Frequently Asked Questions
What is a merchant cash advance loan?
A merchant cash advance is a type of funding option where a lender provides a business owner with a lump sum payment in exchange for a percentage of their daily credit and debit card sales. It is commonly used as either working capital or any opportunity to improve your business by improving your space or purchasing new equipment.
How does a merchant cash advance work?
When a business owner receives a merchant cash advance, they agree to pay back the lender by allowing them to take a percentage of their daily credit and debit card sales until the advance is fully paid back.
How long does it take to receive funding?
Merchant cash advance loans are typically funded very quickly, with some lenders able to provide funding in as little as 24 hours.
What are the eligibility requirements for a merchant cash advance?
The eligibility requirements for a merchant cash advance vary depending on the lender, but typically include factors such as the length of time the business has been operating, its credit score, and its average daily credit and debit card sales.