Business Cash Advance Frequently Asked Questions
What paper work is involved?
This process is virtually paperwork free. All we need is the last 6 months of your Visa/MasterCard merchant account statements, plus a simple, 2-page application.
How long does it take to get approved?
Once we receive your completed application, approval takes up to 48 hours.
How much money can I get?
We advance you based on your monthly credit card sales volume. We take into consideration the last 6 months of your Visa/Master card merchant account statements. You may qualify for up to twice your monthly credit card sales volume.
What is the interest rate?
This is not an interest-based loan. However all the numbers will be provided to you to the penny.
How long does it take to get the money?
Once approved, the cash is typically wired into your account within 7 days.
Can I repay the advance early?
Yes, you can always pay off your remaining balance on the advance at any time.
Is there any collateral required?
No, the merchant cash advance is completely unsecured. We use your proven business track record to determine funding.
Are there any setup fees?
No, there are no setup fees or application fees of any kind.
Will the cash advance show up on my credit report?
No, the merchant cash advance will not show up on your credit report. You can apply for additional financing and it will not impact your debt to income ratios.
Will I have to change credit card processors?
In most cases you will have to change processors, but you will be upgraded to one of the best processors in the country and we will either match or beat your current processing rates.
The transfer is very simple and it is done over the phone. It takes less than 5 minutes.
Are there any costs to switch merchant services?
No, all set-up fees are waived.
Can I renew the advance?
You may renew the advance every 4 months to receive more cash. In fact, 80% of our merchants do. You will never have a cash flow problem again.
