Merchant Cash Advance provides Kentucky businesses with upfront working capital in exchange for a percentage of future credit card sales
About Merchant Cash Advance's in Kentucky
Merchant Cash Advances in Kentucky are one of the finest business lending solutions for small and mid-size capital businesses throughout the nation, as well as throughout the world. Right now in Kentucky, you can be approved for a cash advance loan without having to pledge collateral.
Why do Kentucky businesses need Merchant Cash Advance Funding
When you look at why merchant cash advance loans are needed by business owners in Kentucky, it’s really no mystery. Credit card processing is one of the most important services that TX businesses provide to their customers, and when businesses experience a period of slow business, like they are experiencing currently, they can run into problems meeting their financial obligations. If you’ve got a customer who isn’t making a payment, but you still have other customers waiting in line, it can be a frustrating and financially threatening situation. That’s why businesses need a merchant cash advance in Kentucky in order to keep their doors open.
How can Kentucky Alternative Funding help businesses with a Merchant Cash Advance?
Kentucky Merchant Cash Advance solutions allow a businesses’ merchant account to expand when they need it, and at an affordable cost when compared to other types of borrowing. In fact, the interest rates are almost always less than what you would pay for a traditional loan against your property, even though the repayment terms will be much longer. This makes Alternative Funding Groups MCA an excellent solution for a Kentucky business owner who needs the immediate funds to keep his or her business afloat, but doesn’t want to use credit cards for the purpose.
Get answers to questions about merchant cash advance in Kentucky
What is Merchant Cash Advance in Kentucky
A merchant cash advance in KY is a funding option that provides a company with immediate access to a lump sum of money. The company then pays the balance through their daily credit card and debit card earnings.
In Kentucky, is Merchant Cash Advance a KY business loan?
A merchant cash advance in Kentucky is not a business loan but an exchange.
How fast can I be approved for an MCA loan in Kentucky?
After you have submitted your requirements for a KY merchant cash advance, expect a response from our team within 24 hours.
How does a merchant cash advance work?
An MCA provides businesses with a lump sum cash advance. This is paid daily through the company’s credit and debit card receivables. The borrower will continue to pay the merchant cash advance provider until the MCA has been paid in full.
How long has merchant cash advance been around?
Even though merchant cash advance existed in the 1990s, it was not popular until the early 2000s, and again in 2010 during the recession. Businesses are not always accepted for traditional loans so an MCA is convenient.
How to classify merchant cash advance?
Businesses in Kentucky can classify cash advance based on monthly revenue, interest rate, and business credit limit.
How do you qualify for a merchant cash advance?
If you are interested in a KY merchant cash advance, your business must be located in the 48 contiguous states, has a $90,000 annual revenue or at least earned $7,500 in the last quarter. It is also required for applicants to have a regular credit and debit card transaction history.