A merchant cash advance is the best option when a small business requires a little capital urgently. It is most suitable for firms that largely obtain revenue from credit and debit card sales. These companies include restaurants, cafes and retail outlets. A merchant cash advance is technically a commercial transaction as opposed to a loan, and a borrower receives a lump sum amount in exchange for a percentage of their sales.

Repayments of merchant cash advances can are made in two ways. First, you can receive a particular sum of advance in exchange for a percentage of your future credit card sales.

Step 1: Fill the MCA application with your business tax ID, Social Security number, and other vital information.

Step 2: Provide documentations such as monthly bank statements, credit card receipts, proof of citizenship and a copy of the lease for your business premises.

Step 3: Get the approval for the MCA within 24 hours.

Step 4: Set up the credit card processing.

Step 5: Make the final agreement on the details of the merchant cash advance.

Step 6: Once the deal is finalized, the advance amount will be deposited into your account. The repayment through the merchant account will activate almost immediately. Typically, it takes about two days for the advance to be deposited into the business’ account after approval has been made.