Merchant Cash Advance
A Merchant Cash Advance (also known as an MCA or ‘credit card receivable funding’) is an alternative funding solution that allows a business who may not qualify for a loan to borrow money based on existing sales. Instead of paying back a set amount each month, you will pay back as an agreed percentage of your EFTPOS sales
- No fixed repayment
- Helpful for businesses who don’t qualify for a loan
- Flexible approval criteria
- Short terms
Merchant Cash Advance : Eligibility Criteria
Lending criteria may vary lender to lender, so we take the time to understand what your business needs. Generally, when assessing eligibility, a lender will require the following:
- Trading for minimum of 3 months
- Minimum monthly turnover of $10,000 to $20,000 (depending on time in business)
- Registered ABN/ACN
- Australian citizen or permanent resident
