Question: How long does it take to get the money after sending in an application for a merchant cash advance?
Answer: I hear this question almost every single time I talk to a potential client applying for a merchant cash advance and I completely understand why. When you apply for financing with a traditional lender, like the bank, there is a process and that process takes time…lots of time…so much time in fact that by the time you actually get that financing the summer will be over and that money you wanted to renovate your patio in order to take advantage of the unseasonably long summer most Canadian provinces saw this year, will no longer be needed. The banks are diligent, as they should be but the truth is, emergencies happen when you own a small business and sometimes you need access to capital quickly.
Most of our clients have been through the traditional lending process at least some point in their lives and are looking for something slightly easier and a lot faster. For that they’re willing to pay a little more for it. From the time you first inquire about a merchant cash advance to seeing the advance show up in your bank account can take as little as 2 business days – it all depends on how quickly applicants send in the information! So Company Capital’s official answer “As little as 2 days” but at the end of the day it’s up to you … and the speed of your scanners and fax machines.