Business Cash Advances
The merchant cash advance industry has experienced steady growth since its inception. It provides business owners a real solution to today’s financial challenges. Merchants are finding it harder to get approved through their local banks for the capital they need to grow. Receivables financing has been a viable resource for businesses for centuries, a merchant cash advance is essentially receivables financing. The advance company is agreeing to purchase your future credit card sales for a discounted rate. Then you pay that amount back through a small percentage that is held from your daily credit card transactions. This way, if business is good, you pay off a little more, if business is slow, you aren’t strapped for the payment.
- 7-10 Day funding
- Receive up to 200% of your average monthly sales
- Up to 1 Million in capital for businesses that qualify
Criteria:
- 18 months in business
- Credit score of at least 500
- 4 months of processing history
- No bankruptcies in last 18 months
- 6 months business bank statements