Online Cash Advance For Working Capital Or Business Funding

Progressive Business Capital - - Online Cash Advance For Working Capital Or Business Funding

Everything You Need To Know

An online cash advance for business funding is a great option if you need working capital to help grow your business or continue operating during a slow period such as the current events of COVID-19.

You may know how to get a personal cash advance, but did you know that you can get an online merchant cash advance for your business, too?  Learn more about this funding option below.


What Is An Online Cash Advance For Business?

An online cash advance for business is also called a Merchant Cash Advance, which is typically shortened to MCA. This is not a loan at all. Instead, a MCA lending will advance you a lump sum for a percentage or “holdback” of your future sales.

You may get $20,000, for example, and have a holdback rate of 10%, meaning 10% of your future sales will be sent to the Merchant Cash Advance lender to repay the advance. The repayment continues as customers buy your products or services until the cash advance is repaid.

online cash advance specialist – The Online Cash Advance specialist for small business funding.

Do I Qualify For A Merchant Cash Advance?

It’s typically pretty easy to qualify for a merchant cash advance. Most companies will require you to only prove two things:

  • Length of time in business – Your business must have been open and operating for at least 6 months to qualify for an MCA, in most cases.
  • Gross monthly sales – You may need to meet a certain threshold of monthly sales, such as $5,000/month, to qualify for an MCA. This may vary depending on the MCA provider you choose.

You can use documents like business bank statements to prove your income and the length of time you’ve been in business, so it’s easy to qualify.

Why Choose A Merchant Cash Advance Instead Of A Small Business Loan?

Wondering what the benefits are of taking out a merchant cash advance compared to a traditional bank loan? Here are a few reasons you may want to get an online cash advance for business funding.

  • No credit check – Typically, your credit score doesn’t matter when you take out an MCA, so you can get the cash you need even if you have bad credit or no credit.
  • No collateral – MCAs don’t require you to put up any personal or business collateral since they’re not loans.
  • Faster approval – You can typically be approved and funded in 24 to 48 hours. In contrast, a bank loan could take days or even weeks just to be approved.

Apply For An Online Cash Advance For Business Funding Today!

It’s never been easier to apply for an online cash advance for business funding. With a merchant cash advance, you can get the money you need for your business within 24 to 48 hours of applying. So get started today, and work with a reputable MCA provider such Progressive Business Capital, contact us today to get access to the working capital your company needs to succeed.

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