Frequently Asked Questions
What is a Merchant Cash Advance (MCA)? A Merchant Cash Advance (MCA) is a lump sum of capital provided to a business in exchange for a percentage of its future credit and debit card sales. It's an alternative to traditional loans, offering quick access to funds based on your business's revenue, rather than collateral or perfect credit.
Who is a Merchant Cash Advance suitable for? MCAs are ideal for small to medium-sized businesses that process a significant volume of credit and debit card sales. This includes restaurants, retail stores, salons, auto repair shops, and many other businesses looking for fast, flexible funding without the stringent requirements of traditional bank loans. If your business needs quick working capital for inventory, equipment, expansion, or managing cash flow, an MCA from Express Capital Associates could be a great fit.
How does a Merchant Cash Advance work with Express Capital Associates? At Express Capital Associates, we make it simple. Once approved, you receive a lump sum of capital. Repayment is typically made through small, automatic deductions from your daily or weekly credit card sales until the advance is repaid. This flexible repayment structure adjusts with your sales volume, meaning you pay back less on slower days and more on busier days, easing the burden on your cash flow.
What are the requirements to qualify for an MCA from Express Capital Associates? While requirements can vary, generally, we look for businesses that have been operating for at least a few months (typically 3-6 months or more), have consistent monthly credit card sales (usually $5,000 or more), and a stable payment processing history. We understand that every business is unique, and we strive to be flexible.
How quickly can I receive funds from Express Capital Associates? One of the biggest advantages of an MCA through Express Capital Associates is speed. Our application process is streamlined, and once approved, funds can often be disbursed to your business bank account within 24 to 72 hours. We understand that when you need capital, you need it fast.
What are the main benefits of a Merchant Cash Advance? Key benefits include rapid funding, minimal paperwork compared to traditional loans, flexible repayment tied to your sales volume, no collateral required, and the ability to qualify even with less-than-perfect credit. It's designed to provide businesses with the immediate capital they need to seize opportunities or overcome challenges.
Are there any specific terms or fees I should be aware of? With an MCA, instead of an interest rate, there's a "factor rate" applied to the advance amount. This is a fixed cost you know upfront. Our team at Express Capital Associates is fully transparent and will clearly explain all terms, conditions, and the total repayment amount before you commit, ensuring you have a complete understanding.
How do I apply for a Merchant Cash Advance with Express Capital Associates? Applying is easy! Simply fill out the form, reach out to us by phone or through our website. Our dedicated funding specialists will guide you through the quick application process, which typically involves providing basic business information and recent bank or merchant statements. We're here to help you every step of the way.
What makes Express Capital Associates different from other funding providers? Express Capital Associates stands out due to our commitment to speed, transparency, and personalized service. We specialize in understanding the unique needs of small businesses and provide tailored funding solutions. Our experienced team works diligently to get you the capital you need quickly, with clear terms and a focus on your business's success. We believe in building long-term partnerships, not just processing transactions.Are your rates more expensive than others? Because we have access to a large number of lenders and funding options, we are typically less expensive than other companies.What kind of qualifications do I need for approval? We understand that every business is unique and therefore do not require a standard set of qualifications. We recommend applying or contacting us so we can learn more about your individual needs.
How long does it take to get funds?
Once approved, we can deposit funds into your bank account as quickly as one business day. In some cases, it can take a few days before you can access funds.
Does my credit score matter?While your credit score is important, it's not the only factor we consider. We are generally much more lenient than other lending firms in terms of acceptable credit scores.
