Merchant Cash Advance Funding Questions
We provide working capital for businesses who may be having a hard time getting a loan from a banks or leasing companies.
How does a Merchant Cash Advance work?
We purchase up to $5,000 to $500,000 of your future credit card receipts at a discount.
You pay us back with a set percentage from your daily credit card sales. (The withholding percentage is based on the cash advance amount and the average monthly credit card processing volume)
See if a business cash advance is right for you and your business. Fill out our online application and one of our financial representatives will contact you to discuss your options, and pre-qualify you over the phone.
How do I qualify for a business cash advance?
If you accept credit cards and have been in business for at least 6 months, you may qualify for a merchant cash advance! No collateral required and no traditional personal guarantees. NO set payback time period or NO set monthly payment amount. It doesn’t matter if you don’t have a great credit score, since we do not report to any credit agencies.
How much working capital can I get?
Merchant Funding can be from $5,000 to $500,000 depending on your credit card processing volume.
How do I apply for a cash advance for my business?
Complete the online application form. A knowledgeable representative will contact you quickly and pre-qualify you over the phone. You will then be sent the formal application, simply complete the application and send it to us along with:
- your last 6 months merchant account statements
- a copy of your business license
- a copy of your business lease
- a voided check
- a copy of your drivers license
How do I pay off the merchant advance?
We take a set percentage from your daily Visa/MasterCard Sales, that way we roll with your business to help with cash flow. (No fixed payments and no set time period). We are compatible with most of the popular credit card processors, specificly we are compatible with Crescent Processing and also work with PaymentSphere. The withholding percentage is based on the merchant cash advance amount and your average monthly credit card processing volume.
Can I get a deal like a bank loan?
Fast Merchant Advance is not a bank, while a merchant advance is sometime referred to as a merchant loan, it is important to note that this is not a business loan. We are a cash advance company and only offer business cash advances, not bank loans.
Do I have to change credit card processors to be on this program?
If your current processor is not already certified on this program you will need to switch your merchant services to our processing service. OUR PROMISE: We will beat your current merchant account rates and save you money on your credit card processing! Off setting the cost of the cash advance.
How quickly can I get funded?
Typically funding takes place within 72 hours after approval. The funds are direct deposited into your business checking account.
How do I get started?
To get started simply fill out the easy one page application and a representative will get in touch with you ASAP.