- The most accessible funding option on the market
- Quick pay-back structure
- Funds deposited in hours
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Merchant Cash Advance (MCA) is an easy and quick way in which small and midsize business owners that lack collateral or have a low credit score to qualify for a conventional bank loan can obtain an upfront sum of cash. The borrower will then repay with a percentage of future credit and debit card sales processed through the business’ merchant account.
In reality, an MCA is not a business loan–it is a lump-sum of money provided by the lender in exchange for a percentage of the business’ future revenues.
A Cash Advance is an excellent alternative for any business owner with a low credit score (FICO) because it is a short-term loan that requires no collateral. Also, if you need working capital instantly, the approval process is faster than any other loan.
As a business owner, I’m sure you recognize the importance of having money available in case it is needed. If you have to make urgent reparations or buy new equipment that will make your job easier and increase your revenue, then you’re going to need some capital to cover those expenses. If you have the money, excellent, but, what if you don’t?
The first thing that comes to mind would be getting a loan from the bank. However, banks are denying loans to business owners in record numbers, leaving them frustrated and with no options.
Securing financing for your company should not be hard, especially if you are facing problems that could threaten your business.
Luckily, alternative lending institutions like Purcell Capital have loan programs made for business owners that could use some extra funds to enhance the performance of their business.
While a cash advance is not technically a loan, an MCA is perhaps the quickest and easiest way to obtain working capital for your business.
When you get a cash advance, the lender will give you a lump sum of cash in exchange for a percentage of your future debit or credit card sales. Then, the loan can be repaid by automatically debiting the agreed amount daily or weekly from your business’ merchant account.
Before the MCA lender transfers the funds into your account, he or she will provide a detailed loan agreement form showing the advance amount, the amount you are expected to pay back, and the loan term.
Opposed to fixed payments loans, in a cash advance the agreed amount is automatically deducted from the daily sales generated on your merchant account until the advance is paid off.
Once you submit the application form, we will determine if you qualify for the program and how much capital you can get. If your application is approved, we will transfer the funds to your bank account. You can Apply for a Merchant Cash Advance Online or do it in our Office in Idaho.
Unlike a bank loan, the advance’s payback amount is calculated using a factor rate rather than the typical interest rate. Factor rates generally range between 1.20 to 1.35.
The repayment starts as soon as we transfer the funds into your account. We will also adjust the payback amount according to the monthly revenue of your business..
Who can Benefit from Purcell Capital’s Merchant Advance Loans?
Purcell Capital serves almost all small and medium businesses looking to secure a merchant advance to support various business processes. Some of the companies that would benefit from Purcell Capital’s merchant advance loans include:
Pros
Cons
A conventional bank loan places your business at risk of losing the collateral or even hurting your credit score if you default or repay the loan late. Unlike the bank loan, an MCA will not affect your credit score since it is a sales transaction. Collateral is not even required to secure the advance.
Unlike most lenders, Purcell Capital works with a dedicated team of advisors who offer a free consultation to clients. You can take advantage of these free services to make sound financial decisions.
Purcell Capital collaborates with credit unions, mortgage lenders, and many more financial institutions. Besides working with financial institutions, we are always in constant search for technological solutions to facilitate easy and fast application.
Purcell Capital is dedicated to meet, if not exceed, our customer’s expectations.
We are headquartered in Idaho, but we also serve clients from all States.
Unlike traditional lenders who fund only established companies with attractive credit history, Purcell Capital offers loans to any business as long as it has been running for at least 12 months and is making $30,000 in monthly sales. Furthermore, any business can qualify regardless of its FICO score.
We believe that every entrepreneur deserves the opportunity to excel. For this reason, veterans, Latinos, and women in business are highly encouraged to apply for a merchant advance.
Another reason why you would want to get your loan from us is that you can qualify for as much as $5,000,000 as long as your business makes reasonable credit card sales per month.
Take a look at this useful guide Merchant Cash Advance: An Alternative Solution to Business Loans or simply call our office a loan consultant will be glad to help you.
Unlike a bank loan, the advance’s payback amount is calculated using a factor rate rather than the typical interest rate. Factor rates generally range between 1.20 to 1.35.
The repayment starts as soon as we transfer the funds into your account. We will also adjust the payback amount according to the monthly revenue of your business..
Who can Benefit from Purcell Capital’s Merchant Advance Loans?
Purcell Capital serves almost all small and medium businesses looking to secure a merchant advance to support various business processes. Some of the companies that would benefit from Purcell Capital’s merchant advance loans include:
Pros
Cons
A conventional bank loan places your business at risk of losing the collateral or even hurting your credit score if you default or repay the loan late. Unlike the bank loan, an MCA will not affect your credit score since it is a sales transaction. Collateral is not even required to secure the advance.
Unlike most lenders, Purcell Capital works with a dedicated team of advisors who offer a free consultation to clients. You can take advantage of these free services to make sound financial decisions.
Purcell Capital collaborates with credit unions, mortgage lenders, and many more financial institutions. Besides working with financial institutions, we are always in constant search for technological solutions to facilitate easy and fast application.
Purcell Capital is dedicated to meet, if not exceed, our customer’s expectations.
We are headquartered in Idaho, but we also serve clients from all States.
Unlike traditional lenders who fund only established companies with attractive credit history, Purcell Capital offers loans to any business as long as it has been running for at least 12 months and is making $30,000 in monthly sales. Furthermore, any business can qualify regardless of its FICO score.
We believe that every entrepreneur deserves the opportunity to excel. For this reason, veterans, Latinos, and women in business are highly encouraged to apply for a merchant advance.
Another reason why you would want to get your loan from us is that you can qualify for as much as $5,000,000 as long as your business makes reasonable credit card sales per month.
Take a look at this useful guide Merchant Cash Advance: An Alternative Solution to Business Loans or simply call our office a loan consultant will be glad to help you.