A merchant cash advance is also known as a business cash advance. It's an arrangement where businesses get a lump sum amount as a cash advance, which is later recovered from a certain percentage of the business's debit card or credit card sales.
We give merchants at Merchantech a large initial capital payment through a financial agreement that takes part in their future payment transactions. You will obtain immediate working capital and we will collect a share of your sales revenue until we recover the sales quantity we purchased. Quick funding along with flexible qualification standards attract companies through Master Card advances which approve loans to borrowers with bad credit.
Businesses qualify for merchant cash advances worth $5,000 to $500,000 in capital and repay them through automated daily deductions from their credit card transactions before receiving the remaining funds in their bank account until the debt is exterminated. The duration to pay back the advance ranges from 6 months up to 24 months. . Unlike other business loans, a merchant cash advance usually does not demand collateral, which means you can get money in as soon as 24 hours.
Merchant cash advances are beneficial for businesses like restaurants, dental clinics, attorneys, gas stations, pharmacies, and more. No matter what industry you are in, our advisors are highly experienced and will work closely with you to secure the best funding options to grow your business without cash flow issues.
A good credit score is not necessary for a merchant cash advance, and lenders will accept applicants with lower credit scores. Additionally, because cash advances are subject to simpler underwriting regulations and procedures, the process is usually fast and funds can be in your bank account as quickly as 48 hours.
There are no set deadlines once we have secured you with a merchant cash advance. Your repayment is based on a percentage of your credit card sales and not a fixed monthly payment. The agreed-upon payback percentage will be used to deduct that percentage from your credit card processing daily. The payback amount and payback factor are determined before accepting funds. Regardless of how long it takes to repay the loan, you only pay a flat percentage of your credit card sales until it's paid.
You might be aware that traditional banks and SBA loans are typically given to wealthy business owners with high credit scores. Merchantech offers flexible requirements by considering your business's overall financial health, not just your credit score. Lastly, your business must process credit and debit card transactions to qualify.
Three months' bank Statements
Three months of credit card processing statements
Copy of business lease
Copy of business license
If you're exploring flexible funding options for your business, our comprehensive Merchant Cash Advance Guide will walk you through everything you need to know before applying.
Utilize the calculator below to determine your merchant cash advance repayments. To see an example repayment amount, enter the amount you want to borrow, the factor rate, and the monthly amount your company receives in card sales.
You can obtain the financial boost your company needs without an appointment in as little as 24 hours.
Repayments are automatically deducted before entering your account, similar to how most people pay their income taxes. This means you won't have to stress about forgetting to pay or having trouble doing so.
There are no hidden fees or penalties, the cost of repayments is predetermined up front, and it won't increase over time.
Simple and reasonable pricing that is repaid with a proportion of upcoming credit card sales.
We are glad you asked. For businesses, time is money, and we are here to save your time and money. The right funding option for your business is where Merchantech shines. We care about our clients and strive to assist small enterprises as a dependable company. To use our services, there are no fees, and we are here to allay your concerns.
We typically finalize approvals within the same day, and funds can be deposited into your account in as little as 24 hours.
The benefits of a merchant cash advance are numerous. Merchantech prioritizes serving our clients.
A good credit score is not necessary for a merchant cash advance, and lenders will accept applicants with lower credit scores. Additionally, because cash advances are subject to simpler underwriting regulations and procedures, the process is usually fast and funds can be in your bank account as quickly as 48 hours.
There are no set deadlines once we have secured you with a merchant cash advance. Your repayment is based on a percentage of your credit card sales and not a fixed monthly payment. The agreed-upon payback percentage will be used to deduct that percentage from your credit card processing daily. The payback amount and payback factor are determined prior to accepting funds. Regardless of how long it takes to repay the loan, you only pay a flat percentage of your credit card sales until it's paid.
Unlike traditional loans, a Merchant Cash Advance (MCA) does not have a fixed interest rate. Instead, it uses a factor rate, typically ranging from 1.1 to 1.5, which determines the total repayment amount.
Yes! A Merchant Cash Advance (MCA) is a great option for businesses with bad credit because approval is based on business revenue, not just your credit score.
As part of the arrangement the provider seeks to receive payment from the sales made through credit or debit cards. To pay back MCA asserts you must transfer a percentage of your business bank account sales total. An MCA provider can retrieve the cashback by plugging into either your credit card processor or bank account.
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