Funding Connection
Merchant Cash Advance
Merchant Cash Advance
A merchant cash advance (also known as an MCA or ‘credit card receivable funding’) allows you to borrow money based on your existing sales. Instead of paying back a set amount each month, you will pay back a percentage of your turnover.
- No fixed repayment
- Helpful for businesses who don’t qualify for a loan
- Flexible approval criteria
- Short terms
Frequently Asked Questions
1How fast can I access the funds?
Like most lenders it can vary on your application, but it can be funded in as little as 24 hours.
2Can I access a merchant cash advance if I’ve been turned down for a loan?
Depending on the lender, you could qualify for a Merchant Cash Advance. The lender will consider several factors from cashflow to the overall well-being of the business.
3What is the interest rate?
The cost of a Merchant Cash Advance has a set fee that will be disclosed upfront. This fee is also based on other elements, such as risk factors.
Merchant Cash Advance: Eligibility Criteria
We take the time to understand the needs of each of our clients because we know lending criteria may change from lender to lender. Eligibility varies between lenders, but there are some commonalities. To give you an idea, most lenders will require the following:
- Trading for minimum of 3 months
- Minimum monthly turnover of $10,000 to $20,000 (depending on time in business)
- Registered ABN/ACN
- Australian citizen or permanent resident
Let's discuss your financing options
If you are looking for financing options to support your business, please give a moment of your time to let us show you how we can make the process of business funding quick, easy and uncomplicated for SMEs all across Australia.
Looking forward to your call.