Need quick funding? 
A merchant cash advance is your solution.

Familiarize yourself with the Mca application process.

Before proceeding with your Merchant Cash Advance application, make sure you gather the following essential documents:

  • A simple one page application: Provide your basic business information, such as your business name, address, years in operation, revenue, ownership details, and contact information. 
  • Recent business bank statements (3-6 months): Lenders require these statements to evaluate your business’s cash flow and revenue history. 
  • Proof of identity: Including a copy of your driver’s license or any government-issued identification in your application validates your identity. This step is important for the lender’s security measures and ensures that only authorized individuals are applying for the Merchant Cash Advance.
  • Voided check: Providing a voided check serves two purposes. First, it confirms the details of your business account, such as the account holder’s name and the bank’s routing number. Second, it verifies your business’s banking information, ensuring the funds are deposited into the correct account.

By gathering and organizing these documents in advance, you can streamline the application process and avoid delays. Having all the necessary paperwork readily available ensures that you can present a comprehensive picture of your business, legitimacy and financial health.

Meeting Eligibility Criteria For A Merchant Cash Advance

In addition to providing the required documents, meeting the eligibility criteria is essential for securing a Merchant Cash Advance. While the specific requirements may vary between lenders, the following criteria are often considered:

  1. Consistent monthly revenue: Most lenders prefer businesses with a minimum monthly revenue of $10,000 or more. Demonstrating a healthy cash flow gives lenders confidence in your ability to make regular payments.
  2. Time in business: Lenders typically require your business to be established for at least six months or longer. This timeframe indicates stability and reduces the risk associated with newer businesses.

 

To Apply with a Team Member

Click Here

7905 Crespi Blvd, Miami Beach, FL 33141

Office@bluestreaminvestors.com