How Does a Merchant Cash Advance Work?
A merchant cash advance offers a fast and simple process. We can fund your business in as little as 7 days.
Apply
Complete a very short application and submit the last four months of your business's credit card statements.
Review
Our trained funding specialists will review your information and in 48 hours, you will be notified of the status of your application. Applicant's who have owned their businesses for at least 6 months , process a minimum of $5,000 in monthly credit card sales, have at least one year remaining on their business's lease and have a credit score of at least 550 will most likely be eligible to receive a merchant cash advance.
Approve
When it is determined that a business owner meets these minimal requirements, our experienced staff will look to the business owner's monthly credit card sales volume to determine the amount he/she will receive. Merchants have the opportunity to receive anywhere from $5,000 to $500,000 for their businesses.
After approval, we can wire funds into a merchant's account in as little as 10 business days.
Repay
Merchant cash advance repayment begins as soon as the first credit card purchase is made, after funds have been received.
Renew
A merchant cash advance can be renewed approximately every 3 to 4 months. Merchants can choose to renew their merchant cash advances as many times as they wish.