Two kinds of Irvine business, two answers
A merchant cash advance, as a category, is repaid from a share of receipts, usually daily or weekly. Irvine has a strong base of consumer-facing business that fits that pattern: restaurants, cafes, salons, fitness studios, retail and personal services serving a city of 307,670 residents, with students and staff from UC Irvine, Concordia University, Irvine Valley College and other campuses in town.
It also has many businesses that sell to other businesses, in a city with technology and semiconductor headquarters. They invoice, and money arrives in lumps. For those, a daily remittance is a poor match; a line of credit or revenue-linked repayment generally fits better.
Quick self-test
| If most of your revenue is... | Then an advance is... | Also look at... |
|---|---|---|
| Card and cash sales every day | Naturally matched | The remittance vs. your slowest week |
| Invoices paid at 30 to 60 days | A poor match | Line of credit |
| Seasonal, such as campus or event traffic | Matched in term, awkward in break | Revenue-based financing |
| A single large contract | Not designed for it | Term loans |
Campus rhythm: an illustration
For illustration only, an Irvine cafe near a campus sells about $1,800 a day during the semester and about $900 during a break. A fixed daily remittance of $250 is 14% of a semester day but 28% of a break day. A cafe that borrows in September can feel comfortable until December. The figures are round examples, not our terms.
Ask for the total repayment, how often money leaves your account, what fees come out of the advance, and whether you can repay early. If you already hold an advance, see Irvine MCA relief.
Reading your own deposits first
Before applying, look at three months of statements. Count how many days your deposits fall below your average daily costs. Note whether large deposits come from card sales or from invoices. If most come from invoices, a daily remittance will feel heavy. If most come from card sales, it will feel natural. A short review like this tells you more about fit than any general description, and it is the same information the application reads. Also consider timing. If you take an advance ahead of a busy period, such as the start of a semester, work out what happens to the remittance if the rush is smaller than expected. Keep a small buffer, and avoid taking a second advance on top of the first to cover the first.
Applying
We fund $25,000 to $5,000,000, with funding in as little as 24 hours after approval. FICO 500+ is considered, about three months of business bank statements are needed, and no tax returns are required. The five-minute application uses a soft credit pull; sole proprietors can apply. Apply when ready. See also Orange County.