A Merchant Cash Advance is a short term unsecured loan provided to a merchant in advance of his or her future business. The loan is then repaid in two different ways either through the merchant’s credit card sales by taking a small percentage of the daily transactions or by ACH debiting the merchants business bank account either once a business day or once a week until the funds are repaid. These type of loans are usually 3 to 18 months to repay the funds and do not require business and personal financials or collateral like traditional funding all that is required is the following:
- Minimum of 3 months or longer in business
- Complete last 4 months of the business bank statements showing business activity
- Minimum credit score 475
- Most be 18 years old or older
- Proof of Ownership of business
- Valid state or government issued ID
- US Citizen or legal resident or green card status
- Online application completed
*Note: Rates and terms will vary depending on the merchant’s credit worthiness, time in business, industry type and other factors that are considered. For more details, please contact us and a representative will answer all of you questions and assist you through the funding process. Finally, you can apply here by clicking onto the link here and completing the online application.