Sometimes referred to as “credit card receivable funding” or “credit card factoring,” a Merchant Cash Advance (MCA) is the purchase of future credit and debit card receipts.
Your business sells a fixed dollar amount of its future credit and debit card sales at a discount. Once approved, you’ll receive a lump sum of the working capital as the purchase price. Then you’re all set to use this money for any business need. It’s not a loan–it’s a smart way for businesses like yours to get the funds you need.
The good news: No personal collateral is required. Qualification is primarily based on the strength of the business. And that means things like a business owner’s poor personal credit history is not an automatic disqualifier for an MCA from AdvanceMe. Compare that to other lenders and financing sources. Plus, we can get the money in your hands in as few as 5 days. With very little paperwork.