Frequently Asked Questions
About Your Funding
How fast I can get the funding?
Within a few hours to 1 day after offer acceptance!
Do you fund all business categorie?
Yes, we have so many options that enable us to fund every business category.
On what is your funding based?
Each fast loan/advance is considered and based on your bank statements, cash flow, and partially on your credit. If you have better credit, you may qualify for lower rates; however, if you have no credit or poor credit, you will still be able to get funding. Each loan rate is calculated based on the risk factors that we derive from your bank statements.
How much funding can I get if I make $20k per month?
You can get up to $60k with some options for an even higher amount if your credit and other factors are very good.
I already have a loan balance open, Can I still get more money?
Yes! We can fund multiple loans/positions after each open loan you received.
What happens if I want to pay early?
You will not be charged any pre-payment penalty, and for large amounts, one can receive a discount for paying off an owed balance early!
Do I need to provide any personal guarantee or collateral?
Can I get multiple loans from different lenders with one request?
My credit is bad and I had some other issues. Can I still be funded?
You must have a consistent income of at least $5k per month.
What is reverse consolidation
We are paying you all your open loan payments before payment is due to help save you between 25%-35% of your daily or weekly payment!
What is the funding process from start to finish?
Our automated application process is simple and can be completed in just a few minutes. Once that is complete and bank statements have been submitted, you will begin to receive offers from fast loan lenders as early as within the next hour! After you choose an offer and sign a contract, the funds are wired to your account in under 24 hours.
How do I pay back the loan?
There are several re-payment plans, depending on your preferences and business type: daily, weekly and monthly ACH payment options, as well as credit card split, and lockbox options. One of the more common methods is paying back over time by taking a portion from the credit card payments that you process. That way, there is no pressure at the end of each month, and you can pay back over time from the money that your business makes.
What make your company different than the others?
We are one of the largest fast loan marketplaces for this product, hence, providing so many funding options individual lenders cannot provide!
Do you help me choose the best loan offer?
Yes, we are fully involved in any request and assist you to get your cash quickly from the start until the money is in your business account!
Do you keep my information private and secured?
Yes. We always ensure your information is 100% secure and stays only within our system.
Can your platform can give me other non fast loan options if
Yes, we can provide many other types of non-fast loan options, depending on your needs.
Is MCAGenie a direct lender or a broker?
We are a fast-loan marketplace - not a typical broker. We analyze and enter your information into our system so you can review multiple offers in the shortest amount of time, with the best rates possible.
We do not just send your information to a lender.
What is the advantage of your Secure Fast Loan Marketplace over
a direct lender?
As a Fast Loan Marketplace System, we can ensure that your credit score is as safe as possible. Additionally, we will obtain multiple offers for you - which in a sense makes the lenders compete for your business and drives your rates down. Lastly, we offer an individually-tailored approach with the customer’s best interest in mind. We customize each deal to meet the client’s needs, industry, and setup for the best rates and deals.