Merchant Cash Advance
Fast working capital based on your future sales. Get funded in as little as 24 hours with minimal paperwork.
LOAN RANGE
$5K – $2M
TURNAROUND
24 hours
Best for businesses that need fast working capital within 24 hours and prefer revenue-based repayment over fixed monthly loan payments.
About Merchant Cash Advance
A Merchant Cash Advance (MCA) provides fast working capital to businesses based on future sales revenue rather than traditional credit metrics. Unlike a loan with fixed monthly payments, an MCA involves purchasing a portion of your future receivables at a discount. Repayment is automated through a small percentage of your daily credit card sales or bank deposits, which means payments flex up and down with your revenue.
MCAs are designed for speed and accessibility. Most applications are approved the same day, and funding can arrive in your business bank account within 24 hours. The qualification process focuses on your monthly revenue and bank deposit history rather than credit scores, collateral, or years in business, making MCAs available to businesses that may not qualify for traditional financing.
Slate Financial works with MCA providers who offer competitive factor rates and transparent terms. While MCAs carry a higher cost of capital than traditional term loans, they serve an important role for businesses that need capital urgently, have been declined by banks, or prefer the flexibility of revenue-based repayment. Our team ensures you understand the total cost and structure before you commit, so you can make an informed decision.
How It Works
- 1Submit a brief application along with your last 4 months of business bank statements and a voided check. No tax returns or financial statements required.
- 2The underwriter reviews your average monthly deposits, daily balances, and revenue consistency to determine the advance amount and repayment structure.
- 3You receive an offer detailing the advance amount, factor rate, total repayment amount, estimated daily or weekly payment, and term length.
- 4Upon acceptance, a simple contract is executed and funds are deposited directly into your business bank account, often within 24 hours.
- 5Repayment begins automatically through daily or weekly ACH debits from your business account, calculated as a fixed percentage of your revenue or a fixed daily amount.
Who Qualifies
- Minimum 4 months in business with an active business bank account
- Average monthly bank deposits of $10,000 or more
- No minimum credit score requirement (all credit types considered)
- No open bankruptcies (prior discharged bankruptcies may be acceptable depending on timing)
- Business must be based in the United States with a valid EIN or SSN
Typical Terms
| Advance Amount | $5,000 - $2,000,000 |
| Factor Rate | 1.15 - 1.50 |
| Repayment Term | 3 - 18 months |
| Payment Frequency | Daily or weekly ACH debit |
| Holdback Percentage | 5% - 20% of daily revenue |
| Time to Fund | Same day to 24 hours |
Pros & Cons
Advantages
Considerations
Ready to Apply for Merchant Cash Advance?
Fill out the application below and a funding advisor will reach out within 1 business day.
Program Highlights
Required Documents
Have these ready to speed up your approval:
Typical Timeline
24 hours
Timeline begins after all required documents are received and verified.