What is a Merchant Cash Advance?
A merchant cash advance (MCA) offers businesses immediate access to working capital based on anticipated credit card or other future receivables, enabling them to address their operational needs. This financing alternative provides businesses with an upfront lump sum in exchange for a segment of their forthcoming revenue receivables at a reduced rate. This ensures the repayment schedule aligns with the business’s sales rhythm.
To qualify for an MCA, specific requirements need to be fulfilled. Key factors include the business’s ability to process credit card transactions or possess other receivables.
With Cobalt, the MCA application process is streamlined and user-friendly. Submit your business application via our online platform in mere minutes. Our merchant cash advance offerings begin at $5,000 and can extend up to $250,000.
Does Merchant Cash Advance work for Your Small Business?
Payments are determined as a percentage of the company’s credit card transactions or other revenue receivables.
Payments are based on the business’ receivables so there is no fixed payment term.
The receivables are purchased at a discounted price; fees may be charged and deducted from the advance amount.
Businesses that process credit card transactions and are in urgent need of capital are the perfect fit. Beyond a more straightforward application procedure, cash advances are crafted to grant businesses easy and quick access to the vital working capital. The inherent flexibility of an MCA stems from its variable payments dependent on upcoming revenue receivables.
Should your Small Business experience substantial credit card sales, abundant receivables, or operate seasonally, then a merchant cash advance could be the perfect solution.
**The projected completion date is deduced from the anticipated duration required by the business to fulfill the receivables. This duration is influenced by the company’s performance. Typically, these projections span from 3 months to 18 months, but they remain approximations.
See How Quickly You Can Qualify For Merchant Cash Advance
To apply, your business merely requires three essential elements:
A Legitimate Form of Identification
Including: Account Number, Routing Number, 3 Months Statements
Business Bank Account Details
Including: Account Number, Routing Number, 3 Months Statements
Credit Card Processing Statments
From The Last 3 Months
Merchant Cash Advance FAQs
Merchant Cash Advance With Cobalt
At Cobalt, our goal is to unlock great potential for your growing business. Think of us as an addition to your team, driving your business’s growth with customized financing solutions that match your unique needs.
- Our advanced funding technology works seamlessly on mobiles, tablets, and desktop devices.
- Our team of honest business consultants provides quick, clear, and trustworthy funding advice.
- We have an effective approach for additional financing needs.
