A merchant cash advance, also known as a commercial cash advance, allows a company to borrow money against future sales. A merchant cash advance can provide a business anywhere from $5,000 to $500,000 in capital, which is repaid daily by deducting an agreed upon percentage of the credit card processing and depositing the remainder into the merchant’s bank account until the loan is paid off. The repayment time frame can be anywhere between 6 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.
Fast approval processNo collateralQuick access to fundsNo need for a high credit scoreMinimum documentation requirementYou decide on how to utilize your fundsRepayment in the form of deduction from daily credit card sales
Three Months bank statements
Three Months of Credit Card Processing Statements
Copy of your business lease
Copy of Business License
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.
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.
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