We have a big announcement! Starting this year, our product will now be known as Revenue-Based Finance, and we will be moving away from the term Merchant Cash Advance (or MCA).
Some may be wondering why we are making this change, so we’re popping on here to offer a brief explanation.
Not only is the term Revenue-Based Finance in alignment with new and developing industry standards, but it is also more descriptive of what our product truly is. While many financial products charge a fixed number each month, our product is based on your revenue – so as your sales fluctuate, your payment amounts can fluctuate, too. This means more flexibility in repayment and more room to breathe.
At the end of the day, there are no changes to the product details other than the change in name. We just wanted to post this memo, as many may be accustomed to the old term, Merchant Cash Advance.
If you have any questions, comments, or concerns, you can simply submit our contact form to let us know. Thank you!