First Capital Business Finance
This is the traditional MCA program, which is also known as a “business cash advance” and does not require tax returns to qualify or collateral to qualify. This does require your company to have a merchant account that is processing credit card transactions. This type of financing is perfect for restaurants, retail stores, service providers, and any other type of business that is taking credit cards as the main form of payment. This is based on your company’s future credit card sales, and the advance will be based on your previous monthly averages. So. in essence, this is not really a loan but more of a cash advance in the exchange of a percentage of your future credit card sales.
How MCA’s work:
The qualifications are based on your past credit card transactions. We will take anywhere from your last 3 to 6 months’ total monthly average to get an idea of the maximum amount you qualify for. This will give us an idea of what to expect in your future credit card sales. The repayment plan for this type of funding is based on your daily credit card transactions, and there will be a percentage of the sales that will go towards paying down your advance (loan). So, this provides a great method of repaying the debt, because if your business had a great day in credit card sales, the payment would be higher and the debt would be paid down faster. Then on the other end, if you had a slower day in credit card sales, your payments would be lower. This is a great solution for businesses that might have fluctuating sales day today. You won’t be burdened with a fixed higher payment if you have a slow day in sales. But with the ACH MCA, you would have a fixed payment, and even if you had a slower day you would still be responsible for that fixed payment.
• No Tax Returns Required
• Less-than-Perfect Credit
• Repayment Plan is Based Off Your Cash Flow
• Start-up Businesses OK! (No minimum time in business)
• Good & Bad Credit business loan Programs Available
• Terms Ranging from 12 Months to 72 Months
• All Equipment Related to your Business can be Financed!
• Financing from $5,000 to $5,000,000
If you plan on using the working capital to acquire equipment for your business, this program might not be the best solution for you. We also offer other programs for financing equipment, to learn more about this type of financing click on the following links listed:
• Commercial Vehicle & Semi Truck Financing
• Construction Equipment Financing
• Restaurant Equipment Financing
• Medical Equipment Financing
• Waste Management Equipment Financing
• Plumbing Equipment Financing
• Landscaping Equipment Financing
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