Frequently asked questions
What is a MCA & ACH Advance?
It is typically a short term unsecured cash advance that is paid back on a daily or weekly basis to the lender, based on advances from the revenue that the business generates.
What is the difference between an MCA or ACHA and a tipical loan?
The lender is purchasing future sales or receivables. In contrast to traditional loans, which require favorable credit scores and a period of time to have your loan approved. These type of "loans" aren’t credit-score driven and funding can take place in less than 48 hours in most cases.
What are the benefits of a MCA & ACHA
Can I apply for additional funds if I’m already a client?
Yes, additional funds may be advanced to you based on your payment history and remaining balance on your current business advance.
How much time am I given to repay my MCA?
We estimate repayment terms from 1 month to 18 months. Because this is a business advance and not a loan, the term is not set in stone, and we get paid as you get paid.
How does a typical business need in order to get approved for a loan at JIG?
- At least $50,000 annual sales