A merchant cash advance or MCA provides fast working capital to small businesses. The funding is guaranteed by a businesses future receivables. A specified percentage of future credit card sales or a fixed daily payment will be assessed to repay the advance plus the finance fee. The advance provider will determine a reasonable advance and daily re-payment amount.
MCA's have recently gained popularity, this could be due to many factors including a fast application process and easy to understand terms. Many new advance providers are entering the market making much needed capital available to business owners. Additionally, Merchant Cash Advance programs allow business owners with bad credit to still obtain funding.
Small business funding is now available in Puerto Rico. Attractive factor rate and term for established brick and mortar businesses. To qualify your retail business or restaurant must have a minimum of one year in operation. Advance amounts range from 5,000 to 500,000 (USD). A minimum of 10,000 per month in total sales is required. Bad credit is OK! Fast funding usually within three business days upon receipt of application documents. Contact us for more information about business funding available in Puerto Rico.