First of all, a merchant cash advance is not a business loan. With an MCA you still get a lump sum cash advance but, rather than a fixed dollar amount, you remit via a percentage of your future daily sales. Here at Turquoise Financing, we work to make sure you get the right-sized funding for your business so you can focus on growing, not just owing. You can apply online for fast business cash advances.
A merchant cash advance is structured so that you fulfill your business advance by agreeing to remit a fixed percentage of your daily sales until the advance is remitted in full. Essentially, we’re buying a fixed percentage of your future credit card receivables from you and just giving you the money (minus rates) ahead of time. MCAs might be a better fit if your sales tend to fluctuate or your business is seasonal since it ebbs and flows with your cash flow. It can be pretty convenient – can you imagine if your landlord lowered your rent when you were having a slow month?
There are 4 ways to get started with your small business loan. It’s like a buffet of options. With us, you can get funding faster than it takes to get a letter delivered (no offense post office – we still think you’re great).