The Cost of a Merchant Cash Advance
A merchant cash advance provides small business owners with an alternative to traditional loans. While banks tend to offer lower rates, they can only do this after scrutinizing over mounds of detailed paperwork, confirming your perfect credit score and securing some valuable collateral.
Not every small business owner can bend to such strict stipulations; they just need someone who is willing to support them in their entrepreneurial efforts. Thatís where Merchant Resources International comes in. We believe in the power of small business, that's why we can grant more approvals, faster. All we require is a simple 2 page application and copies of your last six months of statements. That's it. Once approved, funding usually gets wired into your account within 10 business days.
Say for example Merchant Resources International purchases $10,000 of your future credit card sales at a 1.30 factor rate, your repayment would total $13,000 (the original $10,000 plus the provider fee). Now continuing with this same example, say your business makes $1,000 in daily credit card sales and you and MRI agreed upon a 25% repayment rate, $250 would be automatically repaid out of your daily batches. What this means is that in less than two months, your entire cash advance would be completely paid off.
When to Use a Merchant Cash Advance
What our clients like most about MRI is that we have no requirements or set boundaries when it comes to spending your merchant cash advance. The money is yours, and we believe that means you should have the freedom to spend it however you see fit. That being said, most of our success stories come from clients who invest the funds back into their business. Remodeling, updating and expanding are great ways to watch your merchant cash advance build directly into your businessís promising future.
We fund restaurants, medical offices, auto repair shops, grocery stores, beauty salons and more. Regardless of the type of business you run, working capital can both assist your business though the hard times and advance it to the next level.
Why Should I Choose Merchant Resources International?
We are not the only provider of merchant cash advances, but our customers rank us among the best. Since 2003 we have assisted over 10,000 small businesses in both the US and Canada. With 86% of our customers returning for renewals and a great standing with the Better Business Bureau, our compatibility with small business owners is reflected in our solid track record.
With the lowest industry rates, fast funding and multiple programs to choose from, we offer all of the convenience, speed and flexibly you need in a merchant cash advance.
- Have owned a business for 6 months
- Process at least $2,500 in credit card sales /mo
MCA Program Benefits
- Unsecured Funds
- No Application Fees
- No Fixed Monthly Payments
- No Collateral or Personal Guarantee
- Pay Only When You Get Paid
- NO Out-of-Pocket Cost
- Approvals in 24 Hours
- Get Funded in as Little as 7 Days
- 98% Approval Rate