Working Capital Within Reach for More Companies

June 18, 2012 - PRLog -- (New York, NY)---Many small- and mid-sized businesses struggle to secure working capital for their company. High loan eligibility requirements for small businesses, tight credit restrictions and lack of credit card processing in-store mean companies have few financial options for expansion, renovations or other urgent expenses.
Introducing Merchant Cash and Capital’s new Cash Advance financing program for businesses that do not accept credit cards or that only accept a limited volume of credit card processing. This program makes cash available for businesses that do not qualify for traditional cash advances and those who didn’t previously qualify for financing through MCC, which was based on credit card statements. Here’s how it works: Business owners give Merchant Cash and Capital online access to view their bank accounts, then MCC can finance up to 100 percent of their monthly sales as a cash advance. To pay back the cash advance, MCC will take a percentage of future deposits into the account.
“Since we offered this new financing program, we have seen a huge response,” said Seth Broman, vice president for business development at MCC. “Just in the past month, we funded 12 businesses on this program with an average of $81,000—nearly three times the average of our normal deal size. So many small businesses have been overlooked because of their size, revenue or payment types and now we can offer them this much-needed working capital.”
Specializing in restaurants, learning centers and schools, healthcare facilities, manufacturers, professional services and more, Merchant Cash and Capital reviews an eligible company’s monthly revenue and provides them with a merchant cash advance in as soon as 3-5 business days. Eligible companies must have been in business for at least two years and have a minimum of $25,000 monthly revenue.