About Merchant Cash Advance
A merchant cash advance (MCA) is a form of financing that allows a company to sell a portion of its future sales in exchange for an immediate payment. This financing provides your company with funds to pay operational expenses and to grow. There are a few ways to repay the financing line, depending on your type of business.
Initially, merchant cash advances were used solely to finance future credit card sales. Therefore, most clients were retailers and restaurants. The product has evolved to the point where cash advance companies can finance any future sales, regardless of how they are paid for.
Apply Now
Features and Benefits of Loan
With a merchant cash advance, you borrow against your future earnings to secure the financing you need. Once you’ve been approved and the funds are advanced to your account, you’ll begin repaying the loan by having an agreed upon percentage of your daily credit card deposits withheld for the lender.
Speed
Most cash advances can be obtained quickly, in just days. Also, qualifying for a merchant cash advance is much easier than qualifying for a business loan. These can make an MCA an attractive solution if your company has an urgent need for funding.
Determining the funding amount
The amount of funding is determined by a combination of your sales and the perceived risk of your account. Most cash advance companies advance anywhere from 80% to 150% of your average monthly revenues based on these parameters.
The amount you must repay is determined by multiplying your financed amount by a “return factor.” The return factor can range from 1.09 to 1.50. For example, a $100,000 transaction with a payback factor of 1.09 would require repayment of $109,000 over a period of time. Usually, the payback period ranges from 3 months to 15 months.
The actual funding part of the transaction is relatively simple. The funds are deposited to your account once the financing is approved.
Enjoy the best rates
loan rates are very fair and attractive,As low as 2-5%
Manage cash flow
MCA business loans can give your company financial stability in the face of unexpected costs and late payments.
Eligibility Criteria for Loan
Any self-employed or professional Public and Privat companies, Government sector employees, Private sector employees is eligible for an MCA loan.
Age
Maximum age of applicant : 65 years
Income
Minimum Net Monthly Income: $ 40,000
Credit Rating
Applicant should have the specified credit score of 300 or higher
Check Eligibility
Apply For Loan
Documentation
The following documents are required along with your unsecured business Loan application:
-
Personal Identity proof (copy of passport/driving license)
-
Home Address proof (Utility Bills)
-
Proof of flow of funds(Business Bank statement of previous 3 months)
-
Business information such as company number, name and registered or trading address
Fees and charges
Applying is free and it won't impact your credit.
Below are fees and charges that you may be required to pay:
-
Types of fees
Charges applicable
-
Interest rate
Up to 2% -4%
-
-
Loan statement charges
NA
-
Interest & principle statement charges
NA
-
EMI bounce charges
$100 for every bounce
-
Security Interest Fee
Contact our loan specialist:
Call us at
662-254-4495
support@aclloans.com
Contact us
*Service Tax and other Government taxes, levies etc. applicable as per prevailing rate will be charged over and above the Fees and Charges
Apply For Loan
Frequently Asked Questions
We are almost ready with your Frequently Asked Questions. Already we answered all question please check below.
Anytime Cash loan llc(ACL) is the provider of business and personal financing in the USA, UK, CANADA, mainland Europe and Australia. We use a simple online application to determine the financial health of your business and let you know how much finance you can access. This allows us to approve unsecured loans to qualifying firms. ACL lends from its own balance-sheet.
ACL uses unique credit technology to form a deep understanding of the financial condition of a business and lends from its own balance-sheet. This approach enables us to make quick, sound decisions.
We provide our customers and partners with a quality service because:
-
We listen to our customers' stories and understand their challenges.
-
We are real people who take the time to build relationships.
-
We have a wealth of financial knowledge and experience within our team.
Most merchant cash advance companies consider their transactions to be a purchase of future sales rather than a loan. To determine how much funding to provide, finance companies review your credit card sales, commercial sales, banks statements, and other information. These reports provide them with sales performance information, which gives them an idea of your future sales potential.
To apply for an MCA loan, you must generally be based in the USA ,CANADA or AUSTRALIA and run an established and profitable business. At ACL we require a business to be operational for at least two years and with a minimum turnover of $300k..
With a merchant cash advance, you borrow against your future earnings to secure the financing you need. Once you’ve been approved and the funds are advanced to your account, you’ll begin repaying the loan by having an agreed upon percentage of your daily credit card deposits withheld for the lender. Your advance can be used for myriad purposes, so this type of financing has earned a reputation among entrepreneurs for being very flexible.
No, you are not charged any extra fees when you repay early. We don’t penalise you for early settlement.
ACL abides by the Data Protection Act 2018 (‘Data Protection Act’) and all other relevant USA and European data protection and privacy laws.
All data electronically transferred between you and ACL is encrypted, using one of the strongest forms of encryption available commercially. We are committed to keeping your data safe.
Download loan forms now
Fulfil your dreams to lead the life you want, the way you want with our merchant cash advance loan! Download loan forms now!
Download Loan Brochure
Get A Quote
Get quote easily just fill the below form and our one agent will contact you in 24 hours.
