Do MCA Offers Expire?
Yes, and often quickly. Offers are based on your statements as of a certain point, so funders usually give a short window. If new deposits, overdrafts or another advance show up, the offer can change. Ask how long the offer is good for, get it in writing, and don't let the window rush you past reading the contract.
What can change an offer before it expires?
- A new month of statements that looks weaker.
- An advance you didn't mention.
- Overdrafts or returned payments.
- Verification that doesn't match the application.
Is there a state rule worth knowing?
In Connecticut, a provider can't revoke, withdraw or change a specific offer until midnight of the third calendar day, except based on underwriting or at your request.
How do you compare offers before they lapse?
Put every offer into the offer comparison tool the day it arrives.
How long do MCA offers last?
Most written offers hold for a few days to a couple of weeks, and the offer states when it ends. The price holds only while the file still matches. New statements with lower deposits, or a new advance on the account, reopen the numbers.
What should you do when an offer is about to lapse?
- Ask how many days the offer is good for and what would change it.
- Line it up next to your other offers with the offer comparison tool.
- Ask questions in writing and keep the answers.
- Don't let a deadline push you into signing something you haven't read.
If an offer lapses, it can often be reissued on fresh statements. The terms can change a little in either direction, depending on how the business did since.
What should you ask the funder?
- How long is this offer good for?
- What would change it?
- Can you hold it while I compare?
- Will the contract match the offer exactly?
Where can you check your own numbers?
The short version is in the Offers FAQ. To check the numbers on your own advance, use the offer comparison tool.
Where do these facts come from?
Want a second look at your advance?
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.