Can I Get an MCA Quote Before I Send Bank Statements?
You can get a rough range on the first call, based on what you tell us about your monthly deposits, but a real quote from a funder only comes after they read your bank statements. Any company that gives you a firm number without seeing statements is guessing.
Why do the statements come first?
A merchant cash advance is sized on what your business deposits and how steady those deposits are. A funder reads the statements to see average monthly revenue, average daily balance, returned items, days the account went negative and any existing advance payments. Those details move the offer more than anything you say on a call. So when you ask what you qualify for, we'll give you an honest ballpark based on your numbers, and then tell you what pushes it up or down once a funder reads the file.
What can Afterfirst tell you before statements?
- Whether your industry, time in business and deposit level fit funders in our network.
- A rough idea of how funders tend to size an offer against monthly revenue.
- How an existing advance on your account changes the picture.
- Which of the five services we offer fits what you're trying to do.
Why be wary of an instant number?
Websites that promise an exact amount after a few clicks are collecting your information, not quoting you. A real offer names the funder, the purchased amount, the purchase price, the specified percentage or payment, and the fees. If what you have doesn't have those pieces, it's an estimate and nothing more. Our own tools on the site let you run the math yourself. They're a good way to see what a payment looks like before you talk to anyone.
Why do estimates move?
The ballpark we give you on the first call is honest, but it's built on what you tell us. Once a funder reads the statements, three things tend to move it. The first is the monthly average, which is sometimes lower than an owner remembers once transfers and loans are left out. The second is the daily balance, since an account that hovers near zero reads as tight. The third is existing advance payments, which reduce how much new payment the business can carry. None of this is a reason to hold back. It's a reason to send clean statements early, so you're looking at real numbers from real funders instead of guesses from anyone.
How can you check your own range?
Before you call, add up the deposits on your last three statements and leave out transfers from your own accounts. That number, divided by three, is close to the monthly revenue a funder starts from. It's the fastest way to set your own expectations.
How can Afterfirst help with this?
Call 877-FUND-654 for a straight ballpark on the first call. When you're ready for real numbers, send your recent business bank statements and we'll bring back actual offers, usually the same business day your file is complete.
What else do owners ask about this?
- What's the difference between an MCA approval and an offer?
- Can I apply for a merchant cash advance from my phone?
- Why do funders ask for my ID, a voided check and proof of ownership?
More short answers on this topic are on the applying FAQ, and the funder fit checker 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.