How to Expand Your Business with Merchant Cash Advance (MCA) Benefits

Cash flow issues are a concern for most small and mid-sized business owners. In fact, many SMBs find it difficult to manage growth because of concerns about funds.

Having access to the right funding makes it easier to support business growth. There are many different choices out there, but a merchant cash advance might be one you want to consider.

Not convinced an MCA is the right choice for your business? Take a look at these MCA benefits and discover how MCAs could help you grow.

Lightning-Fast Access to Funds with a Merchant Cash Advance

One of the biggest benefits of an MCA is how fast you can access the funds you need to grow your business. Whether you need to cover a bill or you want to put a new marketing strategy in place, an MCA helps you do it sooner.

Traditional loans can take months to arrive in your bank account. That’s after all the work of preparing your application and waiting for approval too.

With an MCA, you could have the funds in your account in a matter of hours.

Think about the Future, Not Your Past

 Most traditional forms of business funding rely on your financial history. Lenders will look at your credit score. If you’ve missed a payment or two, you might not qualify for a loan.

An MCA is more forward-thinking. Instead of checking your credit score, the lender estimates future credit and debit sales.

The lender then offers you a lump sum based on where you’re going, not where you’ve been. If your credit score is less than stellar, an MCA could be the right choice to help your business grow.

You also don’t need to provide personal guarantees like you would with a loan.

MCA Benefits Include More Flexibility

Flexibility is another reason to consider merchant cash advances for your expanding business.

A traditional loan offers you a one-time, lump-sum payment. You’ll then pay the amount back with monthly scheduled payments.

Merchant cash advances are different. Instead of paying the same fee every month, the MCA is repaid by a percentage of your credit and debit sales.

If your sales dip one month, so too will your payment to the MCA. If you have higher than expected sales, your payment will increase too. This can help you pay back the MCA faster.

This flexibility makes it much easier for a growing business to manage repayment. With merchant cash advances, you can stop worrying about making your loan payment.

Use Funds as You See Fit

With a traditional bank loan, you may have to tell the lender what you’ll use the funds for. Loan approval is then tied to buying equipment or investing in real estate.

What if your needs change from month to month? Market conditions change quickly, and businesses like yours need to stay one step ahead.

With a merchant cash advance, you’re in control of how the funds are spent. If you need to pay bills today and invest in a new website tomorrow, an MCA can make it happen.

 Ready, Set, Grow

If you’ve been wondering how to fund your business’s growth, consider a merchant cash advance. The easy application process means you could have the funds you need in short order.

If you’re not sure an MCA is right for your business, get in touch with us. We can help you discover the right alternative lending solution for your business.