Top Four Merchant Cash Advance Companies

Sunwise Capital, Credibly, Fora Financial, and Paypal Working Capital are among the top four merchant cash advance companies available for business owners. If you need quick financing for your business, these merchant cash advance lending companies can help. 

Are you a business owner looking for alternative financing solutions for your company? Maybe you’d like to know which merchant cash advance company is the best fit for you. 

In this article, we will discuss four of the top merchant cash advance (MCA) companies. We will also share the benefits of working with an MCA company, as well as tips for choosing the right company for your business. Keep reading to learn more! 

Best Merchant Cash Advance Companies for Businesses 

Some of the best merchant cash advance companies are Sunwise Capital, Credibly, Fora Financial, and Paypal Working Capital. These companies are set apart from the competition due to their transparency and reputation. 

Merchant cash advance companies provide business owners with an upfront sum of capital that the owners will repay using a percentage of their future debit and credit card sales. Merchant cash advances are some of the fastest ways to acquire funding for your business. 

We will share more information about the best merchant cash advance companies below. 

Sunwise Capital

Sunwise Capital is a trusted and reputable merchant cash advance company that has been offering loans and financing options for businesses since 2010. Their goal as a company is to help you build a long-term financial foundation for your business. 

Sunwise Capital offers a merchant cash advance application process that is fast and convenient and can be done entirely online. Business owners will not be asked to provide collateral or assets, bad credit does not disqualify you from funding, and same-day approvals and funding are available. 

The requirements for a merchant cash advance from Sunwise Capital include being in business for a minimum and a minimum gross yearly revenue of $200,000. Business owners with higher credit scores can also qualify for special programs. 

Credibly

Credibly is a leading merchant cash advance company due to its forgiving eligibility criteria and wide range of business financing options. It can also review applications within one business day, making your funding happen as quickly as possible.

Credibly’s minimum requirements for their merchant cash advances are that the borrower must have been in business for at least six months and bring in a monthly revenue of at least $15,000. 

Fora Financial

Fora Financial provides business capital through business loans and merchant cash advances. Fora Financial doesn’t require a hard credit pull during the application process, and they can fund businesses with a credit score of at least 500. 

Some requirements Fora Financial has for its borrowers are that they have been in business for at least six months, have no open bankruptcies, and obtain at least $15,000 per month in revenue. 

Paypal Working Capital

PayPal Working Capital is a merchant cash advance company that offers funding to businesses using information from your PayPal account history. Borrowers will repay the MCA automatically with a percentage of each PayPal sale until the amount is paid in full. 

To use an MCA from PayPal Working Capital, you will need to have a business that has had a PayPal Business or Premier account for 90 days. You will also need at least $15,000 to $20,000 in annual PayPal sales. 

Benefits of Working with Merchant Cash Advance Companies

The benefits of working with merchant cash advance companies instead of a more traditional lender include a quick solution to funding, considerations of lower credit scores, and the ability to use your capital how you please. 

• A Quick Solution to Funding: Merchant cash advance companies can offer you same-day approval and funding for your business. Traditional business loans have an inconvenient application process that can take weeks or longer to be approved. With an MCA, you can quickly access capital for your needs. 
• Considerations of Lower Credit Scores: Merchant cash advance companies consider lower credit scores whereas a traditional lender like a bank would disqualify you for not having a FICO score in the mid to high 600s. Even business owners with bad credit can qualify for an MCA. 
• Use Your Capital How You Please: Merchant cash advances allow you to use your capital how you prefer with your business. You can use it for payroll, hiring new employees, expansion and growth, upgrading equipment, and more. 

Tips for Choosing a Merchant Cash Advance Company

When choosing a merchant cash advance company to work with, keep in mind important tips like researching the company, understanding fees and rates, and comparing offers from multiple lenders. We will discuss these tips in further detail below. 

• Rearch the Company: Business owners should do their due diligence to make sure the merchant cash advance company they choose is a reputable provider. Take the time to read customer reviews and learn about their reputation in the industry. You will want to look for full transparency and fairness. 
• Understand the Fees and Rates: When choosing a merchant cash advance company, take the time to carefully review the fees and rates that accompany the merchant cash advance. Look out for any hidden fees and choose a company that offers transparent fee structures. 
• Compare Offers from Multiple Lenders: If you’re unsure which merchant cash advance company is the right choice for you, you can compare offers from multiple lenders to see which fits your unique situation best. Some lenders may have better factor rates or higher funding amounts than others.

Utilizing these tips can help you find the best merchant cash advance company for your unique business and needs. 

Conclusion

Business owners looking for quick funding can choose between some of the top merchant cash advance companies, such as Sunwise Capital, Credibly, Fora Financial, and Paypal Working Capital. These lenders are trustworthy and can help you invest in your business. 

Want to know more about merchant cash advances? Talk to a specialist today from Sunwise Capital! We are well-versed in business financing, and we can understand the challenges business owners may face when trying to secure funding for their companies. 

We have various business financing options available across the states. For more information, contact us online on our website, email us at info@sunwisecapital.com, or call us at 888-­456-9223 to begin your business financing journey today. 

Frequently Asked Questions: Top Four Merchant Cash Advance Companies

How can I know if a merchant cash advance is right for my business?

A merchant cash advance works best for businesses that have consistent credit card sales and need quick access to funds without the strict requirements and rules of traditional loans. If your business does not have regular daily or weekly credit card sales, it will likely not be a good fit. 

How quickly can I receive approval and funding from a merchant cash advance company? 

The speed of your approval and funding will depend on the merchant cash advance company you choose, but some lenders, such as Sunwise Capital, offer same-day approval and funding. This can be a great resource for business owners who need money as quickly as possible. 

What should I look for in a merchant cash advance company? 

When choosing a merchant cash advance company, look for a lender with transparent fee structures and a reputable and trustworthy history. You should also consider your unique needs and find a company that offers factor rates and fees that fit your budget.