Why should the merchant use the cash advance program?
— No application fees. — Approvals within 24-72 hours. — Minimal amount of paperwork required to receive a quote. — No fixed monthly payments, totally automated retrieval process. — No collateral required. — Credit score is not the only determining factor. — There are no restrictions on the use of the funding. — Funds are usually received by the merchant in two to three weeks. — 100% tax deductible Back to Top 15 . What is the interest rate? Since the MCA (merchants cash advance) program is not a loan but a cash advance, there is no “interest rate” as such. The amount of the funder’s profit is known as a “fee.” This fee varies according to the amount of risk determined by the underwriting department. Unlike a bank loan there is no set payment to be made each month by the merchant. A fixed percentage is deducted daily by the processor from the merchant’s credit card account. If his credit card business is down then the repayment amount is also less. This is a great advantage ov
