[Dean]

I have a small business and need some quick cash. I can’t go through some long process of approval. I need something where approval is quick and easy, if there is such a thing.

Your thoughts?

[Trent]

There is such a thing! I went through this and was lucky to be told about something called a Merchant Cash Advance, or MCA. I approached Thinking Capital regarding this. It was really convenient and saved me from going crazy, I can tell you!

[Dean]

Can you tell me a little bit more about this please?

[Trent]

You have to repay your loan daily, but that’s OK because it is just small, manageable payments. It’s not one lump sum payment, which is more difficult, right?

Your repayment is based on your daily sales. So if you get low sales, you also make low payments. The thing I like about Thinking Capital is that they actually reward you for making lump sum payments.

When I submitted an online application with them, I just needed to include a few basic documents, which I already had anyway. If I recall, they gave me a verification call in less than an hour. If you are approved, which is generally the case, you could have your capital in a couple of business days. You should apply soon!

[Felipe]

The good news for people like you and me is that getting approved is much easier. This is partly because it is not based on your credit score.

If you can manage it, then go for it! If you cannot, don’t worry. Just carry on with the daily payments based on your sales.

[Sharon]

If you are worried about your credit score, I can tell you to stop worrying. This is because an MCA doesn’t have a negative impact on your credit score. Both your personal and business credit scores will remain relatively unaffected.

[Dean]

Oh really? Why is that? If true, that could be really helpful for someone like me.

[Ariel]

An MCA is considered a cash transaction and not a credit-based loan. That’s why your personal or commercial credit scores do not really get a negative impact. In fact, if anything, you could pay off your current credit loans which can actually help your credit score.

[Nina]

A merchant cash advance is a really good financing option for a small business that needs cash fast because it is low risk. You don’t have to provide any collateral upfront.

This is not the case with collateral-based loans. I wish I had known about this a few years ago. It would have saved me from a lot of unnecessary stress!

[Stan]

If you don’t have a good credit score, you will worry about getting approved. Even though your credit score is a small factor, it is not the deciding factor.

In fact, you can have a bad credit score and still be approved. I know, because this was the case with me. I almost fell off my chair when I got approved!

[Author]

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