Merchant Cash Advance
Since MCA is cash flow driven, companies with poor personal and business credit can also get an approval.
Merchant Cash Advance ranges anywhere from $5,000 up to $2,000,000 (depending on the percentage of the business credit card receivables or daily cash balances and bank statements to determine the initial advance). This can be for a period ranging from 3 months to 2 years.
The business pays back the advance, alongwith a percentage from a portion of their credit card receivables or cash available. Repayment for these transactions are usually made either on a daily basis or on a weekly basis by an automatic deduction from a company’s credit card sales or bank deposits.
The Canna Group Benefit
- At Canna Group, we offer faster funding and easy renewals, which means you can have money in your bank in the least time possible.
- We offer a “No Hassle” payback, which means your payments are automatically held from your credit card transactions.
- We offer a flexible structure that allows businesses to be able to afford the payments. With a merchant cash advance, we get paid when you get paid. Our payment is a percentage of your daily sales, so if you have a low month you pay back less and if you have a good month, you pay back more.
- An MCA is more like a sales transaction. There are no collaterals required in this case, it requires you to be subject to a limited amount of conditions.
What are the Cons of Merchant Cash Advance?
- Might be expensive due to high fees
- Requires daily or weekly repayment
- Can prevent attempts to get traditional financing
- Blanket lien on all business assets
- May stress cash flow
- Short repayment terms
Where you can use MCA?
- Buying Equipment
- Paying Employees
- Purchasing Inventory
- Expanding the Business
- Running Marketing Campaigns Franchise Fees
- Furniture and Fixtures
- Machinery and Equipment
- Real Estate
- Purchase Licensing Fees
Benefits of a High Risk Merchant Cash Account
- Quick Approval Rate = Faster Cash-in-hand.
Which means you can benefit from the current market prices.
- Quicker approval times from an MCA provider than a bank. This translates to faster cash-in-hand, allowing you to take advantage of current market prices.
- Lot of incentives when it comes to small business financing.
- Minimal documents required.
- Almost all credit-types are acceptable.
- Gives funds even with tax liens.
- Online process.
- Funds are transferred directly into the business account.
- Unlike traditional financial institutions, MCA doesn’t set any guidelines on how the funds are to be used.
We have a positive reputation in this industry because of our fair, customized pricing and quality customer support.
Our high-risk merchant account provider gets credit card transactions processed online or face to face in no time.
Canna Group specializes in payment processing solutions for businesses that require high-risk merchant accounts to process credit card payments.
We say “Yes” when other processors say, “No”!
To begin your processing payments reach out to us today.
CannaGroup, LLC. All Rights Reserved 2019.