Merchant Cash Advances
When you receive a merchant cash advance from Get Reach Media, you’ll get a lump sum of capital in exchange for a percentage of your future business sales.
Merchant Cash Advance Rates
Merchant cash advances use factor rates instead of traditional interest rates. Factor rates are decimal figures that indicate the total repayment amount over the original loan. Your factor rate is determined through a risk assessment. Most factor rates range between 1.1 and 1.5.
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What is a Merchant Cash Advance?
A Merchant Cash Advance (MCA) is a financing option where businesses receive upfront cash in exchange for a percentage of future credit card sales. Unlike traditional loans, MCAs have a faster application process and offer flexible repayment terms.
When you receive a merchant cash advance from Get Reach Media, you’ll get a lump sum of capital in exchange for a percentage of your future business sales. This provides you with immediate working capital, while we collect a portion of your sales until the agreed amount is repaid.
Our Funding Advisors will work with you to create a customized funding plan that supports your business growth without straining cash flow. Businesses averaging at least $7,500 in monthly sales over the past three months typically qualify for MCA funding between 70% and 120% of their average sales, with amounts ranging from $3,000 to $500,000. We offer both fixed and flexible repayment options with no fixed term.
Who Should Apply for a Merchant Cash Advance?
Merchant cash advances are ideal for:
- Businesses needing fast funding—MCAs can be deposited in as little as 24 hours.
- Businesses that process a high volume of debit and credit card transactions.
- B2C businesses looking for smaller funding amounts.
- Businesses with lower credit scores.
- Business owners without collateral, such as real estate or other assets.
MCAs can benefit a wide range of industries, including restaurants, dental practices, law firms, medical practices, gas stations, pharmacies, and more. No matter your industry, our expert Funding Advisors will work with you to find the best funding option to support your business goals without impacting cash flow.
How to Apply for a Merchant Cash Advance
Apply
Gather three months of bank statements and other records. For faster approval, you can grant secure access to your bank’s transactional data.
Choose Funding
A Funding Advisor will contact you within an hour (during business hours) to complete your application and discuss funding options.
Get Funded
Once you choose the best funding option, your funds can be approved and deposited within 24 hours.
Set Repayment
Payments will be automatically deducted from your daily or weekly debit and credit card sales, based on your revenue.
How to Use a Merchant Cash Advance
There are no restrictions on how you can use a merchant cash advance. MCAs are best suited for growth strategies that help increase revenue, such as:
- Seizing time-sensitive opportunities to expand.
- Enhancing marketing efforts.
- Purchasing inventory or raw materials in bulk.
- Upgrading equipment or technology.
- Hiring new staff.
- Investing in training and professional development.
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Merchant Cash Advance Requirements
Traditional banks and SBA loans are often limited to business owners with significant assets and strong credit scores. Get Reach Media offers more flexible approval criteria, focusing on the overall health of your business rather than just credit scores. No collateral is required, but your business must accept credit and debit card payments to qualify.
Factors considered for approval:
- Business revenue
- Cash flow
- Vendor payment history
- Years in business
- Public records
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Frequently Asked Questions About Merchant Cash Advances
Got more questions? Why not explore our range of commonly asked questions. If you're still wanting more answers, book a call today!
Yes, you may qualify for a merchant cash advance with bad credit if your business has strong cash flow. Get Reach Media has lower credit score requirements, typically starting around 550. MCAs, invoice factoring, and other alternative funding options can be ideal for businesses with low credit scores.
Every business is unique, so it's best to speak with one of our Funding Advisors to review your eligibility. In general, we look for consistent revenue with at least $7,500 in monthly receipts and six or more months in business. We also consider the overall growth potential of your business beyond just credit scores.
Some alternative lenders may approve an MCA without bank statements, but the rates will likely be much higher. Get Reach Media requires three months of bank statements and other financial records.
No, we do not restrict how you use your merchant cash advance. While our team can offer guidance, you decide how to invest in your business growth.
Any business that accepts credit and debit card payments may benefit from a merchant cash advance, regardless of industry. Our Funding Advisors will assess your eligibility and help you find the best option.
MCAs do not have interest rates because they are not traditional loans. Instead, they use a “factor rate,” which determines the total repayment cost based on your business's financial health.
Learn More About MCAs
Merchant Cash Advances: What is an MCA & What Are They Used For?
7 Myths and Misconceptions About Merchant Cash Advances
How Do Merchant Cash Advances Work for Small Business Financing?