What documents are needed for an MCA application review?

An MCA initial review requires exactly two things: a signed 1-page application and 6 consecutive months of business bank statements. Tax returns, a business plan, a voided check, and photo ID are not required to submit — the last two are collected later, after an offer is accepted.

What documents do you need to apply for a merchant cash advance?

For initial review: (1) 6 consecutive months of business bank statements, (2) completed 1-page business funding application, (3) business license or formation documents. A voided business check and government-issued photo ID are requested later, during underwriting, after you accept an offer — not needed to apply. Some funders also request: processing statements if revenue comes primarily from card processing, tax returns for advances over $150,000, or a business debt schedule listing existing obligations.

How quickly can you get approved for a merchant cash advance?

Most MCA applications receive initial offers within 2-4 hours of submission during business hours. Same-day funding is possible for clean applications received early in the day. Next-day funding (next business day) is more typical. Weekend applications may wait until Monday for review. Complex profiles or large advance requests may take 24-48 hours.

Does applying for an MCA hurt your credit?

Some funders use a soft credit pull (no impact to credit score), others use a hard pull (small temporary impact, typically 5-10 points). Ask your ISO whether a specific funder uses soft or hard pulls before submitting. Having your ISO submit to multiple funders at once typically does not compound the credit impact compared to submitting sequentially — multiple hard pulls for the same type of credit within a 45-day window are typically treated as a single inquiry by FICO.

How long does it take to complete an MCA application?

The application itself takes 5–10 minutes. The primary time investment is gathering your documents: 6 months of business bank statements (the main document) plus a one-page application form. No tax returns, business plans, or balance sheets are required for most MCA programs.

Can I submit bank statements from multiple accounts for an MCA?

Yes, but funders prefer to see one primary business account that captures the majority of your deposits. Multiple accounts with split deposits can make it harder for underwriters to assess total revenue. If you have multiple accounts, consolidate deposits into one primary account 30–60 days before applying.

MCA Application Documents: What’s Needed to Apply

Section 1 — Required for Initial Review (All Funders)

Required 6 Consecutive Months Business Bank Statements

Complete statements — all pages — for the business operating account. Not personal accounts. PDF preferred. Underwriting reviews the 6 most recent consecutive months, with a minimum ending balance of $4,000+ each month. Must include: account holder name, account number, all transactions, NSF notations. Downloaded from online banking or requested from branch.

Required Completed Business Funding Application

One-page application collecting: business legal name, DBA (if any), EIN (Employer Identification Number), time in business, estimated monthly gross revenue, owner name, owner SSN (for credit pull), business address and phone. T.A.G. applications take under 10 minutes to complete online.

Required Business License or Formation Documents

Any one of: active business license, articles of incorporation/organization, certificate of good standing, or DBA registration certificate. Used to verify the business is legally registered and in good standing. Sole proprietors may use a Schedule C as evidence of business operation.

Required Credit Pull Authorization

Signature authorizing the funder to run a credit inquiry (soft or hard) on the primary owner. Embedded in the application form. FICO minimum varies by funder (typically 500-550). Ask your ISO whether the funder uses a soft or hard pull before submitting.

Required Personal Guarantee Acknowledgment

Most MCA agreements include a personal guarantee making the owner personally liable for repayment. This is disclosed and acknowledged during application. Read the personal guarantee section of any contract before signing. Ensure you understand what assets are exposed under this guarantee.

Section 1B — Requested Later (After an Offer Is Accepted)

Collected Later Voided Business Check

Not required to apply or for initial review. A check from the business checking account with "VOID" written across it, collected during underwriting to verify bank account and routing number for ACH debit setup, once you've accepted an offer. Must be from the same account as the bank statements submitted. No starter checks — must be a pre-printed check with account number.

Collected Later Government-Issued Photo ID

Not required to apply or for initial review. Unexpired driver's license or passport for each owner with 20%+ equity stake, collected during underwriting for identity verification and Know Your Customer (KYC) compliance once you've accepted an offer. Must be clear and fully legible — blurry or partial photos cause delays. Most funders accept a photo of the ID taken with a smartphone.

