Frequently Asked Questions - Merchant Cash Advances
What is a Merchant Cash Advance?
Merchant Cash Advance (factoring) are one of the most reliable forms of business funding, and have existed you many years.
It's different from a regular loan, and is a cash advance based on the average volume credit card transactions of your company processes each month.
In most cases we can help you to get a business loan even if you don't accept credit card payments from your customers.
What are the benefits of a Merchant Cash Advance?
Very Fast Approvals - normally within 24 hours
Super Fast Funding - after approval (normally within five business days)
Great Flexibility - use your cash advance for any business purpose
How can I qualify for a Merchant Cash Advance?
Although we can be flexible, most Credit for Merchant's applicants have:
|Been in business for more than four months|
|Two business references|
|Average monthly credit card sales of more than $5,000|
|Four recent credit card processing statements|
|Ability to show rent/mortgage payments are up-to-date|
Can I use my Merchant Cash Advance for any business purpose?
Yes! No matter what you need your funds for; Whether it's paying off bills, buying new equipment, expanding your business, or even adding new staff your Cash Advance can be used in any way you choose.
Does my credit score affect my eligibility for a Merchant Cash Advance?
No. Your Merchant Cash Advance is not the same as a loan, so your credit score has no affect on your application.
Do I receive monthly bills for repayment of my Merchant Advance?
No need! Repaying your Merchant Advance is so simple. You get to choose your terms, and a fixed percentage of your credit card receipts is collected each day.