COVID-19 (Coronavirus) spread is an emerging, rapidly evolving situation taking a toll on public and business health. Businesses are contending with worried or sick employees, supply chain disruptions and above all how to keep their business afloat. The times are tough, and uncertainty lies ahead so having contingency plan like a merchant cash advance might lend a lifeline for many small to medium business owners.
A merchant cash advance (MCA) is a form business financing in which a lump-sum cash is given to a business in exchange for an agreed-upon percentage of future revenues or credit card sales. MCA usually have shorter payment terms and payments are often as a percent of daily sales. MCA is not a loan – it’s a purchase of future processing receivables.
