Merchant Cash Advance.

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Small Businesses Funded

375 Million+

In Funded Capital


BBB Rating
Google 5 Star Rating

With the financial landscape becoming increasingly difficult for companies to navigate, getting a business loan has never been harder. However, there are alternatives to traditional bank loans. A merchant cash advance (MCA) is a simple and convenient way for companies to raise the funds they need without having to jump through the hoops of the bank loan application and approval process. By advancing cash to businesses based on their future sales, funders like AMP Advance offer companies a fast and effective path to finance growth. 

How do merchant cash advances work?

Much like a traditional bank loan, a merchant cash advance is a lump sum that comes from a business funder; however, it differs from a loan in a fundamental way. Since an MCA is a financing package based on your business’ projected revenues, funders are essentially purchasing part of your business’ future sales performance and using that as collateral. The funder — AMP Advance, for example — will look at your business receipts for the past four to six months, then make an assessment of how much working capital they can offer you. As a result, your credit history isn’t such a crucial part of the equation. 

Once an agreement is signed, the money can be supplied to your business in less than twenty-four hours. 

How to apply for a merchant cash advance

The application process and charges for MCAs can differ wildly in the marketplace; however, companies like AMP Advance understand the territory that smaller businesses find themselves in, and they attempt to make the whole process as simple and cost-effective as possible. The application process at AMP Advance begins with a simple online form that takes only a few minutes to fill in. 

As mentioned before, a funder will need to take a look at your business bank statements for the past four to six months in order to arrive at a financing amount that’s suitable for both of you; however, assuming that you meet the basic requirements for an MCA, the whole process — certainly at AMP Advance — can be finalized in less than a day. 

How much is a merchant cash advance?

The cost of an MCA varies depending on the funder you approach, but in general, they do tend to be more expensive than traditional bank loans. However, considering this kind of finance requires no collateral, little credit history, and next to no paperwork, it’s perhaps understandable. 

By and large, MCA costs are calculated as a factor rate — a multiplier of the amount of capital granted. For example, at AMP Advance, we work at a starting rate of 1.18 (18%). What that means in practice is if your business needs $10,000, we multiply that by 1.18, resulting in a total repayable amount of $11,800, which would be paid back on a weekly or monthly basis.

At this point, it’s important to note that there are two different types of merchant cash advances that businesses can choose from, depending on their needs. An ACH Advance (Automated Clearing House ) is the type of advance that we’ve been writing about so far — once the analysis and contract are complete, the funds are granted and paid back by automatic withdrawal. However, there is another type of MCA known as a Credit Card Split. In this scenario, although the factor rate is still fixed, repayments are only based on your business’ credit card sales. As a result, if your business is having a few lean months, there’s no fixed repayment figure that you have to meet, which is particularly useful for businesses that experience varied or seasonal trends in their sales. 

Who Qualifies for a merchant cash advance?

At AMP Advance, we try to make it as easy as possible for businesses to gain finance. That said, there are a few basic requirements you will need to meet in order to get started. Your business will need to have been in operation for at least three months, have gross monthly revenues of at least $5,000, be US-based, and have a business bank account, but that’s pretty much it. Assuming you can meet these requirements — and let’s be honest, if your business isn’t generating $5,000 a month, then perhaps you’re in the wrong business — it’s relatively easy to qualify. What’s more, at AMP Advance, your application has no impact on your credit, involves no application fees, and carries no obligation for you to take the funds.

How long are merchant cash advance agreements?

Due to the nature of MCAs — funding calculated on the projected performance of your business based on recent history —  advances tend to be shorter-term agreements, with AMP Advance offering repayment schedules of up to 24 months. Considering that it can be hard to know where your business — or the entire economy — will be in five to ten years, MCAs are not a long-term financial solution. However, if your business needs a quick injection of cash in order to capitalize on an opportunity or just to fix its damaged roof, merchant cash advances may well be the answer. The point is, you get the money quickly.

Industries served

With AMP Advance offering MCAs from $2,500 to $1,000,000, it’s fair to say this type of funding is best suited for smaller businesses. That said, the ‘small business’ category covers a huge number of varied enterprise types, most of which AMP Advance has successfully helped to finance. From restaurants and delivery services to IT and communication companies, AMP Advance has established itself as the go-to solution for convenient business finance.

If you’d like to know more about merchant cash advances or the range of finance options available at AMP Advance, why not get in touch and find out how we can help your business grow?

Here are just a few of the industries we’ve served…


RETAILERS (Except Tobacco Stores)
CONTRACTORS (of all types)

And many more not listed here. If you’re unsure if we serve your industry don’t doubt, reach out.

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Disclosure Agreement

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