So merchant cash advances were all the rage a couple years ago, a lot of people were signing up as merchant cash advance brokers and there were a lot of lenders that got into the merchant cash advance space. What I am going to talk about today is even better than a merchant cash advance. It is the new MCA of 2023 and beyond, and that is an instant cash advance broker opportunity.
Instant Cash Advance Broker Opportunity
Now these are not available anywhere else but through our company. It is a very exciting time. Clients can get funding in as little as eight minutes. It is a completely automated application.
So you don’t have to do any of the underwriting. All you have to do is share the link to the application. In fact, our application will redirect the client to the specific loan program that we offer that meets their requirements, depending on their answers on the application.
So the application takes a couple of minutes and then the client can see if they get the pre-approval amount and they can decline it or accept it with the instant cash advance.
This is basically geared towards the gig worker, the independent contractor, the self employed, and what makes this even better than a merchant cash advance is your client only needs a personal checking account.
Instant Cash Advance Requirements for Client
They only need to be doing $3000 a month with their business the last three months and making four business deposits a month into their checking account.
Those are pretty much the requirements. The other great thing about Instant Cash Advances is you do not need a FICO score. It’s not based on your FICO. You do not need collateral, if this is based on revenue. So if they’re doing steady income for the last three months of 3000 or more, making those four deposits, then you can have a heyday promoting this.
This opens up 80% of the clientele that got declined in the past because they didn’t have a business checking account. Now that we have this instant cash advance where you can use a personal checking account to get funding, it opens up 80% of the market.
Instant Cash Advance Market for Brokers
There are over 60 million independent contractors in America. This is a huge market. I have already generated 900 leads in the last three weeks. I am using TikTok and I am basically shooting a 30 second TikTok with the requirements in the video and then saying click the link in my bio or go to micro loans 123 dot com. That is all I am doing right now.
I am doing YouTube videos. As you can see, if you look back on my previous videos, I am targeting Uber drivers, DoorDash drivers, anyone who is an independent contractor who gets a 1099 at the end of the year can qualify for this.
Instant Cash Advance Broker Opportunity Income
So you know you can still go after trucking companies, restaurants, anyone who is getting those four deposits a month. We pay monthly on this, Whereas before (with MCA loans) we paid weekly. With instant cash advances, we get paid on the 15th and we get paid 70%. We get three to 6% of 70% of the total funding.
So if you secure a $5,000 Instant Cash Advance, you are going to get paid three to 6% on 70% of $5,000. I know it is a little complicated, but these will add up. I figure that the commissions are 20 to $200 per funding. But like I said I have gotten 950 applications.
This is blowing up so many business owners do not have a business checking account and they need fast funds. In fact this is available 24/7 cents it is completely automated. They can get their money 24/7 and you can sign up for free. Watch the training and let’s rock and roll!