5 Reasons Your Business Would Benefit from an MCA
Updated: Sep 21
It’s been a weird year, huh?
We know it’s a hard time to be a business owner. Many of you are waiting to hear news about the second round of stimulus packages while undergoing financial hardships now. If you are in need of funds quickly, we want you to know you have options outside of government-provided stimulus checks. You don’t have to keep waiting.
At Elevate Funding, our COVID-19 mission is to help small brands like yours navigate this new normal and get the funding needed to sustain your business.
We’re a direct funder that specializes in Merchant Cash Advances (MCAs). An MCA is not a loan – it’s simply a way to get access to your future sales immediately. Merchants often pursue MCAs to help cover emergencies and other urgent business needs that arise.
Having quick access to future funds is especially important in the current climate as businesses learn to adapt to evolving health and safety standards.
An MCA might be the best funding choice for your business right now if…..
1. Funds have been tight lately. We know cash flow has been tight this year for small businesses in most industries. Just one year ago, no one could have predicted the economic impact of this health crisis. Thankfully, we have a wide range of funding options available. We can offer up to $100,000 in funding, or as little as $2,000. We will work with you to determine your specific funding needs, identify how much you qualify for, and ensure you’re in a comfortable and prosperous position.
2. You may not have qualified for a traditional bank loan. MCAs are easier to qualify for than traditional bank loans. We conduct our background checks and evaluate your business without ever having to run your credit. Your credit score will not impact your eligibility.
3. You don’t want to pay a bunch of crazy fees and hidden costs.
Unlike many financial institutions, we do not believe in charging excessive fees, and we will never adjust your offer just to increase our profit. With each working capital offer, we provide an information sheet that outlines exactly what you’re paying for and what fees are being charged. The dollar amount we offer is what you'll receive – no surprises.
4. You may need some flexibility in your payment schedule. With MCA, your payback percentage is fixed, not your payback dollar amount – meaning we adjust the dollar amount of your repayment according to the sales you're making, whether that's $100 a week or $100,000 a week. We offer direct payments (ACH) and credit card split, and we accept payments either daily or weekly. We never want to be a burden to our merchants. Our aim is to help businesses, not harm or impede them.
5. You need some relief fast. Sometimes, traditional bank loans simply take too long. MCA turnaround is fast, reliable, and efficient. We can –and do– fund businesses in as little as 24 hours. All funds are sent via bank wire, so your funds are accessible immediately.
At Elevate Funding, transparency and honesty are at the core of what we do. When you select us as your funding provider, you are placing a safe bet on your financial future. We want to see our merchants succeed, and we will do everything in our power to work with you on your specific needs. We know small business, and we’re here to help.
If you need funding and wish to speak to someone now, please call us at 888-382-3945 or click here to send us an inquiry. One of our teammates will get back to you as soon as they are available.