Merchant Cash Advance

Merchant Cash Advance Services by Sheer Funding
type of service

Merchant Cash Advance

A merchant cash advance is not technically a 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.

MCA DETAILS

  • Quick and Easy application process
  • Terms ranging between 3 – 12 months
  • Buy Rates between 1.12 and 1.45
  • Funding up to $250,000
  • Daily or Weekly payment
  • No Pre-Payment Penalties
  • Decisions within 1-3 hours

Qualifiying criteria

  • 6 + Months time in Business
  • 500 + Credit Score
  • $150,000 + in annual revenue
  • Most Industries

Required Documentation

  • Completed Application Form (Download Pdf)
  • Copy of Bank Statements
  • Copy of Valid ID
  • Copy of Voided Check
*additional items may be required*