Merchant Cash Advance
A Merchant Cash Advance is a type of funding that is not a loan. It is a purchase of a fixed dollar amount of a business' future credit and debit card receivables. The Merchant Cash Advance provider purchases a specified dollar amount of your business' future debit and credit card sales at a discount. Instead of paying one large fixed monthly payment until a set maturity date like a loan, your business remits a fixed percentage of its daily debit and credit card revenue automatically until the specified amount of purchase receivables is remitted in full to the Merchant Cash Advance provider.
- Business-friendly daily repayment schedule
- Quick approval process
- Good credit and business collateral are not required
- Funding Amount – $10,000.00 to $250,000
- Process Time – 3 to 5 days
- Factor Rate – 15% to 40%