Who Can Get a Merchant Cash Advance?
Ron Holt • April 24, 2018
Who should apply to get a Merchant Cash Advance?
Business Owners that accept credit cards and/or cash and checks for services or sales of merchandise.
This is one of the fastest, easiest ways to get risk-free capital. Better than a traditional loan. No collateral. Better than a life long partnership. This is not called a loan in 49 states, they are called Merchant Cash Advances. In California they are called loans.
No restrictions on use of proceeds.
Our solutions are ideal for small to medium size businesses who need cash to:
- Meet payroll
- Expand inventory
- Improve facilities
- Advertise
- Pay taxes
- Open a new location
- Pay operating expenses
- To buy out partnerships
- Purchase/maintain delivery vehicles
New businesses and new business types are regularly added to our portfolio.
Payments are automatic small daily deductions from your future Visa and MasterCard sales or merchant’s bank account. You get the working capital you need to grow and expand NOW, and you still have the cash flow for current needs. Business Profile and Transactions Minimum average of 8 to 10 batches or income related days per month Minimum processing average of $2,500 per month Business must have accepted credit cards for at least 3 months OR Been in business 6 months and provide 6 months banks statements or ACH withdrawals No open bankruptcies or large, unresolved judgments or tax liens. (We may still fund these with a Starter Program.) During the underwriting process we are required to fulfill certain obligations in order to approve each applicant. These procedures include but are not limited to: Merchant interview Landlord interview Reference checks Personal & business credit checks Site inspections UCC filing checks and confirmations
