The Merchant Cash Advance (MCA) industry has grown significantly over the years, providing quick capital to businesses. Several key players have emerged as leaders in this sector, offering diverse funding solutions. Below is an overview of major MCA companies and their contributions to the industry.
List of Leading MCA Lenders:
1. Kapitus
Kapitus is a leading alternative lender providing quick and flexible financing solutions for small businesses since 2006. They offer various funding options, including small business loans, revenue-based financing, equipment financing, invoice factoring, SBA loans, and business lines of credit. Their fast approval process ensures businesses get funds within days, helping them manage expenses, invest in growth, and improve cash flow. Kapitus serves multiple industries with transparent terms and no hidden fees, making them a reliable choice for businesses seeking hassle-free financing.
2. Square Capital LLC
A subsidiary of Block (formerly Square), Square Capital was launched in July 2009. It provides MCA services tailored to businesses using Square’s payment processing system.
3. CAN Capital Inc.
Founded in 1998 and based in Kennesaw, Georgia, CAN Capital is one of the oldest MCA providers in the U.S., offering fast and flexible funding solutions.
4. OnDeck Capital Inc.
Established in 2006, OnDeck, now part of Enova International, provides MCA and term loan solutions. It is headquartered in New York. OnDeck Capital Inc. is a leading online lender providing fast and flexible financing solutions to small businesses. They offer term loans and lines of credit to help businesses manage cash flow, expand operations, and cover expenses. OnDeck’s term loans provide up to $250,000 with repayment terms up to 36 months, while their lines of credit offer up to $100,000, allowing businesses to draw funds as needed. OnDeck is known for its quick approval process, with funding available within a day. Their services are designed to be simple and transparent, making it easier for businesses to get the capital they need when they need it
5. National Funding
Founded in 1999 and headquartered in San Diego, California, National Funding offers a range of business financing options, including MCAs.
6. Rapid Finance
Founded in 2005, Rapid Finance operates under Rock Ventures. The company is known for its quick funding options for small businesses. Rapid Finance provides fast, flexible funding for businesses. They offer SBA loans, invoice factoring, asset-based loans, lines of credit, small business loans, and merchant cash advances. Loan amounts range from $500 to $10 million, with terms up to 30 years. Funding is available in as little as 24 hours, with easy applications and flexible repayment options.
7. Fora Financial LLC
Based in New York and established in 2008, Fora Financial specializes in MCAs and short-term business loans. Fora Financial LLC provides flexible funding solutions for businesses, offering up to $1.5 million in working capital. They specialize in equipment financing, allowing businesses to purchase or lease equipment without extra collateral. Their accounts receivable and invoice factoring services help unlock cash from unpaid invoices for better liquidity. Small business loans offer fast funding for expansion and operations, while revenue advances cater to businesses with fluctuating cash flow. Fora Financial also provides lines of credit, giving businesses ongoing access to funds as needed, with flexible repayment options.
8. Reliant Funding
Launched in 2008, Reliant Funding is a San Diego-based company that provides MCA solutions tailored to small and medium-sized businesses.
9. Fundbox Inc.
Founded in January 2013 and headquartered in San Francisco, Fundbox leverages AI-driven technology to offer MCAs and credit solutions.
10. Credibly Holdings LLC
OnDeck Capital Inc. offers fast and flexible financing solutions for small businesses, with funding available in less than 24 hours. They provide business lines of credit up to $300,000, offering stress-free access to revolving credit. Businesses only pay interest on the amount they draw, and the interest rates are lower than those of business credit cards. OnDeck also offers equipment loans for purchasing, repairing, or replacing equipment, as well as long-term business loans designed for established businesses aiming for growth. Their small business financing options are tailored to help businesses succeed and expand.
Credibly Holdings LLC, established in 2010, provides similar flexible capital options, including merchant cash advances, with offices in Michigan, New York, and Arizona.
11. National Business Capital & Services
Founded in 2007 and based in New York, this company helps businesses secure funding through MCAs and other financing solutions.
12. BFS Capital Inc.
Founded in 2002 and based in Coral Springs, BFS Capital offers MCAs and other funding solutions to small businesses.
13. biz2credit Inc.
Founded in 2007, Biz2Credit is headquartered in New York and has an office in Noida, India. It offers MCAs and other business lending options.
14. Par Funding
Established in 2013, Par Funding is based in Miami, Florida, and specializes in MCA solutions for various business needs.
15. Libertas Funding LLC
Founded in 2016 and based in Greenwich, Connecticut, Libertas Funding provides MCAs and revenue-based financing solutions.
16. Greenbox Capital LLC
Operating since around 2012, Miami-based Greenbox Capital provides alternative funding solutions, including MCAs.
17. Kalamata Capital Group LLC
Founded in 2013 and headquartered in Bethesda, Maryland, Kalamata Capital Group offers various funding solutions, including MCAs.
18. Perfect Alliance Capital LLC
Established in 2015 and based in Illinois, Perfect Alliance Capital provides alternative funding solutions for small businesses.
19. Advance America Capital Corp.
Founded in 1997 and based in Huntington, New York, this company has a long history in small business financing, including MCAs.
20. Swift Capital
Founded in 2006 in Wilmington, Delaware, Swift Capital specializes in MCA funding for small businesses.
Major Financial Institutions Offering MCA Services
1. American Express Company
Established in 1850, American Express introduced its Merchant Cash Advance facility in 2011 to provide working capital to businesses.
2. PayPal Holdings Inc.
Founded in December 1998, PayPal launched PayPal Working Capital in 2014, offering MCA solutions to businesses using PayPal’s payment processing services.
3. Stripe Capital Inc.
Founded in 2010 and based in Palo Alto, California, Stripe launched Stripe Capital on September 5, 2019, offering MCA solutions to businesses.
4. Lendio Inc.
Founded in 2011 and based in Lehi, Utah, Lendio is a marketplace lender that connects businesses with MCA providers.
Conclusion
The Merchant Cash Advance industry has seen rapid expansion, with numerous providers catering to small businesses. These companies have played a vital role in offering fast, flexible financing solutions, ensuring business growth and sustainability.