How Do I Check the Balance on My Merchant Cash Advance?
Ask the funder's servicing team for your current balance and payment history, in writing. Many funders also have an online portal, and you can track it yourself by subtracting each debit on your bank statements from the purchased amount.
Where do you get your MCA balance?
Your contract names the funder and usually lists a servicing contact. Call or email them and ask for the remaining balance and a ledger of payments collected. Ask for it by email so you have a dated record. If the funder has a merchant portal, the balance should appear there, updated as payments clear.
How do you work out the balance yourself?
Start with the purchased amount on your contract. Subtract every payment the funder has collected, which you can find on your bank statements. Add back any payments that were returned. The result should match the funder's balance, give or take a payment in transit. If it doesn't match, ask the funder to walk you through the difference.
What changes the balance?
- Returned payments, which leave the balance higher than expected.
- Fees under the contract, like a returned payment fee.
- Reconciliation adjustments, which change future payments but not the total owed.
- Extra payments you made.
- An early payoff discount, if you're paying off within the window.
Why check the balance regularly?
Mistakes happen. A funder occasionally posts a payment late or applies a fee you don't agree with. Catching it early makes it easy to fix. Knowing your balance also helps you plan a renewal, a payoff or a refinance on your terms rather than the funder's.
Is the balance the same as the payoff amount?
Your balance is what's left to deliver under the contract. A payoff amount is what the funder will accept to close the account today, which can be lower if you qualify for an early payoff discount. When you ask, be specific about which one you want.
Why keep a record of every balance request?
Note the date, who you spoke with and what they said. If a question turns into a disagreement later, a clear record makes it far easier to resolve.
How do balances work on a split payment?
If your advance is repaid through a split of card batches, your bank statement won't show the payments directly. Ask your processor for a report of the amounts sent to the funder, or ask the funder for its ledger. The processor's report is often the fastest way to confirm the running total.
How do you track more than one advance?
If you're carrying more than one advance, track each balance separately. Funders don't share ledgers with each other, and a combined view is something only you and your bookkeeper will keep.
How can Afterfirst help with this?
If your advance came through us, call 877-FUND-654 and we'll help you get an up to date balance and a payoff quote from the funder. If you're considering a renewal or consolidation, we'll use that balance to show you the real net new cash.
What else do owners ask about this?
- Can I make extra payments on my merchant cash advance?
- What happens when I finish paying off my MCA?
- Does an MCA have principal and interest?
More short answers on this topic are on the after you're funded FAQ, and the MCA early payoff calculator runs the numbers for your own file.
Have a question we didn't answer?
Ask us on the call. Call 877-FUND-654 with any question. We call you back, usually the same business day, and we always talk with you before we shop your file.