Section 2 — Preferred (Improves Offers)

Preferred 3 Months Credit Card Processing Statements

If a significant portion of revenue comes from card processing (retail, restaurant), processing statements help confirm deposit volume and consistency. Some funders offer better rates for businesses with verifiable card processing history since it simplifies split-withholding repayment.

Preferred Most Recent Business Tax Return

Not required for most standard MCA applications but helpful for advances over $100,000. Shows full-year revenue that may not be visible in 6 consecutive months of bank statements (seasonal businesses). Having it ready prevents a delay if the funder requests it mid-underwriting.

Preferred Business Debt Schedule

A simple list of current outstanding business debts: existing MCAs (funder name, original amount, remaining balance, daily payment), loans, LOCs, equipment financing. Funders underwriting second-position requests need this to calculate total daily debt service coverage. Providing it proactively speeds the process.

Section 3 — Large Advances ($150K+)

Over $150K 2 Years Business Tax Returns

Advances above $150,000 typically require two years of business tax returns for additional revenue verification. Prepare these proactively for large advance requests.

Over $150K Year-to-Date Profit & Loss Statement

A current P&L (accountant-prepared or owner-prepared) helps justify large advance requests, especially for businesses with significant seasonal revenue variations not captured in recent bank statements.

Bank Statement Red Flags to Fix Before Applying

Underwriters read bank statements the same way every time. Know what they look for — and what you can address before submitting.

Good Signs for Approval

Consistent deposit frequency (weekly or bi-weekly)
Zero or minimal NSF / overdraft activity
Stable or growing average daily balance
No existing MCA debits (first position)
Deposits spread across multiple days (not lump-sum end of month)
Account title matches business name on application

Red Flags That Hurt Approval

NSF fees in 2 or more of the last 6 months
Daily ACH debits that look like existing MCA payments
Large end-of-month deposits masking low operating balance
Statement from personal account instead of business account
Average daily balance less than 1x daily debit amount
Account opened less than 3 months ago

What Happens After You Submit

1
ISO Packages and Submits (0-1 Hour)
Your ISO reviews the application package, identifies the appropriate funders for your profile, and submits to multiple funders simultaneously. T.A.G. typically submits to 4-8 funders depending on your profile and advance amount.
2
Underwriting (1-4 Hours)
Each funder's underwriting team analyzes bank statements, runs credit, verifies identity, and checks for existing UCC liens. Clean, complete packages move faster. Missing documents cause delays.
3
Offers Returned (2-4 Hours)
Funders return approval offers with factor rate, advance amount, daily debit, and estimated term. Your ISO presents competing offers and advises on the strongest combination. You can negotiate on factor rate, advance amount, and term.
4
Contract Review and Signing (30 Min)
Review the contract: verify total repayment, daily debit, term, COJ clause, UCC-1 confirmation, stacking restrictions, and personal guarantee. Sign only after reviewing all terms. Use our before you sign checklist.
5
Funding (Same Day or Next Day)
After contract execution, the advance is wired to your business bank account. Same-day funding is possible for applications completed by mid-morning. Most fund next business day.

Frequently Asked Questions

What documents do you need to apply for a merchant cash advance?: Required for initial review: 6 consecutive months of business bank statements, completed funding application, and business license or formation documents. A voided business check and government-issued photo ID are requested later, during underwriting, after you accept an offer — not needed to apply. Preferred: credit card processing statements, business debt schedule. Large advances ($150K+): two years tax returns and current P&L.

How quickly can you get approved for a merchant cash advance?: Initial offers typically return within 2-4 hours of submission during business hours. Same-day funding is possible for clean applications submitted early. Next-day funding (next business day) is standard. Complex profiles or large advance requests may take 24-48 hours.

Does applying for an MCA hurt your credit?: It depends on the funder. Some use soft pulls (no credit impact), others hard pulls (5-10 point temporary dip). Ask your ISO before submitting. Multiple hard pulls for the same credit type within 45 days are typically treated as one inquiry by FICO.

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