A merchant cash advance from United Funding Group can be an excellent way to finance your small business, but only if you do it right! Learn how to assess your company’s needs and if a merchant cash advance from United Funding Group fits into your overall financial strategy in this article on merchant cash advances.

What is a Merchant Cash Advance and Why Get One

A merchant cash advance (also known as MCA) is short-term financing that gets you cash quickly. The benefits of an MCA are numerous, with increased revenue being just one of them. If you’re currently looking to grow your business but don’t have enough capital on hand, then a merchant cash advance may be a good option for you.

Benefits of Merchant Cash Advances for Small Businesses

Unlike loans that require you to pay interest on your balance, merchant cash advances have few strings attached. You get to keep 100% of your credit card processing revenue, as well as keep your existing merchant account. There are no extra fees or hidden charges. And, you won’t be stuck with loans lasting several years—cash advances can be paid out in anywhere from 30 days to 12 months.

Understanding Payments, Rates, Fees and Timelines

Terms like APR, finance charge and commission can be confusing, especially when you’re looking at whether to get a merchant cash advance. To make sense of it all, it’s important to understand how these terms are used in business. If you need help figuring out what type of small business loan is best for your business, feel free to contact us or check out our guide on rates, payments and timelines. We’ll help you better understand what to expect from different financial services so that you can make an informed decision about whether a merchant cash advance makes sense for your company.

The Process of Getting a Merchant Cash Advance

The merchant cash advance industry is growing exponentially, as more businesses and business owners search for viable financing options. Before you jump on board with one of these loans, it’s important to know what’s involved in getting one. In order to qualify, you’ll need at least six months of business operating history, and be able to provide tax returns (or be willing to provide them when requested). Next comes something called proof of funds—where they take into account how much money you make on average per month. 

How to Use Funds From Merchant Cash Advance

A merchant cash advance from United Funding Group is your best option, here are some ways to use those funds: 

  • Make necessary upgrades: If you’re interested in new point-of-sale systems or credit card machines, now is an ideal time to do so. Not only will these upgrades make your business more efficient, but they can help prevent business interruptions.
  • Pay down debt: If you are carrying high-interest debt, like credit cards or even one of our personal loans, consider using funds from your merchant cash advance to pay it off. This can help lower interest rates on future debts and put you in a better financial position overall.

How Can You Afford Not to Get an MCA Loan?

Many small business owners take out merchant cash advances because they’re tired of hearing no from traditional lenders. Without an MCA loan, many businesses would never get off the ground or even survive through tough economic times. When you choose an MCA lender like United Funding Group, it’s easy to see why so many borrowers have gotten an MCA loan to finance their growing businesses. 

Why Choose United Funding Group as Your Provider?

While there are many financing options available to small businesses, most fail to meet all of a business owner’s needs. A merchant cash advance is a popular form of business financing because it offers more flexibility than traditional bank loans, which often come with strict repayment terms and high-interest rates. With United Funding Group’s flexible repayment structure, you can repay your capital in full whenever it makes sense for your business — whether that’s in 30 days or three years. We don’t charge any prepayment fees or hidden costs. Apply quickly here

So if you’re looking for small business loans that will work with your busy schedule and offer financial flexibility, then contact United Funding Group today!

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