If obtaining financing is always a complex process for an SME, in times of economic uncertainty it is even more so. However, MCA online loans appear as a favorable alternative to this problem.
Considering that, according to Wall Street Journal surveys, economists expect a 61% probability of recession this year, it is especially important to look for safe sources of financing.
Due to the great importance that SMEs have for the country, to allow them to continue to emerge and overcome times of crisis, new methods such as cash advance or MCA can play a crucial role. Find out what they are about here.
What is Merchant Cash Advance?
The MCA is a financing method that consists of the lender providing the client with a certain agreed amount of capital and the latter paying off his debt with a percentage of the sales he normally makes, plus a fee.
This method stands out as one of the friendliest sources of financing for SMEs, precisely because it is paid based on the development of monthly sales.
The payment plan varies in its periodicity, being able to daily, weekly or monthly. But, in all cases, it depends on the income. That is, if sales are high, the percentage paid is higher and, therefore, the debt is paid earlier. On the contrary, if there are low sales, the debt is being settled little by little. Its adaptability allows small and medium businesses to operate with greater confidence and peace of mind.
What are its advantages?
MCAs offer different advantages for those seeking financing:
- Less strict requirements: although these requirements may vary depending on the financial institution, they are usually less strict than those that a bank might request when granting a loan.
- Versatile quotas: since these vary depending on the month, they allow greater adaptability to periods of economic recession and do not hinder business operations. On the contrary, they drive their development and growth.
- Speed in the resolution: for those who seek to have capital immediately, the speed with which it is resolved to grant a cash advance is a great advantage.
- Transparency: the process does not have hidden charges, since the amounts, both the loan and the extra fee and the percentage, are established from the beginning.
Pymes Capital and Merchant Cash Advance
In a historical period where different social events have made the economic scenario unstable, the development of credits of this type has stood out for its speed and versatility, both in terms of requirements and payments.
To support you in difficult times, Pymes Capital offers the financing that your company needs. Discover their online loans and find the right partner to boost the growth of your business.
The application process is completely online. All you need is to fill out a form, have the credentials of your POS provider, sales paid by card in the last 6 months and give access to your SAT account. In a period of just 2 hours you can find out if your company is a candidate for financing.
Lean on Pymes Capital, forget about crises and focus on growing your business.