For small businesses, a bank loan can be an albatross that is difficult to shake off. To shield your company from the risks associated with a bank-funded small business loan, consider merchant cash advance, or MCA, funding. Here is what you need to know if you are considering a merchant cash advance in New York, NY .
When your business needs working capital, a small business loan from a bank may not be a viable solution because of the length of the application process. The loan requirements and terms of the loan can also either prevent you from securing capital at all or put you in a position where your future cash flow will be crippled when you need it to grow. With MCA funding, you can access the working capital you need without meeting the strict criteria of a bank loan. Your repayment is taken as a percentage of future sales transactions, so repayment is easy to manage and in line with what you can pay without jeopardizing your operations. MCA funding makes it possible to protect your business from the risks of bank lending while still getting the capital you need when you need it.