Merchant Cash Advance

The Merchant Cash Advance Program is ideal for businesses that might not want, or cannot qualify for a traditional loan. By basing the funding amount you qualify for on the volume of your credit card or gross sales, the Merchant Cash Advance program allows us to convert your future credit card receivables into the immediate capital you need. Whether the funds are needed to expand, renovate, or simply reduce debt, access to capital can empower your business to thrive, and the Merchant Cash Advance Program can be the source of that success.

When Should A Business Choose Merchant Cash Advance?

A Merchant Cash Advance is appropriate for a business if:

What Can Be Funded Through Merchant Cash Advances?

Merchant Cash Advances can be extended to those businesses who have been receiving payments from customers through credit cards for more than 60 days. Most of the lenders prefer to lend to those merchants who record a minimum of $3,000 credit card sales each month.

HOW THE MERCHANT CASH ADVANCE PROGRAM CAN BENEFIT YOU:

How a merchant cash advance works:

A merchant cash advance is financing for companies that have credit or debit card sales, such as restaurants or retail businesses. Unlike a regular loan, which is repaid on a fixed schedule (typically weekly, biweekly or monthly), MCAs are repaid daily. A percentage of your credit or debit card sales is withheld until the agreed-upon amount has been repaid in full.

Let’s say you need $50,000 to purchase a new oven for your restaurant, which you expect to increase sales. You apply and get approved for an MCA of $50,000. Fees are determined by a factor rate, so multiply your advance by the factor rate, and you’ll have your repayment amount and total fees:

ADVANCE: FACTOR RATE:
$50000 1.4
   
TOTAL FEES: TOTAL REPAYMENT:
$20000 $70000

 

A fixed percentage is automatically deducted from your credit and debit card sales until the entire $70,000 is collected. The average repayment period typically ranges from three to 12 months. The higher your credit card sales, the faster you’ll repay the MCA.

In this case, let’s say you agree to deduct 10% of your monthly credit card sales until the total amount is repaid ($70,000), and your business averages $100,000 in credit card revenue per month. You’d repay $10,000 monthly, and at this pace, the advance would be repaid by the seventh month. But if your sales drop to $70,000 in revenue per month, the MCA wouldn’t be repaid in full until the 10th month.

Business Loans

Growing your small business on your own can be very difficult without access to additional business funding. One of the most common ways to raise working capital for your business is through a business loan. Our small business loans were designed specifically to address the challenges that newly-established or credit-challenged businesses can face in obtaining funding. Whether you need a one-time infusion of capital or have an ongoing need, we offer small business loans based on the current cash flow of your business – not years of financial history – enabling you to access from $10,000 to $2,000,000 in just a few days. Once funded, you can pay back your loan through a small, fixed daily or weekly payment from business bank account.

Premier Loan:

Advantage Loan:

How the small business loan program can benefit you:

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