Merchant Cash Advances
A Merchant Cash Advance is a fast and easy solution for businesses looking to obtain cash advances without Personal collateral and despite having less than perfect credit. Merchant Cash Advances are ideal for small businesses that accept credit cards and are in need of alternative business financing.
How it Works
The Merchant Cash Advance application process is quick and easy and involves minimal paperwork. To qualify for the advance, you agree to remit back the total amount, an additional fee plus a portion of your daily credit card sales until the debt is paid off.
While Merchant Cash Advances are relatively easy to obtain, they can also be expensive. Fees may range from 15% to 80% percent APR of the total financed amount. Provider fees are based on a “factor rate,” with a range of 1.4 to 1.8. The factor rate is multiplied by the amount advanced to determine the total debt. Providers are remit back through a percentage of credit card revenues each day until the debt is settled, so when business is slow, borrowers remit back less. Borrowers who pay a higher fixed percentage of their credit card sales can remit their debts faster.
If you receive a large portion of your revenue through credit card payments, using a merchant cash advance as your “short-term financing” option can help cash flow for the purchase of inventory, paying down debt, covering unexpected expenses and a lot more. If you lack Personal collateral, have a less than perfect credit rating or a limited business history, it could be the financial solution you’ve been looking for.
Fill Out Our Simple Online Application
It’s fast and easy. Again, you don’t need any personal financial information to submit your application and be considered. Everything is based on business performance. If you have any questions, we’re standing by to help you.
Consult With Our Loan Advisors
Based on your application, we’ll help you consider all your options and pick the best financial solution for you. We know the challenges small businesses face and will offer expert advice for your unique situation.
Close On Your Loan Or Line Of Credit
We’ll help guide you through the entire process, serving as your personal liaison to over a hundred fine lenders. It’s what we do every day, serving small businesses like yours throughout the U.S.
Our loan consultants will contact you with approval. In as few as 24 hours, you could secure the working capital you need and peace of mind you want.