Business Funding
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What is Merchant Cash Advance? A Merchant Cash Advance provides business owners with access to their needed capital. The company providing the funds advances the cash by purchasing a pre-determined amount of the business sales volume sold through a merchant account. |
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What is Merchant Loan?
A small business loan refers to receiving a lump sum of working capital to use for business purposes. The best feature about this type of loan is that there is a fixed payment amount which is automatically deducted from your business bank account on either a daily, weekly, or monthly basis. |
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What is Merchant Line of Credit? A line of credit is a flexible business financing option that allows quick access to a defined amount of working capital. The way it works is a business is approved for a set amount of credit and has access to that amount through a streamlined process which allows for quick and easy access to draw on the approved amount when needed. We can facilitate access to line of credit financing from $5,000 up to $250,000. |
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| Merchant Cash Advance*3 | Loan Programs*1,2 | Line of Credit* | ||||||||
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| Terms or Estimated Terms (Months) |
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| Min. time in Business (years) |
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3 | |||||||
| Min. Monthly Sales | $10,000 | $10,000 | $10,000 | |||||||
| Max Business Liens/ Judgment | $150,000 | $150,000 | $150,000 | |||||||
| Funding Minimum | $5,001 | $5,001 | $5,001 | |||||||
| Funding Maximum | $600,000 | $600,000 | $55,000 | |||||||
| Time until Funding | Funding as fast as 24 hours | Funding as fast as 24 hours | Terms up to 18 months | |||||||
| Key Feature | Easy Fast Application | Loan terms 3-60 months | Approved amount accessed anytime | |||||||
| Frequency of Payments | Flexible payments based on receivables | Automatic daily or weekly payments | Weekly Payments | |||||||
| Minimum Credit Score / FICO | 620 | 620 | 620 | |||||||
| Origination Fee | NONE | NONE | 3% Draw Fee |
What is Merchant Cash Advance?
A Merchant Cash Advance provides business owners with access to their needed capital. The company providing the funds advances the cash by purchasing a pre-determined amount of the business sales volume sold through a merchant account.
Many like the fact that you are only required to pay a fixed % of your credit card sales so if your sales slow down to a second COVID wave or other unforeseeable issues your safe. You have no accruing interest or fixed payback period.
Business owners can qualify for a Merchant Cash Advance between $5,000 and ranges up to $500,000 with our programs.
What is Merchant Loan?
A small business loan refers to receiving a lump sum of working capital to use for business purposes. The best feature about this type of loan is that there is a fixed payment amount which is automatically deducted from your business bank account on either a daily, weekly, or monthly basis.
Business owners can get access to working capital as small as $5,000 that ranges up to $1 million.
What is Merchant Line of Credit?
A line of credit is a flexible business financing option that allows quick access to a defined amount of working capital. The way it works is a business is approved for a set amount of credit and has access to that amount through a streamlined process which allows for quick and easy access to draw on the approved amount when needed. We can facilitate access to line of credit financing from $5,000 up to $250,000.
* = Must have a current Merchant Account with Commerce Technologies or sign up for such services to apply for Business Funding.
1 = Loans not available in New Jersey, Montana, Nevada, Rhode Island, Vermont, North Dakota, South Dakota.
2 = Other restrictions for specific entity types on loan products may apply.
3 = Under MCAs - Min. Monthly Sales Refers to minimum credit card processing volume.
