Merchant Cash Advance – A Reliable Source of Funds for your Business Needs

  HOUSTON, TX - 01/24/2017 (PRESS RELEASE JET)

Businesses whose loan applications have been turned down by banks can now obtain instant cash by way of Merchant Cash Advances. Merchant Cash Advances (MCAs) are loans that are given to businesses that more than an year old and have a reasonable amount of credit card sales transactions per month. The criteria however might vary from one lender to the other.

A Merchant cash advance is an advance that is given against a portion of your future credit card sales volume. They don’t involve any collateral. Unlike the other types of loans MCAs do not have a repayment schedule. There are no fixed monthly payments that you have to make. Every time you have a credit card sales transaction, a percentage of the amount gets automatically credit into the lender’s account.

MCAs are easy to qualify since the restrictions are minimal. A bank statement for the previous three to six months is the only documentation that would be needed in order to qualify for a Merchant Cash Advance. Most MCA lenders operate online, which makes it easy for any business to take advantage of such a cash advance, within the shortest span of time. It usually takes anywhere between a half hour to about a day for an MCA application to get approved.

The maximum amount that you can get as a merchant cash advance will be decided by the lender after analyzing your bank statement and your credit card sales transactions. The amount will usually be 80 to 150% of your monthly average credit card sales. This might however vary depending upon the financial strength of the lending firm.

As against interest in other types of loans, MCAs have something called cash advance factor. This could be anywhere between 1.09 and 1.50. This factor is multiplied by the advance amount that you borrow in order to find out how much you need to repay. For instance, if you have borrowed $100,000 at a factor of 1.15, the amount you will have to repay would be $100,000 * 1.15, which is $115,000.

MCAs are usually short-term with repayment terms starting from 3 months to about 15 months. The APR is calculated after taking into consideration this repayment term and the cash advance factor. When compared to regular business loans, the APR here is much higher, as these advances can be obtained easily and quickly, irrespective of the credit score.

The percentage rate of the revenues that you pay to the MCA lender is usually referred to as the retrieval rate. This retrieval rate could be anywhere between 8 and 13% of your credit card sales. It will be deducted on the basis of split processing with the card processing company. There are MCA lenders who also work on the basis of bank account debits. In such an advance a fixed amount from your bank account would be debited on every business day until you pay back what you owe.

Heritus Marketing Group is a business that is into supplying Merchant Cash Advance Leads for MCA lenders who are on the lookout for potential clients or borrowers. These leads contain all details of businesses that qualify for Merchant Cash Advances. They can be filtered according to the specifications of the lenders, in terms of demography, monthly credit card sales turnover, etc.

Alternatively, lenders can also opt for Merchant Cash Advance Live Transfer Leads and Merchant Cash Advance Real Time Leads. These are leads that are generated on the basis of the specifications received by the client. Not only are they personalized they are also absolutely exclusive to the particular client. Since these leads have not been contacted by any other MCA lender, they offer higher chances of conversion.

“We have years of experience and expertise in lead generation,” says Himanshu Tripathi, founder member of Heritus Marketing. “We have proven strategies and techniques in place to give our clients exactly what they want. We doubly verify the details of each and every lead before transferring the same to the client. The chances of these leads getting converted are very high.”

Heritus Marketing Group sources its leads from authentic sources such as public records, media sources and aged internet sources. Apart from these Heritus makes use of online questionnaires to generate leads according to the exact specifications of its clients. To improve the business of Merchant Cash Advance lenders, Heritus can provide a steady stream of Merchant Cash Advance leads on a consistent basis.

“Giving our clients what they need is our specialty when it comes to lead generation,” says Jeff Soderstorm, Business Development Manager atHeritus Marketing Group. “We make sure the leads we generate are genuinely interested in borrowing merchant cash advances from our clients. This reduces wastage of time and efforts, eliminating the chances of the leads getting annoyed at being called by our clients. These leads will however need to be contacted as soon as the details are received by the client. By doing so, the client will be able to easily convert them into his borrowers.”

Heritus has a team of dedicated and skilled professionals who are committed to give its clients what they want. After thoroughly understanding the client requirements, these team members come up with a set of questions, the answers to which will give them the perfect lead the client is looking for. The details given by the lead are verified by Heritus before the lead is transferred to the client. This will help the MCA lender save time and efforts, improving his chances of conversions.

“We have noticed that many MCA lending firms waste a lot of time on prospecting their customers through cold calling and telemarketing,” says Himanshu Tripathi, the founder and promoter of Heritus Marketing Group. “By purchasing exclusive and personalized Merchant Cash Advance Leads from us, they can save that time and use it profitably in coming up with effective marketing strategies that help in converting these prospects into customers.”