A simple solution for those who prefer fixed payments.
Advantages of the Term Loan
You know the number of payments and the amount of that payment from the start.
You decide the length of the loan. Our terms range from 3 to 12 months
At least 6 months in business and $10,000 in monthly deposits.
Payments are automatically debited from your business bank account via ACH. No need to worry about missing a payment.
Approval within 24 hours and receive funding in as little as 2- 3 days.
No Prepayment Penalties
We even offer discounts to clients who want to payoff early!
How it works
With some basic information from your business we estimate an approval amount
Funds are wired directly to your bank account within 2-3 days.
A fixed payment is automatically debited from your business bank account.
You don’t need to be fully repaid to access more funds. Plus, as an exiting customer the process is easier and faster!
Term Loan FAQs
To apply, there are only two requirements:
- Being in business for more than 6 months
- Having at least $10,000 in sales per month
Advance and Loan amounts range from $5,000 to up to $250,000 for new clients.
Loans have 3 to 12-month terms.
- Payments are fixed. Easier for budgeting and planning.
- Faster funding process. We don’t need to involve the credit card processing company.
- Easier to qualify. No minimum credit card sales.
The main difference between the Cash Advance and the Loan is that the Cash Advance has variable payments that fluctuate with the sales of the business while the Loan’s payments are fixed.
MCS places no restrictions on how you choose to use the money. Common uses include the purchase of inventory, purchase of equipment, remodeling, expansion, advertising, payoff debt and taxes. But it’s entirely up to you!