Top Merchant Cash Advance Companies for Quick Business Funding 2024

These companies can help your business access funds quickly by borrowing against future sales.

A merchant cash advance (MCA) allows you to get a lump sum for your business, which you repay using a percentage of your future sales. While different companies may call it by various names, the structure is the same: after receiving the funds, the provider deducts a fixed percentage of your debit and credit card sales, or an amount based on estimated monthly revenue.

If you're considering a merchant cash advance, it’s important to explore your options. MCAs can be costly, so finding a reliable provider with fair terms is crucial.

The Fund Scope has compiled a list of the best merchant cash advance companies for different needs to help you find the right option for your business. (See our methodology to learn more about how we selected the top MCA companies.)

1. Rapid Finance

Rapid Finance is an excellent option for startups and businesses with bad credit, as it requires only three months in business and a minimum personal credit score of 550.

Rapid Finance provides merchant cash advances up to $500,000, with factor rates starting at 1.22. The application process is straightforward and can be completed online, with funding available in as little as 24 hours.

To apply, you'll need the following documents:

• Government-issued photo ID

• Voided check from your business checking account

• Last three business bank account statements

• Last three credit card processing statements

While Rapid Finance may have slightly higher costs compared to some competitors, it offers speed, flexibility (with daily or weekly payment options), and is a strong choice for those unable to qualify for other types of loans.

In addition to merchant cash advances, Rapid Finance also offers short-term loans, lines of credit, and other financing options, which could provide the ideal solution for your funding needs.

2. CAN Capital

CAN Capital is a solid option for startups with at least six months in business and businesses with bad credit, as there is no minimum credit score requirement. Although they offer lower advance amounts compared to Rapid Finance, their flexible requirements make them a suitable choice.

CAN Capital offers merchant cash advances of up to $250,000, with factor rates ranging from 1.15 to 1.48. They also provide short-term loans for added flexibility. Note that CAN Capital charges a $595 administrative fee for all MCA products.

Repayments for CAN Capital MCAs are required daily, and most customers take between six to 18 months to repay the advance. Funding is quick, with money typically available within two business days.

The application process is simple and can be done online with minimal paperwork, allowing you to receive funds as soon as the next business day after approval.

3. National Funding

National Funding is another merchant cash advance provider worth considering, offering advances up to $250,000 with automatic daily repayments. They are among the fastest MCA companies, with same-day approvals and funding available in as little as 24 hours.

To pre-qualify with National Funding, your business must have been operating for at least one year and have monthly credit card transactions over $3,000—making them a good choice for businesses with lower revenue volumes. The process is simple: fill out an online application and submit the last four months of credit card processing statements.

National Funding’s factor rates range from 1.17 to 1.36, putting them on par with CAN Capital in terms of cost.

4. inFundz

inFundz stands out for its unique underwriting approach, which looks beyond traditional credit scores to assess the true potential of your business. By combining advanced data analytics with a deep understanding of real business dynamics, inFundz evaluates businesses based on revenue, cash flow, and growth potential, rather than just a credit score.

inFundz is known for providing funding to businesses that have been declined by alot of the other lenders on this list, including those with bad payment histories or past defaults. With inFundz, businesses can access funding ranging from $5,000 to $500,000, making it a great option for those who have been overlooked by other MCA companies lenders.

Their AI-powered underwriting system analyzes 8,000 data points per second, allowing for rapid funding decisions and providing quick access to the capital your business needs. With innovative funding solutions tailored for growth-oriented businesses, inFundz is committed to helping companies realize their potential when other lenders say no.

5. Kalamata Capital Group

Kalamata Capital Group has slightly higher qualification requirements compared to other merchant cash advance providers on our list, but they offer competitive factor rates starting as low as 1.12. If your business meets their criteria—at least one year in operation, a credit score of 500, and $250,000 in annual revenue—you could access a more affordable MCA than many other options available.

Kalamata also provides larger advances, with funding amounts up to $500,000. To apply, you can connect with one of their three U.S. locations.

According to their website, Kalamata Capital Group can approve financing in as little as three hours, making them an excellent choice for businesses in need of fast funding.

6. Libertas Funding

Libertas Funding stands out for offering the largest merchant cash advance amounts on our list—up to $1 million.

To qualify for an MCA from Libertas, your business needs to have been in operation for at least six months, with a minimum credit score of 550 and annual revenue of $150,000. The application process is simple and can be completed online, with decisions typically provided within 24 hours. Once you accept an offer, funds can be deposited in your account within 24 to 72 hours.

Libertas provides flexible repayment options, allowing for daily or weekly payments, with repayment terms ranging from three to 12 months. The company charges a 3% administrative processing fee and applies factor fees that vary based on your business qualifications. They also offer prepayment and loyalty discounts for added savings.

Overall, Libertas is a great choice for quick access to larger MCA amounts, making it particularly suitable for businesses needing significant funding.

The Bottom Line

If your business needs quick cash, a merchant cash advance (MCA) might seem appealing. These companies can provide capital in just a few days, with repayment that adjusts based on your sales.

However, it's crucial to keep costs in mind—MCAs can put pressure on your cash flow and may negatively affect your long-term financial health. Always consider if more affordable financing options are available before choosing an MCA.

If an MCA is your only option, make sure you work with a reputable provider—like the companies we’ve discussed—and carefully review all terms, conditions, and fees before signing any agreement. Being informed will help you make the best decision for your business's future.