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If you operate a moving company and require funding to expand your fleet, invest in specialized moving equipment, or ensure the efficient transportation of goods, MCashAdvance moving company advances are the swift solution you’ve been searching for.
We offer moving company advances ranging from $5,000 to $900,000 to help grow your moving business. We fund all types of moving services, including local movers, long-distance moving services, and specialized moving services.
Securing financing from banks for moving companies can be a lengthy and challenging process, often taking weeks or even months to obtain, with strict approval requirements, extensive paperwork, the need for collateral, and a preference for businesses with perfect credit.
An advance from MCashAdvance for moving companies offers simpler approval, no paperwork or collateral, the possibility of receiving funds within 24 hours or up to 3 days, and accepts poor credit scores with no hard credit check that won’t impact your credit score upon application.
Get a Moving Company Loan Alternative Now
| MCA Feature | Offer Details |
|---|---|
| MCA Amounts: | $5,000 – $900,000 |
| Factor Rate: | 1.1 – 1.5 |
| Holdback | 10 – 25% |
| Repay In: | 3 – 18 months |
| Funding Time: | 1 – 3 days |
Applying is easy, free, and won’t impact your credit score.
Get the moving company financing you need today.
What is a Moving Company Business Advance?
A moving company business advance is a type of merchant cash advance (MCA) created for moving companies, including local movers, long-distance moving services, and specialized moving services.
Your moving company sells a portion of its revenue to MCashAdvance in exchange for an upfront lump sum of funds called a cash advance.
In exchange, we will deduct a small percentage of your daily sales revenue until the advance is fully repaid.
Emergency Funding for Moving Companies
In the moving industry, financial challenges can arise from a variety of needs, such as vehicle maintenance, equipment upgrades, or unexpected operational expenses. A moving company cash advance provides a quick and flexible financial solution, typically available within 24 hours to 3 days, and can be used for any moving-related need.
Moving Company Financing for Any Purpose
Here are 12 common ways a cash advance can be utilized in your Moving Company:
- Upgrade Moving Vehicles: Invest in new or additional moving trucks to expand your fleet and capabilities.
- Maintenance and Repairs: Use the funds for regular maintenance and necessary repairs of your moving vehicles.
- Purchasing Moving Equipment: Buy updated equipment like dollies, furniture pads, and packing materials.
- Insurance Premiums: Cover the costs of insurance for your vehicles and services.
- Storage Facility Upgrades or Expansion: Improve or expand your storage facilities for customers who need temporary storage solutions.
- Fuel Costs Management: Manage the fluctuating costs of fuel for your moving vehicles.
- Technology Upgrades: Implement advanced scheduling and logistics software to optimize operations.
- Safety Equipment: Invest in safety equipment and protocols to protect your employees and customers’ belongings.
- Hiring Additional Staff: Use the funds to hire more employees during peak moving seasons.
- Website and Online Booking System: Develop or improve your online presence and booking system for easier customer access.
- Legal and Compliance Costs: Ensure your business stays compliant with all relevant laws and industry regulations.
- Eco-Friendly Initiatives: Invest in eco-friendly practices, like fuel-efficient vehicles or recycling packing materials.
Moving Company Business Advance Example
Suppose you need $7,500 of moving company merchant cash advance to hire new moving staff to cope with increased call-out demand for your moving company business. If you are approved for $7,500 and receive a funding offer with a factor rate of 1.2 and a daily credit card holdback percentage of 15%, here are the details:
| Details | Example |
|---|---|
| Advance Amount | $7,500 |
| Factor Rate | 1.2 |
| Avg Monthly Credit Card Sales | $12,500 |
| Holdback Percentage | 15% of Daily Credit Card Sales |
| Daily Credit Card Sales | $416.67 per day (approx.) |
| Daily Payment Amount | $62.50 per day (approx.) |
| Repayment Term (in days) | Approximately 144 days |
| Repayment Term (in months) | Approximately 4.8 months |
| Total Repaid (including fees) | $7,500 (Advance Amount) + $1,500 (Fees) |
Moving Company Business Funding Eligibility
To be eligible for funding from MCashAdvance you must meet these 5 criteria:
- Your moving company must have been operational for at least 6 months
- Your relocation service should be generating a minimum of $100,000 per year in revenue
- As the moving company owner, your personal FICO score needs to be 550 or higher
- Your moving business must utilize a business checking account
- You, as the moving company proprietor, must be over 18 years of age and a U.S. citizen
How to Get a Moving Company Advance from MCashAdvance
To get an advance for your moving company business from MCashAdvance, follow these 5 steps:
Step 1: Begin Online Application: Click Apply for an MCA to begin.
Step 2: Fill in Your Details: Provide information about your moving company and some personal details as owner of the moving company.
Step 3: Submit Bank Statements: Upload the last three months’ bank statements of your moving company.
Step 4: Await Review Process: One of our underwriters will review your restaurant cash advance application to decide on funding.
Step 5: Receive Offer and Funding: Once you get a funding offer, review it. If it suits your business needs, accept it, sign the MCA agreement and the funds will be deposited into your business account.
Get a Moving Company Business Advance Now
or learn more about merchant business funding
Moving Company Funding FAQs
Moving companies can potentially qualify for SBA loans, and they are most likely to be eligible for options like the SBA 7(a) Loan, SBA Microloan, and SBA Express Loan, which can provide financial support tailored to their industry.
Moving companies that handle corporate or commercial relocations and issue invoices for these services may be eligible for invoice financing.
Banks typically require moving companies to have at least two years in operation, a FICO credit score of 680 or higher, three years of cash flow records, and a well-structured business plan outlining fund usage. Meeting these criteria increases the likelihood of banks approving a loan for your moving company. If you can’t meet these standards, alternative lenders like MCashAdvance may offer more accessible eligibility criteria for obtaining financial support for your moving business.
Moving companies can invest in equipment like moving trucks and use the moving trucks as collateral to secure financing. At MCashAdvance, you can obtain moving trucks using our advances without having to use the equipment as collateral.
Absolutely, moving companies can secure a business line of credit when they meet criteria specific to the moving industry. Qualifications often encompass having a FICO credit score of 660 or higher, a minimum of one year in the moving business, and maintaining monthly moving revenue exceeding $5,000.
Lenders like to see a minimum credit score of 670 to get approved for a moving loan. A moving company business advance only requires a minimum score of 550 FICO.