Flexible repayment schedule​.

With MCA business loans, you can structure repayment schedule in one of two ways: get an upfront sum of cash in exchange for a percentage of your future credit and debit card sales, or get upfront cash that is repaid by remitting fixed daily or weekly debits from your bank account, in the form of an ACH withdrawal.

The difference in structured repayments

Instead of making a fixed payment each month from a bank account over a set period of time as with a traditional bank loan, with a merchant cash advance, you make daily or weekly payments, plus fees, until the advance is paid in full.

Percent of Credit Card Sales

Quick Business Funder will deduct a percentage of your credit or debit card sales until the agreed-upon amount you receive has been repaid in full. To begin, you apply for an amount of money that you require and provide your requirements. At that time, your application and bank statements will be reviewed to determine a factor rate. Once the factor rate has been assigned, you will be provided with an amount, as well as an agreement that is typically repaid over a 3- to 6-month period.

The predetermined percentage of sales for your business is an estimate based on your projected monthly revenue. Since your projected sales are only an estimate, and your sales can fluctuate, the length of your repayment schedule can be shorter or even longer than you may have expected. Simply put, the higher your credit card sales, the faster you’ll repay the merchant cash advance.

Fixed Daily Withdrawals

This type of MCA agreement requires a daily or weekly payment to be withdrawn, based on an estimate of your businesses’ monthly revenue. Unlike the repayment structure tied to credit or debit card sales, your payment will not fluctuate with your sales. You will be required to pay the same amount regardless of sales. That means whether sales are up or down, you will still be required to make a payment on the merchant cash advance.

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