FAQ Knowledge Base
A Merchant Cash Advance is an alternative to a traditional small business loan. We utilize your current sales to be able to provide you with financing so you can drive your business forward.
Our requirements are: • Be in business for a minimum of 6 months. • Deposit on an average $15,000 monthly into your business checking account.
We do not determine the use of the funds your business receives. Our funding policies do not include a section for money usage purposes.
No, one of the many advantages of our programs over a traditional lender is that we do not require a business plan in order to extend a merchant cash advance.
The cost depends entirely on the terms and rates you qualify for.
We look more at your revenue forecast than your credit score. We can work with most businesses as long as you have a credit score of 550+.
We only do a soft credit pull so you can find out what loan products and rates your business will qualify for before we have to do any hard credit pulls. A soft credit pull doesn’t affect your credit, but gives us enough information to provide you with relevant options.
Once the application and documentation are received, an approval notice typically takes approximately 24-72 hours.
We will look at your total sales for the last 4 months and make a determination that is generally between 50% and 150% of your average monthly sales.
Once approved, you will receive the funded amount within a few hours.
No, there is no penalty for early payoff. You can repay anytime you wish.
Yes, it is possible. We can pay off your current cash advance and give you the remainder of your available funded amount.