Going into business is scary enough especially your first one, but congratulations on doing what you need to do in order to get your life and a brand new business rolling. This is exciting and you should be proud of yourself. One of the things you need to know whether your business is in the fledgling stages which is typically under 3 years, that things come up and you’ll need money. Whether it’s working capital or the ability to repair or purchase things. This is really the scary part and you want to know why? Because the thought of a loan comes to mind fast. This means that there’s a bank involved right? Well, if this is the thought, have no fear because we’re going to introduce you to Merchant Cash Advance, an option that’s so simple you won’t believe it.

Read More: Procedures in Getting a Cash Advance for Your Business

What is a MCA First Cash Advance?

What this means is we’re explaining what you do to in applying for a first cash advance specifically with a Merchant Cash Advance company. These companies are among the easiest for people to get that meet the criteria. The requirements are listed below so that you can tell whether you would be a fit for this type of loan.

  •    Longevity of Business: You’ll want to be in business for at least 6 months to 1 year depending on the lender, this is the minimum length of time in business.
  •   Proof of Sales: You’ll need a consistent volume of $10,000 in credit card sales each month and you’ll have to present bank statements and or credit card statements that reflect that. They must be consecutive.
  •   Completed Application: This takes less than 30 minutes and that’s saying a lot. This is a one-page online form that you can complete at home.

The first cash advance is simple if you meet the above requirements. Now, this is what happens next. When you submit the application initially, you won’t need the other stuff yet but do have all your statistics in order so you won’t have to do a lot of scrambling around when they contact you. Get that all done before you even start the application because you may need some of that information available at that time. The broker will receive your application right away and begin to work on it. They may contact you within 24 hours or before for more information or clarification of a question if needed. It’s not typical that they take longer than 24 hours. Make sure you are answering the phone and checking email, whichever way you told the brokerage that you prefer to be contacted. Once the broker calls you, do as they instruct if they need anything else. The broker will then give you a list of MCA first cash advance companies to choose from and will be there with any question you have.

Read More: Where to Get a Business Loan in 2017

This process is simple and if you’re organized with a business that has the requirements above then you are good to go. Nothing else is needed other than you making that contact and starting your business life on the right foot.