For many small businesses in the US, financing day-to-day operations has never been more difficult. With rising costs of real estate and labor wages, many businesses find difficulty managing their cash flow and are looking to alternative sources of capital like a Bank of Cardiff Merchant Cash Advance (MCA). Unlike traditional merchant financing, MCA are a lump sum advanced to the merchant, based on future percentage of top-line revenue. Our MCA product is calculated on the basis of a merchant's most recent reported revenue, as evidenced on either their monthly bank statement, or credit card processing statement.
When compared to a traditional bank note, an MCA is a steadfast financial alternative that can be approved in minutes, not hours or days. Additionally, only minimal financial disclosure is required by the merchant and guarantor.
WHAT YOUR BANK OF CARDIFF MERCHANT CASH ADVANCE CAN BE USED FOR:
BENEFITS TO THE MERCHANT:
- Minimal documentation and financial disclosure required
- Streamlined process where approval can take only a few hours
- Receive funds in as little as 24 business hours
- Over 67% of MCA agreements are renewed for larger approvals and extended terms
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