One of the major problems faced by small and startup businesses is a lack of funds. Shortage of capital prevents these businesses from continuing their operations. Some resort to borrowing funds from various creditors just to have the funds they need. Creditors may include individuals, lending companies, or financial institutions.
Loaning funds from these creditors can be easy. They only require documents such as proof of income, valid identification cards, and proof of address to apply for a loan. However, high-interest rates are imposed on top of the principal loan amount.
Merchant cash advance or MCA is a structured lump-sum payment in exchange for a percentage of a business’ debit or credit card sales. An MCA is not a loan, which is why it is often misunderstood and has a negative connotation for some. However, it may be helpful in providing companies with the funds that they need to continue their business operations.
Not all businesses can be eligible to apply for MCAs. They should be able to meet specific criteria:
If your business can meet the criteria, the lender can give you the funds you need.
Merchant cash advance leads provide businesses with many benefits. These benefits include:
MCAs leads are not all butterflies and rainbows. In fact, you should be wary of some things. Some of the downsides of MCA leads are:
MCA leads can help businesses acquire funds when they need them. They no longer need to wait for months before they receive the results of their application. Instead, they can receive the approval and the cash advance in weeks. As a business owner, you should weigh your options before making the final decision of getting MCA leads.
President
With over 10 years of experience in the Financial Sector, Oguz understands the unique challenges and opportunities Financial Service Providers face every single day.
He has developed and perfected a comprehensive blueprint that helps businesses create, automate and scale their entire MCA leads generation, marketing and all of the client acquisition strategies.
He is the best selling author of 2 books, international speaker, has been coaching hundreds of business owners on small business success and marketing. He’s a coffee connoisseur, a bookworm, father of 2 and Tofu.
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