Elevate Your Business with a Merchant Cash Advance
What is a Merchant Cash Advance?
A Merchant Cash Advance (MCA) represents a dynamic financial solution distinct from traditional small business loans. Rather than a loan, an MCA involves the purchase of a percentage of your future credit card sales. At Lily Pad Financial, we meticulously assess your company’s credit card receipts to determine the feasibility of repayment based on your day-to-day sales performance.
Our MCA agreements meticulously outline fees and collection methods. Unlike traditional loans, there is no fixed repayment date. Instead, repayment is contingent upon the full collection of the principal amount and predetermined interest. Our agreements transparently elucidate the lender’s rigorous qualifying process, ensuring fair and equitable eligibility criteria for our advances.
How Does a Merchant Cash Advance Work?
A Merchant Cash Advance hinges on three key elements:
-
Advance Amount: This represents the lump sum disbursed to the business owner upon approval. Our funding decisions are grounded in a thorough analysis of your business’s financial health.
-
Payback Amount: This encompasses the total amount the business owner commits to repay, comprising the funded amount and associated fees.
-
Holdback: A predetermined percentage of daily credit card receipts reserved to fulfill the MCA. This ensures a seamless repayment process without disrupting your business operations.
What Are the Benefits of a Merchant Cash Advance?
Merchant Cash Advances offer a myriad of benefits across diverse industries, including dentistry, catering, automotive services, and specialty retail. Here’s why businesses of all sizes and scopes opt for MCAs:
- Streamlined Application Process: Our MCA application process is straightforward, saving you valuable time and effort.
- Accessibility: A stellar credit score is not a prerequisite for MCA approval, fostering inclusivity and opportunity for businesses of all profiles.
- Payment Flexibility: Enjoy the freedom of flexible payment options tailored to your business’s unique needs and cash flow dynamics.
- Expedited Approval and Funding: With rapid approvals and swift disbursements, our MCAs empower you to seize opportunities and address urgent financial needs promptly.
- Collateral-Free: Unlike conventional loans, MCAs do not necessitate collateral, minimizing risk and simplifying the borrowing process.
Experience the Difference with Lily Pad Financial
Ready to propel your business forward with a Merchant Cash Advance? Explore our FAQ page for further insights or contact us today to embark on your journey towards enhanced financial agility and growth.