Main Street Finance Group: MCA Review

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Main Street Finance Group offers several business loan products. Today, we will be looking at their Business Cash Advance, which functions like a Merchant Cash Advance (MCA).

You can get a medium-large MCA from Main Street Finance Group. A large advance can be ideal in many situations, but if you’re looking for a smaller MCA then you will have to look elsewhere. MCAs from Main Street can be as large as $100,000 but come with a high minimum of $5,000.

Main Street offers fast approval and some of the highest approval rates of any lender. Let’s go over the key parts of their offer and then go over some of the factors you should be aware of.

Main Street Finance Group: Special Qualities & Features

Fast Advance

Main Street sells itself as a fast cash advance provider. If you try to get one of their business cash advances, you can often expect approval within 24 hours. After that, you can have your funds sent to you in a few days.

Easy Application

The easy and simple three-step application process of Main Street Finance Group takes very little time. You can fill out an application on their site in minutes to receive a decision during the next few hours.


One of Main Street Finance Group’s specialties is consolidating different cash advances. They can offer you one large advance to pay off any outstanding MCA debts you have. You should be able to get a rate that saves you more money than the sum of all your other MCA loan payments.

Choice Of Repayment Plan

Main Street Finance Group offers you options for repayment. You can opt for daily or weekly ACH payments.

When it comes to your repayment schedule, you can come up with a plan lasting anywhere from 2 to 18 months. Also, unlike most other lenders, Main Street Finance Group won’t penalize you for paying back early. On the contrary, they may even offer you rewards for doing so.

Collateral Not Necessary

You can choose either secured or unsecured advances with Main Street Finance Group. With unsecured advances, you can expect worse rates, but you don’t need to risk your assets to get an advance. Likewise, an advance that you secure with collateral should get you a better rate.

No Restrictions

Sometimes it’s good when a business lender offers a highly specialized loan. Sometimes it’s better when they don’t.

Main Street Finance Group doesn’t hold any restrictions on which companies it works with and what it does with its funds. As long as you’re following the law, you shouldn’t have any problems working with them.

Pricing & Terms

The rates you will get from Main Street Finance Group will depend on your credit score and business financials. The more consistent the revenue you bring in, the better your rates will be.

Unfortunately, Main Street Finance Group’s business advance pricing scheme isn’t very transparent. Their minimum, maximum, and average rates are not displayed publicly.

Do I Qualify For A Main Street Finance Group Business Advance?

When it comes to your credit score, Main Street Finance Group doesn’t hold high standards. The hardest part of getting approved is their revenue requirement.

To get approved for a business advance, you need to have been in business for at least one year. You also need to have at least $10,000 per month in revenue. If you have this level of business experience, you should get approved for an advance. Just keep in mind that your rates will be better if your credit score is higher and your revenues are higher and more consistent.

You don’t need much paperwork to get a Main Street Finance Group business advance. As long as you have the typical business paperwork, you will be able to apply for an advance.

Factors To Keep In Mind with Main Street Finance Group

Cash Flow

Any MCA can spell trouble for your daily cash flow. Because of how MCAs are repaid, many business borrowers don’t pay enough attention to their true costs. Fortunately, you can choose a payment schedule that fits within your cash flow if you use a business advance. Still, make sure any advance you accept fits within your budget.

Early Repayment

Try to pay Main Street back early. Paying them early can save you some money on fees or rewards. Many other lenders will charge you a prepayment fee, but Main Street has chosen the opposite route. Take them up on their offer to cheapen the cost of your advance.

The Last Word on Main Street Finance Group

Main Street offers an MCA with a few extra perks. The benefit you get if you choose them over other MCA brokers is flexibility.

MCA repayments can eat away at your cash flow if you’re not careful. However, with Main Street’s business advance, you can choose the repayment plan that best works for you.

Not sure where to go for a business loan? Read these quick & helpful guides:
Check out our preferred marketplace lenders.

Lender Minimum Revenue Time in Business Minimum Credit Next Steps
$10,000/mo 6 mo. 550+ See if you qualify
$10,000/mo 3 mo. n/a See if you qualify
$10,000/mo 3 mo. n/a See if you qualify
$75,000/yr 24 mo. 620+ Request Intro
Varies Varies 560+ See if you qualify

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