cash advances are technically not an loan. With an MCA, a financing company advances you cash in exchange for a percentage of your daily credit card and debit card sales, plus a fee. Merchant cash advances can be quick, easy ways to get a business cash advance with no need for collateral—even if you don’t have a great credit score.
MCA providers evaluate risk and weigh credit criteria differently than a banker or other lenders. They base the underwriting on future receivables. They also look at daily credit receipts to determine if a business can pay back the advance in a timely fashion. As a result, rates on MCA may be higher than other financing options so its good to understand the terms your’re being offered so you can make an informed decision.
*additional items may be required*