Our most flexible financing solution – we let you choose the rate
If you accept debit and credit cards and you’ve been in business for at least 6 months you probably qualify for a Merchant Cash Advance.
We provide you with a lump sum payment today in exchange for a small share of credit and debit card sales for the next 6-12 months.
A Merchant Cash Advance is a relatively new and really unique alternative to a traditional small business loan. It is designed specifically for retailers who accept daily credit and debit card transactions as payment – like restaurants, clothing stores, or hardware stores for example.
The financing amount available is based on your average monthly debit/credit card sales. Most businesses qualify for up to 1.5 times their average monthly sales.
The most unique feature of a merchant cash advance compared to a typical small business loan is the payment plan. With a merchant cash advance, you make small “micropayments” every day based on an agreed upon percentage of yesterdays’ sales. Pay less on slow days, more on busy days. Payments are automated and fluctuate with sales so there is no fixed lump sum amount at the end of the month – they continue every day until the total amount plus the fee has been collected. You can also choose how long you need to repay up to 12 months.
Based on the amount you need, the repayment you can manage, and time you need to repay, the total overall cost is determined.