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What is a Merchant Cash Advance?

With a merchant cash advance, a financing company advances you capital in exchange for a percentage of your daily credit card sales, plus a fee. Merchant cash advances can be quick, easy ways to get a business cash advance with no need for collateral—even if you don’t have a great credit score.

$2.5K - $250K

Maximum Loan Amount

Daily repayments  

Loan Term

1.14 - 1.49

Interest Rates

As little as 2 days

Speed

Things to consider

PROS

  • Quick access to funds
  • Easy approval process
  • Bad credit is accepted
  • Suitable for a wide range of business purposes

CONS

  • Higher fees than with traditional loans
  • Higher fees
  • Daily deduction of credit card receipts reduces cash flow

Most customers who were approved had

Annual Revenue

Over $60K

Credit Score

550

Time in Business

Over 2 years

Compared to other loan types 

Loan TypesMax AmountInterest RateSpeed
SBA Loan$5K - $5MStarting at 6.75%As fast as 3 weeks

Commercial Lending$25K to $5M7% - 30%As fast as 2 days
Invoice FinancingUp to 100% of
invoice value
8% - 30%As little as 1 day
Line of Credit$10K to over $1M7% - 25%As little as 1 day

Merchant Cash Advance$2.5K - $500K1.14 - 1.49As little as 1 day
Business Credit Card$500 - $250K0% - 25%As fast as 7 days