Merchant Cash Advance provides New York businesses with upfront working capital in exchange for a percentage of future credit card sales
About Merchant Cash Advance in New York
New York businesses need business funding from time to time. A Merchant Cash Advance can bridge a gap, cover a loss, or provide a needed boost to a NY company that is falling short on cash to meet the need. A NY Merchant cash advance is a faster and more flexible way of getting business funding and moving ahead. This is a cash advance, not a loan and is based on the credit card sales deposited into your merchant account. We advance you the cash you need in exchange for a percentage of daily credit and debit card sales plus a fee. This is an innovative business funding solution and a fast way to get positive cash flow again.
Why do New York Businesses Need A Merchant Cash Advance?
Whether you need more equipment, want to buy ad space or revamp a website, purchase more inventory, or expand your business, a MCA in New York could be the solution you need. When your company has cash flow via your merchant account but you know a lump sum of capital could make a big difference for your business, the NY Merchant Cash Advance business funding option might be the answer your company needs. You’ll have flexible business use of the MCA and repay percentages of your credit card and debit transactions instead of feeling the pressure of meeting another set payment.
Alternative Funding Group is a business funding provider that offers business funding to small and medium businesses. We have helped many companies move ahead by providing the capital needed to operate, cover a gap or grow. We pride ourselves in assisting other companies to be the best they can be. We offer different types of funding, such as merchant cash advances in New York, to continue providing opportunities for growth and success.
Get answers to questions about merchant cash advance in New York
What is Merchant Cash Advance in New York?
A merchant cash advance is a business funding choice provided for businesses that need a lump sum of funding. This was created for companies that need the lump sum of money quickly and within a short amount of time that have regular credit card receivables being deposited into a merchant account.
In New York, is Merchant Cash Advance a NY Business Loan?
A NY merchant cash advance is not a loan and is treated as a trading transaction.
How Fast Can I Be Approved for an MCA Loan in New York?
The typical turnaround time to receive a Merchant Cash Advance in New York is 24 hours or less.
How Does a Merchant Cash Advance Work?
The business owner will receive a lump sum of money which is considered a cash advance. MCA providers usually deduct a percentage from the business’s daily credit card receivables until the MCA has been paid off.
How Long Has Merchant Cash Advance Been Around?
MCAs have been around since the 1990’s. They gained in popularity during the early 2000’s and even more so during the recession in 2010. Traditional banks did not lend funds easily during that time and MCA’s became a popular alternative funding method.
How To Classify Merchant Cash Advance?
A Merchant cash advance in New York can be classified according to interest rate, business credit limitation, and monthly revenue requirement.
How Do You Qualify for a Merchant Cash Advance?
To qualify for a New York merchant cash advance, you need to have daily credit and debit card transactions being deposited into your merchant account. Alternative Funding Group focuses on the credit profile and past credit card transactions.