Frequently Asked Questions

see also... "Business Cash Advance Benefits"

  1. What is a business cash advance/merchant cash advance and how does a business cash advance work?
  2. How does business cash advance/merchant cash advance effect my current credit card merchant account?
  3. How long is the approval process for a business cash advance or merchant cash advance?
  4. How much money can I qualify for?
  5. I have a low credit score; can I still get a business cash advance or merchant cash advance?
  6. What are the basic qualifications for a business cash advance or merchant cash advance?
  7. Are there any up-front fees associated with applying for a business cash advance or merchant cash advance?
  8. What is the difference between a business cash advance/merchant cash advance and a small business loan?
  9. How do I repay the money from the small business cash advance or merchant cash advance?

  1. 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.

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  2. 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.com’s preferred processors.

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  3. 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.

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  4. 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.

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  5. 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.

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  6. 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.

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  7. 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 or merchant cash advances with Business Cash Advance.com.

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  8. What is the difference between a business cash advance/merchant cash advance and a small business loan?
     Cash Advances and business loans are very in different in several ways. See below:

    Information

    Conventional Loan

    Merchant Cash Advance

    Financial Statements

    Detailed Financial Statements
    for 2-3 years

    Financial statements NOT required

    Audited Tax Returns

    Audited Tax Returns required for 2-3 years

    Audited Tax Returns NOT required

    Time in Business

    Must be in business for a
    minimum of 2-3 years

    Just need to be in business for at least 9 months

    Personal Guarantees

    Personal Guarantees of all owners

    ONLY Guarantee against fraud or intervention

    Approval Process

    Lengthy Approval Process

    24-48 hours for approval

    Application Fees

    Costly Application Fees

    NO application fees

    Credit Scores

    High Credit Scores Required

    Proprietary Scoring system does NOT require high credit score

    Closing Costs

    Costly Closing Costs

    Minimal fee paid only if account funds

    Collateral

    Collateral of all Business Assets

    ONLY future credit card sales

    Application

    Lengthy and complicated application

    ONLY Non-binding application and copy of last four months credit card processing statements

    Payment

    Fixed Monthly Payment

    Repayment based only on credit card sales

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  9. 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.

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Call Business Cash Advance.com today toll free at 866-411-0606 or fill out
our on-line application and one of our Funding Advisors will contact you.

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