Merchant Cash Advance

A merchant cash advance (MCA) offers a unique financial solution for businesses looking to install commercial solar systems. One of the key advantages of an MCA is its customization to suit specific business needs. This means that a business can tailor the amount and usage of the funds based on their particular requirements for solar installation, without worrying about compounding interest, as MCAs do not involve traditional interest rates. Instead, repayment is tied directly to the business’s sales, making it a flexible option during periods of variable revenue. Additionally, the ability to use the funds for any purpose—not just for the equipment but also for related expenditures like installation and maintenance—makes it a versatile option for businesses aiming to go green.

The process to apply for a merchant cash advance is straightforward, particularly when the funding requirement is under $250,000. Applicants are typically required to fill out a funding application and provide the last three months of business bank statements. This minimal paperwork expedites the approval process, enabling businesses to act quickly on their solar installation plans. This ease of access to funds is especially beneficial for businesses looking to capitalize on renewable energy incentives that may be time-sensitive.

Qualifying for a merchant cash advance is accessible for most businesses, even those relatively new to the market. The basic qualifications include having at least three months of operational history and achieving $60,000 in annual gross sales, with no minimum FICO score required. This opens the door for a broad range of businesses to secure funding from as little as $10,000 up to $5 million with flexible terms. Moreover, the promise of same-day funding ensures that businesses can commence their solar projects without delay, enhancing their energy efficiency and reducing operational costs promptly.