Merchant Cash Advance
A merchant cash advance is a fast and easy way to acquire funding for your business, even if your credit scores aren't good. No collateral is needed.
A maximum funding amount up to $5,000,000
Repayments collected daily via your merchant account.
Repayments collected via your merchant account or ACH
Funding arrives as little as one day.
Apply Now
Apply
Fill out our form to start the qualification process.
Review
One of our agents will review your application and get you the best rate available.
Approved
Receive working capital for your business in as little as 24 hours.
How Do I Qualify For a Cash Advance?
Merchant cash advance providers tend to have easier eligibility standards. For this reason, small businesses won't have much trouble applying and qualifying.
An MCA is also ideal for a business that acquires much of its revenue through credit card payments. Restaurants or retail stores is a better example of businesses that can benefit from a cash advance as a short-term financing tool. Availing an MCA helps with your working capital, debt payments, and many more.
Most businesses who received approval had:
Credit scores of 500 or more
Annual revenues that exceed $180,000
Been doing business for at least six months
Applying for a Merchant Cash Advance
The majority of merchant cash advance applications are done through the internet. Also, the possibility of getting approved on the same day or within hours is reasonably good.
Some documents we require include:
Credit scores
Credit card processing statements
Voided business check
Bank statements
Driver’s license
Ready to get the funding your business needs?
Apply Now
The Basics of Merchant Cash Advance
Merchant cash advances aren't loans. They're advance payments against the business' future income.
Applying for a business cash advance can be your shortcut to business funding. It's a convenient option for growing your business.
We, at Merchant ReFi, take pride in our diverse marketplace. We are all about helping all sorts of business owners fund their own business. If waiting for the conventional loan doesn't fit in your schedule, a business cash advance is your quick solution.
Merchant Cash Advance Fundamentals
In a merchant cash advance, you are provided with a lump sum that’s repaid automatically through a percentage of your daily credit card receipts. This percentage is referred to as the retrieval rate or remit. This can be anywhere from 5%-20%. The retrieval rate or remit percentage is based on your business’ credit card sales, repayment term, and based on the size of the advance. Repayments begin after you receive the funds.
Business cash advance providers review your receipts over the past three to six months to calculate your eligibility for a merchant cash advance. Generally, a cash advance can range from 50%-250% of a business’ credit card transactions.
But while a merchant cash advance is undeniably one of the quickest and easiest financing options, it’s also one of the most expensive loans on the market.
Advantages of a Business Cash Advance
A business cash advance has several features that make them preferable for some people, as a source of funds. Some of the benefits you can garner by availing a cash advance include:
- Quicker funding: potential for approval and funding is much faster; sometimes rendering a final decision within hours and delivering the funds straight to you right after.
- Frank application process: you can apply for an MCA online. It’s as easy as completing the form and uploading supporting documents that are required.
- Perfect credit isn’t required: where credit cards are concerned, MCA lenders are more lenient.
- Lenient payments: what you pay is proportionate to how much your business is earning.
- Greater borrowing limits: in terms of how much you can borrow, merchant cash advances can have a borrowing limit of up to $2,000,000.
Should You Consider a Merchant Cash Advance
As mentioned before, merchant cash advances are ideal for businesses that are just starting or need fast access to cash.
On the upside, you repay a smaller amount of money during the weeks and months when businesses are slow — unlike other loans.
What’s In It For You
Your small or even medium-sized business has financial obligations. We recognize that and our merchant advance can help! You can use your advance for anything related to your business — such as real estate, taxes, payroll, and more — and you can get it as soon as you’re approved.
Merchant ReFi
Not sure how to find working capital? Merchant ReFi is the answer. Get merchant finance as soon as you’re approved — which is often the same day you apply — and repay your merchant advance easily through small percentages taken out of your company’s credit card transactions or through a fixed ACH debited to your bank account. We’re business lenders who are here to help your business succeed.
