Merchant Cash Advance

A merchant cash advance is a form of financing where you receive an upfront sum of money from $20,000 to $5,000,000 based strictly on your monthly gross sales. Instead of a traditional interest rate, you pay what is called a factoring rate that gives you a total amount to be paid back. For example, if we advance you $20,000 with a factoring rate of 1.2, you will owe back a total of $24,000. The money is paid back over a period of time of three to 18 months based on taking a percentage of your monthly sales. For months where you have more sales, you will be able to pay back your loan faster. For months where you have slower sales, your payment will also be lower. 

This type of financing is great for businesses that do not have a fixed revenue stream over the year. The money can be used for any business needs, including working capital, inventory, payroll, business expansion or any other need. There is no minimum credit score, and all industry types are eligible. 

Typical documentation is only 3-6 months of bank statements. Once approved, our lender will provide you with the terms of the cash advance. Money can be in your bank account as soon as two business days after you accept the terms. Cash advances are not secured by any personal or business assets, so these are unsecured advances. To get specifics about your factor rate, repayment period and percentage of sales, along with any other qualifying criteria, contact our office.