What Are Merchant Cash Advances?

You can get money for your business quickly by borrowing against your future credit card sales.  This type of financing is known as Merchant Cash Advances.

How Do These Loans Work?

These loans use your past and current credit card history to determine how much financing you can get approval for.

Money is advanced to you. The amount has a basis in how much you process each month in credit card transactions.

How Do You Pay Them Back?

Then a small portion of each future credit card sale goes towards paying back the merchant advance loan not interfering with your cash and check receipts.

There are no fixed repayment amounts or terms. So this gives flexibility to your business if you are having a slow month.

One of the best benefits of merchant advances is you can get money in your bank account. So you can get it as soon as 24 hours after approval.

Why Are They So Great?

Another great benefit of merchant loans is you don’t have to have good credit to qualify.  These loans leverage your positive credit card processing history to get you approval, not your credit scores.

There are some credit score restrictions, but in most cases you can get approval with even below average personal credit scores.

And there is no personal guarantee necessary. Plus, no collateral is necessary.

How Much Can You Get from Merchant Cash Advances?

You can get merchant loans for up to $150,000.  How much you process in credit card transactions each month will determine how much you will get approval for.

So, every business has its strengths and weaknesses.

Do you use credit cards as a payment source for your clients? If so, then a merchant advance can be the perfect way for you to get a lot of money in a short period of time.

These loans are available for businesses that process as low as $3,500 monthly in credit card transactions.  So the more you process, the higher advance loan you will get approval for.

What Are the Fees for Merchant Cash Advances?

So there are no application fees and no out of pocket costs.

And you can use the funds for payroll, marketing, or to increase business inventory. Get a loan to pay taxes, pay rent, or for advertising. So, try a loan to order supplies and equipment. Or you can expand your business and open an additional location. Or you can use the funds for working capital.