A merchant cash advance is an easy, quick and cost effective way to get working capital for your business without the headache of a traditional loan. Qualification for a merchant cash advance is far less strenuous than traditional lending instruments. Cash is available in as little as 4 business days and is deposited directly into your business account.
How does it work?
A merchant cash advance allows your business to receive a lump sum payment based on your future credit card payments. You decide how much money you would like advanced. That money is then deposited into your account for use as you see fit. The cash advance is automatically paid back over a predetermined number of months. Over those months a specific percentage of each sale is used to pay for the advance. You have absolutely nothing to worry about as the advance is paid back automatically.
What are the qualification requirements?
Qualification for a merchant cash advance is easy and includes:
- A least a 500 credit score
- You are currently processing greater than $5,000 a month
- Your business primarily swipes credit cards and your average ticket is less than $600
- You perform at least 15 batches per month
- Your business has been operational for more than one year
If you would like additional information on a merchant cash advance, please provide us with your contact information and a representative will be in touch to discuss the program in detail.