TruFinCo’s streamlined process makes it quick and easy
As a new business owner or one without stellar credit, it can be difficult to secure financing during times when funds run low. That’s where a merchant cash advance can help.
A merchant cash advance (MCA) is a quick and easy way to secure business financing, typically for those reliant on credit card sales and with no or poor credit.
Once approved, business owners receive funds as a lump sum upfront and repay the advance with a percentage of sales. Most often MCAs are used to cover cash flow gaps and other emergencies.
An MCA is considered repaid once the balance of the advance and associated fees hits zero.
TruFinCo’s MCAs offer several advantages over the competition:
- Available from $10,000 to $5 million, with a minimum of $10,000 in monthly business revenue
- Flexible financing terms
- No minimum FICO score requirement
- Only 3 months’ time in business
- Same-day funding possible
Pros and cons of MCAs
Pros:
- MCAs are an accessible type of business financing for borrowers with little credit history or poor credit.
- The application process is streamlined for ease, and most MCAs are funded within a day or two.
- MCAs use future revenue to guarantee repayment, which means there’s no need to back the advance with business collateral.
Cons:
- Fees can total more than the interest rates of conventional business loans.
- MCAs payments aren’t reported to the credit bureaus, which means they’re not effective in building build credit history or improving a credit score.
- MCAs aren’t technically business loans, so they don’t fall under the maximum interest rates set by states.
Why Choose Us
At TruFinCo, we know that starting or growing a business can be scary, and we are here to help you. We are a correspondent lender comprised of real, passionate people. Our team works with hundreds of other lenders to make sure you get the funding you need.
We find out your story, choose the best option for you, and even give you an alternative. By removing all the pain points, we make the funding process easy. We take care of your fears and all the things that are stopping you from moving forward. Our goal is not only to fund you but also to coach you.
Our firm specializes in strategic credit restoration and consulting to guide you to a better financial future. We have a team of dedicated professionals on a mission to help clients go from feeling defeated and stressed out to being empowered and on track to a brighter future.
To learn more about our MCAs and credit restoration services or to book a free consultation, get in touch. We’re here to help you.
