Looking to expand and need an alternative line of credit for your business?
A business can apply for and receive funds from a merchant cash advance company within a few days, versus a bank loan, which can take a few months. The application process for a merchant cash advance is significantly easier than it is for a bank loan. A merchant cash advance company will look for sources that show a business’s cash flow by examining the monthly sales and balances through statements. A bank loan would rely more on credit history and hard collateral.
Here’s an Illustration of How it Works:
The oven breaks down in Joe’s pizzeria causing the business to come to a complete stop. A traditional bank loan could take 60 to 90 days IF the pizzeria gets approval from the bank. The business simply cannot afford this. It will go out of business, a catastrophic loss.
Apply
Joe reaches out to SCA Funding for an immediate source of funds.
Instant Review
SCA Funding analyzes a handful of financial information from Joe’s Pizza as well as information on Joe himself and determines that they can advance the $25,000 Joe needs to purchase the oven from his wholesaler.
Using our proprietary modeling, SCA Funding will analyze your business and determine if we can help your business flourish. By using our process we will quickly identify if there is a mutual opportunity. In some cases there is no need for collateral, even if you have bad credit.
Approved Financing
SCA Funding will advance Joe’s Pizza the $25,000 request at a factor rate of 1.25x, meaning that the final purchased amount Joe’s Pizza will pay will be $31,250.
The $25,000 is transferred to Joe’s Pizzas’ bank account which Joe uses to immediately purchase the oven he needs. SCA Funding and Joe agree to hold back amount of Joe’s pizzas daily sales that will go back to the MCA every day until the entire $31,250 is repaid.
The merchant cash advance process is very straightforward and can be the perfect financing alternative to a small business loan for many reasons. With an MCA you are getting a cash advance on your business’s future receivables. Within 24 hours of your application submission one of our funding specialists will contact you with options. Our approval process is simple, quick and hassle-free. We can have a cash infusion in your bank account within 3-5 business days.