You will need: 1 page signed application, 6 months of credit card processing statements, 2 recent months of business bank statements (6 months bank statements if not processing credit cards).
The average size of our cash advance is about $25,000, although cash advances range from $3,000 to $100,000.00
Once the agreement is signed it usually takes 2-3 days until the money is sent directly into the business account of your choice and is received as early as the next business day.
Over 85% of our applicants get approved and funded in less than 5-7 business days. Our review standards are streamlined to provide an expedited approval process that requires minimal documentation. Qualification is fast, simple and easy. Not only have that, but the overwhelming majority of our funded businesses chosen to do business with us again.
Pre-approval is usually done the same business day. Funding takes two to three business days depending on the amount of the transaction. All in all, we can fund your business in less than a week!
Qualifying for a Merchant Cash Advance is far easier than a bank loan. No checks are ever written, no late fees or hidden fees. In addition, there are no personal guarantees, no loss in equity or need to post collateral to secure the cash advance. Also the documentation is minimal compared to the extensive “hoops” that a traditional lender makes business owners jump through. And the best part is that the approval comes within 48 hours.
An agreed upon percentage of your credit card processing is sent directly from your processor to us or an agreed upon daily ACH is taken out of your bank account until the cash Advance is paid in full.
It advances cash to merchants based on anticipated future sales, offering an alternative to the traditional bank loan. With a Merchant Cash Advance – which is not a loan – businesses receive a lump sum in return for a percentage of their future revenue.
Many small business owners are unable to obtain traditional bank loans because they have insufficient credit or collateral. As a result, more and more businesses have been turning to Merchant Cash Advances for infusions of working capital or other immediate cash needs. Being able to obtain financing is the driving force behind the US small business economy.
Yes, your car will be inspected, but please leave the hard work to us.
You must be at least 18 years old, have a valid driver license or State ID, gainfully employed and proof of residence.
If we are unable to approve your unsecured loan application, you have the option to use your car as collateral as long as your car title is free and clear of liens and is paid in full. Using your free and clear car title as collateral makes it convenient to get a loan from us even with poor or bad credit. When using your car as collateral, your credit score and/or credit history does not matter.
Monday – Friday from 9:00 a.m. to 5:00 p.m. However, you have 24/7 access to your online account.
No. There is no prepayment penalty.
Our loans range from $500-$25,000.00
Yes. You can only take out one loan at a time.
No. You cannot refinance your loan through us.
Yes. You have 24 hrs days to cancel your loan and return the original amount given to you with no further obligations but $25.00 administrative fee applies.
Yes. There are such fees on all our loans. In fact, most companies charges such fee, but the name may vary from administrative costs, loan fee to loan origination fee.
If your loan application is denied, you will receive a letter in the mail within 3-7 business days detailing the reasons for the denial. You will not be considered for a smaller loan amount if your application is denied.
Approval decision is not solely made based on credit score, we look at the whole picture such as positive payment history, monthly salary and your debt ratio.