How Does a Merchant Loan Work?
Merchant loans were created especially for merchants. Therefore, the way that merchant businesses operate, coincides with the workings of a merchant cash advance. In order to understand exactly how merchant cash advance works, you must understand the five simple steps: Apply, review, fund, repay and renew.
Apply
Fill out our short 2-page application. It only takes about three minutes to complete.
Submit the last four months of your merhcant statements.
Review
We will reveiw your documents and based on your average monthly credit card sales, we will determine how much you qualify to receive.
The reveiw process usually takes about 48 hours and you can be approved for anywhere between $5,000 and $500,000.
Fund
Following approval, in a bout 7 business days, we will wire the funds into the acount of your choice.
You can use the funds however you choose. We will never ask you to present or prepare a business plan.
Repay
Repay your merchant loan through your business's daily credit card sales. A small percetage is automatically deducted when customers make credit card puchases
It typically takes 6 to 8 months for your merchant cash advance to be completely paid off.
Renew
When you've repaid at least 60 percent of your merchant cash advance, you can renew your funds and get, yet another lump sum of cash for your business.
Merchants usually become eligible for renewal 3 to 4 months after funding. From then on, you can renew as many times as you wish.