MCA Loan Calculator
When you need a quick, easy loan, the Merchant Cash Advance is the most appropriate solution for you. This loan can be thought of as a quick capital infusion that you pay back using your business’s credit card transactions, on a daily basis. For a business that cannot offer collateral or does not wish to, MCA loans are the ideal option. The big advantage with these loans is that you can qualify for these even if your credit score is poor.
The MCA loan requires minimal paperwork and the funds are available to you within a day or two, making it possible for you to meet emergency financing requirements with these. However, the fact that you pay back the loan with a percentage of your daily sales through credit cards makes them more expensive than other options.
A simple and accurate way to find out whether your needs should be met with an MCA loan and whether these are the most viable options for your business is to work out the implications of taking such a loan. Use this calculator to plug in the numbers and find out the true cost of the loan.