Merchant cash advance qualification requirements are more favorable to more small businesses
Qualification requirements for merchant cash advances are much less restrictive than traditional loans, which are typically only approved for wealthy business owners with property.
Alternative lenders make working capital available to a greater number of deserving small businesses by providing financing that is based on the future potential and projected revenue of the business rather than your credit score and financial history. These criteria will impact your terms and fees, but they’ll have less of an impact on your approval.
To receive an MCA, your business must accept debit and credit cards and have a minimum of 6 months of processing history. Otherwise, no collateral is required.