Why Business Loan Brokers Must Offer MCAs

As a business loan broker, it's important to be able to offer a range of funding products to your clients. One such product is the Merchant Cash Advance (MCA), which has gained popularity over the years due to its quick processing time and lack of traditional qualifying criteria. But why should you as a business loan broker offer MCAs to your clients? In this blog post, we'll explore the benefits of MCAs, the factors that lenders look for when considering MCAs, and why it's important to process MCAs in-house.

1. Understanding MCAs

MCAs are a revenue-based funding product that allows business owners to receive an advance on their future revenue in exchange for a percentage of their daily sales. Unlike traditional loans, MCAs don't have strict credit score or time-in-business requirements, making them a viable option for business owners who may not qualify for other funding products.

2. Benefits of MCAs

One of the main benefits of MCAs is their quick processing time. Business owners can fill out an application in the morning and receive funding within 24 to 48 hours, making MCAs a great option for businesses in need of urgent funding. Additionally, MCAs don't require collateral, making them accessible to a wider range of businesses. Lastly, MCAs can be a good option for businesses with credit challenges or those that haven't been in business for very long.

3. Why Loan Brokers Must Offer MCAs

As a loan broker, it's important to be able to offer a range of funding products to your clients in order to maximize your profits. MCAs are a revenue-based funding product that can offer loan brokers high commissions, making them a valuable addition to a broker's product portfolio. Furthermore, processing MCAs in-house can ensure that brokers maintain control over the funding process and can offer their clients faster turnaround times.

Conclusion:

In conclusion, MCAs are a valuable funding product for businesses in need of quick funding without the traditional qualifying criteria of traditional loans. As a loan broker, offering MCAs can not only provide additional revenue streams but also help you better serve your clients by offering a wider range of funding products. By understanding the factors that lenders consider when approving MCAs and processing them in-house, you can ensure that your clients receive the funding they need in a timely and efficient manner.

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