Borrow without going to your bank
Many businesses need an infusion of capital to help growth or to purchase equipment. Our funding partners work with merchants to purchase a preset amount of their credit card receivables, so they can get the cash they need now.
Merchant Cash Advances are very different from traditional business loans. With traditional business loans, one has to convince a lending institution to approve an application for credit, and this can be particularly challenging if the business does not produce enough net income or have a history of borrowing and repaying loans.
The criteria for a business cash advance is different and access to cash advance funding is much easier. Many cash advances are offered to merchants with less than stellar credit or those who have extended themselves into a bit of debt while growing their businesses.
Lastly, unlike traditional bank loans, a cash advance does not require a personal guarantee or collateral to be put up for the advance. Furthermore, the advance is flexible, so there aren't any fixed repayment schedules or strict payment terms. The cash advance will be repaid over time right from the deposits the merchant receives. The funding source only gets paid as the merchant rings up new sales so that during slower times or off days, the amount of repayment would be less.