Are You A Business Owner In Need of Quick Cash?
Your business can receive from $5,000 up to $500,000 in working capital to pay bills, launch advertising campaigns, purchase necessary equipment and grow your business.
A merchant cash advance is a form of funding where a credit card processor or third-party lender “advances” you money based on your credit card sales volume.
Essentially, the lending company is purchasing a portion of your future credit card sales. Instead of a traditional loan with a monthly payment, you’ll repay the advance through an automatic deduction from your daily credit card sales.
This is not bank loan, but an unsecured merchant cash advance based on a three to six month average of your business incoming Visa and MasterCard receivables.
Merchant cash advances almost always have looser eligibility and qualification requirements than traditional business loans.
First of all, you don’t necessarily need good credit and in some instances your personal credit is irrelevant. One of the primary factors in determining whether you’ll be approved for a merchant cash advance is strong and consistent credit card sales. If you can document that your business processes a lot of transactions by credit and debit card, you’ll have a better chance at getting quickly approved.
- No application fee or setup fee.
- Minimum of one (1) year in business and at least $10K in monthly Visa and MasterCard credit card sales
- Complete a one-page application and include 3 months up to 6 months of merchant processing statements.
- Get funding within 7 to 10 business days