Can I Get an MCA If I Live in a Different State Than My Business?
Yes. Owning a business in one state and living in another is common, and funders handle it routinely. They'll want to know who runs the business day to day and will verify both your home address and the business location.
Why does a different home state come up?
Funders want confidence that the business is actively managed. An owner in another state raises a simple question: who opens the doors and handles the money? If you have a manager on site, a partner or a staff that runs operations while you oversee from a distance, say so. That answer usually settles it.
What gets verified?
- Your home address, through your ID and a utility bill or similar document.
- The business address, through filings, a lease or a site check.
- Who has access to the business bank account and who signs.
- Contact details for the on site manager, if a funder wants to confirm operations.
Which state's rules apply?
Your contract usually names a governing law and a venue, often the funder's home state. Separately, some states have commercial financing disclosure laws that apply based on where the business is located. Neither usually changes whether you qualify, but it's worth knowing which rules the contract points to. Ask us, or ask your attorney, if you're unsure.
What if you own businesses in several states?
If you run locations in several states under one entity, the funder reads the combined account. If each location is its own entity, each one is its own file. Tell us which entity you want to fund.
How do remote owners handle the verification call?
The verification call works the same from anywhere. Make sure the phone number on the file reaches you directly and that you're ready to confirm the business details. A remote owner who knows the numbers cold makes a strong impression.
Do taxes and registrations matter?
A business operating in one state while the owner lives in another sometimes has registrations in both. Funders don't need your whole tax picture, but the business should be registered where it operates and in good standing there. A quick check with the state's business search confirms it.
How do you keep the mail flowing?
Funders send notices to the addresses on the contract. If important mail goes to a business address you rarely visit, arrange for someone to check it or use an address where you actually receive it. Missing a notice about a payment change is an avoidable problem.
How can Afterfirst help with this?
Call 877-FUND-654 and tell us where you live, where the business is and who runs it day to day. Send the business statements, and we'll present the file so the distance reads as normal, which it is.
What else do owners ask about this?
- Why would a funder call my landlord or visit my business?
- What is a venue or forum clause in an MCA contract?
- Can I get an MCA if most of my revenue comes from one customer?
More short answers on this topic are on the your business and your file 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.