A merchant cash advance, unlike a loan, is a purchase agreement, where the financing company purchases a percentage of your daily credit card and debit card sales at a discounted price today. Merchant cash advances are a good product for businesses that need capital quickly and don’t have the time or ability to provide extensive paperwork. A business merchant cash advance requires no collateral even for business owners with poor credit scores.
$10,000 - $1,000,000
Up to 24 Months
Time to Fund
As soon as 1-2 Business Days
As low as 18%
What is a Merchant Cash Advance?
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Who Qualifies for a Merchant Cash Advance?
Most of our clients who have qualified for a merchant cash advance are in business for at least 3 months, have over 500 FICO scores, and annual revenue over $150,000.
What Documents are Needed for a Merchant Cash Advance?
To apply you’ll need to gather up several documents, including a funding application, driver’s license, voided check, previous 3 months bank statements and previous 3 months credit card processing statements.
How Much Does a Merchant Cash Advance Cost?
Merchant Cash Advances usually cost between 1.18 -1.35 Factor Rates, with repayment terms averaging between 3-18 months. The biggest benefit of an MCA is the speed, minimal paperwork, and flexible repayment structure. MCA’s are typically expensive due to the speed and lack of collateral needed to be approved. For this reason, it’s important you utilize the capital well, to generate short term business profits.