Cashless transaction process has revolutionized the world for both businesses and consumers in the last decade. With the new demonetization step by the government has promoted many businesses to shift towards cashless transaction using Point-of-Sale (POS) machine. Now to avail any service, the consumer can use POS machine for a cashless transaction. Every POS machine generates transaction slip, which can help you raise working capital. In Merchant Cash Advance, your monthly sales statement will help you to raise funds.
What is Merchant Cash Advance (MCA)?
A merchant cash advance is a financing option for small businesses using the plastic money for the daily business transaction. In MCA loan you will gain an upfront working capital in exchange for a percentage of Future POS machine sales revenue.
How different is Merchant Cash Advance (MCA) from other business loans?
Merchant Cash Advance depends on your daily business transaction through plastic cards. If you are trader or retailer looking to make infrastructural changes, seeking to increase your stock for the festive season, it’s beneficial to go for MCA. MCA will give you the benefits of fast loan approval and flexible repayment option.
How can I avail a Merchant Cash Advance?
THREE EASY STEPS to avail Merchant Cash Advance from TAB Capital Ltd.
- Complete the Online Application for Merchant Cash Advance.
- Scan the documents and upload them.
- Get the loan approved
At TAB Capital Ltd., we care for your business, so to help you facilitate business growth we provide easy and digital way to apply for merchant cash advance. The loan will be disbursed within two working days, and we give you an easy repayment option.
Features of Merchant Cash Advance
- Loan amount ranges from minimum Rs.1 lakh to maximum Rs 1.5 Crores
Traditional banks are not generous enough to provide small retailers with loans up to 1.5 crores on simple POS machine statements. Here at TAB Capital Ltd, we have high loan approval rate, where every business gets a fair chance to avail a loan.
- No Collateral Security
At TAB Capital Ltd., we trust our customers to the core. You just have to provide us with 6 month POS machine transaction statement.
- Higher loan eligibility
We provide high loan eligibility compared to other financial Institutions.
Benefits of Merchant Cash Advance
- Quick Approval for a loan
Loan amount up to Rs 1.5 crores is approved and disbursed within 2 business days. This is the best aspect of merchant cash advance; wherein you don’t have to wait for months to obtain a merchant cash advance.
- Repayment depends on the business revenue
Typically, loan repayment duration is decided by the amount lent, but in a merchant cash advance, your business revenue determines it. You will get flexible repayment options – daily, weekly, and fortnightly as per business model requirement.
Eligibility for Loan
- Annual business turnover equal to Rs. 15 lakhs or more.
- Business stability for one year.
- Minimum Six months of POS transaction and one year of bank statements.
- KYC Documents.
- Income Documents: – Last 2 years ITR, Computational Sheet, Balance Sheet, and Profit & Loss accounts. (Applicant, Co-Applicant and Firm)
- Last one-year bank statements of POS machine transaction.
- Details of all existing loans.
- Brief profile of Company/Firm and Promoters.