A merchant cash advance (MCA) can assist businesses in bridging cash flow gaps. It is a form of alternative financing in which a company pre-sells a percentage of its revenue against future sales. Many businesses have cash flow problems. To avoid bigger issues such as expansion opportunities and even bankruptcy, the company may seek alternative funding solutions to provide the additional cash injection required to keep the business going.
The owners of small businesses can apply for an MCA and receive an immediate cash payout relatively quickly. Businesses offer to pay the MCA provider back with significant fees. In exchange for allowing a percentage of their sales to be deducted from their bank account on a daily or weekly schedule, they gain access to the much-needed lump sum cash advance today. Unlike conventional loans, the MCA repayment schedule is based on a percentage of the merchant’s gross monthly revenue, so in the event of a decline in sales, the debits will be adjusted to align with the current income. Merchant cash advances are appropriate for a large number of businesses, including retail stores and restaurants that maintain a steady source of revenue. Whereas, MCA usually has a much higher cost of capital than other alternative financing options. These costs may cause some companies to enter a never-ending cycle if they must refinance into another business cash advance to pay back the debt, which can cause devastating cash-flow issues. Before considering a merchant cash advance, small business owners should consider alternatives such as a Revolving Line of Credit or SBA Loan. MCA companies are always searching to locate merchants ready to commit to their products. As a result, they seek assistance from respective MCA Brokers. An MCA Broker connects MCA Funders with small and medium-sized enterprises (SMEs) or merchants. MCA Brokers typically have strong persuasive skills along with an extensive background in corporate finance and other different kinds of financing. In most circumstances, these brokers use their expertise to find the right program to fit the merchants’ unique circumstances. One name buzzing in the merchant cash advance industry is Peter Risko.
In 2017, Risko entered Wall Street in the private equity sector with no experience or special connections. He overcame his adverse condition through trial and error and continued his hunt until he mastered the industry and created his multimillion-dollar empire with a 50+ agent sales team located on the 23rd floor in the Trump Building at 40 Wall Street. He has been known to think outside the box and with his laser focus and discipline, he became a self-made multimillionaire. Risko was able to achieve his end goals due to his relentless determination. He is widely known as an entrepreneur who outperforms his competition by implementing cutting-edge technology solutions in the New York City financial district.
After uncovering the secret to success, he created the MCA Broker Bootcamp, an online sales training course designed to provide future entrepreneurs with the life-changing opportunities that he was blessed to have throughout his journey in the merchant cash advance industry. His training course provides fresh entrepreneurs with a blueprint to successfully enter the MCA industry. The year 2022 proved to be difficult for so many industries, however, Risko helped keep the MCA industry a dominating force in performance and revenues.
Risko has been known to empower unlikely groups of fresh entrepreneurs ranging from high school dropouts, and ex-convicts to C – level executives to strengthen them with the power of knowledge through his platform. He was motivated to develop the training course to facilitate ordinary people to have the opportunity to provide a great life for their families. His prime objective is to help people become financially strong and stable.
As he progressed, he became the President of Fresh Start Capital, Inc., a company offering funding solutions to different organizations. The company is great for merchants looking to gain access to quick, hassle-free, same-day funding where the purchasing future receivables program is based primarily on the gross monthly income and not the owner’s credit.
As Risko continues to fortify the MCA Broker Bootcamp, he hopes to witness more up-and-coming entrepreneurs like him realize their full potential and meet the industry’s challenges head-on.