What is a business cash advance, also referred to as merchant cash advance, and how does business cash advance work?
A business cash advance, also referred to as merchant cash advance is a convenient alternative to a traditional small business loan. It is cash given up front to businesses when they need it, and is based upon the cash flow from monthly credit card sales charges. Monthly payments don’t need to be made like small business loans; instead small debits are automatically taken from batched credit card sales.
How does business cash advance, also known as merchant cash advance effect my current credit card merchant account?
Business Cash Advance.com has agreements with most of the processing firms in the nation. In the rare cases of businesses using a processor with whom Business Cash Advance.com does not have an agreement, you may be asked to change to one of Business Cash Advance.comes preferred processors.
How long is the approval process for a business cash advance/merchant cash advance?
Once all documents are received, Business Cash Advance.com will review to determine the cash advance amount in as little as 24 hours.
How much money can I qualify for?
The total business cash advance or merchant cash advance amount is based on your recent business history. Business cash advances/merchant cash advances range from $3,000 to $300,000 with the majority of businesses receiving $20,000 to $30,000. See how much you can qualify for with our online business cash advance prequalification calculator.
I have a low credit score; can I still get a business cash advance or merchant cash advance?
Yes. While a personal credit check is part of the Business Cash Advance.com approval process, it does not weigh heavily in the final determination. Unlike a small business loan, business cash advances mainly base approval on your overall business health.
What are the basic qualifications for a business cash advance or merchant cash advance?
Business Cash Advance.com works with small businesses that accept credit cards and process at least $5,000 in Visa and/or MC sales per month.
Are there any application fees associated with applying for a business cash advance or merchant cash advance?
There are no application fees or out-of-pocket costs associated with business cash advances
How do I repay the money from the small business cash advance or merchant cash advance?
Repayment is made by automatically debiting an agreed percentage of your credit card sales every time you batch. There are no fixed payment schedules; you pay when your customers pay.
Monday, October 11, 2010
Business Cash Advance
A business cash advance, also referred to as merchant cash advance is a convenient alternative to a traditional small business loan. It is cash given up front to businesses when they need it, and is based upon the cash flow from monthly credit card sales charges. Monthly payments don't need to be made like small business loans; instead small debits are automatically taken from batched credit card sales
The Payday Loan Process
First time cash advance customers, educate yourself on the payday loan process.
Step 1: Submit a completed 2 part application by completing clicking to apply online now.
Step 2: You are contacted by the lender that best fits with your loan request.
Step 3: The representative will confirm information on your application and let you know the amount you have been approved to borrow.
Step 4: Check your bank account the same business day and get access to the cash you need. That's it!
To qualify for no fax payday loans, you must meet the requirements stated in the first part of the application form. By default these are all set to yes, but it is important that you read all of them before actually submitting the first part of the application.
To complete the application you will need to have the following information.
Bank Information including your bank name, routing number, and account number. This information is used to provide your payday advance and also collect the money on your next payday. The name of your employer as well as their phone so they can be contacted if necessary Your home address and social security number
What's the next step?
Now that you know what it takes to get started, complete an online payday loan application and we will make sure to get started on your request. Don't forget to fax in your documents right after so we can have your money to you the next day.
Step 1: Submit a completed 2 part application by completing clicking to apply online now.
Step 2: You are contacted by the lender that best fits with your loan request.
Step 3: The representative will confirm information on your application and let you know the amount you have been approved to borrow.
Step 4: Check your bank account the same business day and get access to the cash you need. That's it!
To qualify for no fax payday loans, you must meet the requirements stated in the first part of the application form. By default these are all set to yes, but it is important that you read all of them before actually submitting the first part of the application.
To complete the application you will need to have the following information.
Bank Information including your bank name, routing number, and account number. This information is used to provide your payday advance and also collect the money on your next payday. The name of your employer as well as their phone so they can be contacted if necessary Your home address and social security number
What's the next step?
Now that you know what it takes to get started, complete an online payday loan application and we will make sure to get started on your request. Don't forget to fax in your documents right after so we can have your money to you the next day.
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