From $10,000 to $5,000,000 within 3 days.
Merchant Cash Advance For Business Owners
Qualifying is as easy as 1, 2, 3!
Have you had your business for more than four months?
Do you have a fico score of 500 or above?
Are your annual sales higher than 150k a year?
If you answered YES to these three questions
You are on your way to qualifying!
Complete our simple online application and we will contact you immediately. Our application does not require you to provide any private or detailed financial information. Simply provide us with the basic required information and we will verify the cash advance amount you are eligible for.
What is a Merchant Cash Advance?
A Merchant Cash Advance (MCA) is an easy and quick way in which small and midsize business owners that lack collateral or have a low credit score to qualify for a conventional bank loan can obtain an upfront sum of cash. The borrower will then repay with a percentage of future credit and debit card sales processed through the business’ merchant account.
In reality, an MCA is not a business loan–it is a lump-sum of money provided by the lender in exchange for a percentage of the business’ future revenues.
A Cash Advance is an excellent alternative for any business owner with a low credit score (FICO) because it is a short-term loan that requires no collateral. Also, if you need working capital instantly, the approval process is faster than any other loans.
95% of Applications Approved – You’re Just One Click Away
How a Merchant Cash Advance Works
As a business owner, I’m sure you recognize the importance of having money available in case it is needed. If you have to make urgent reparations or buy new equipment that will make your job easier and increase your revenue, then you’re going to need some capital to cover those expenses. If you have the money, excellent, but, what if you don’t?
The first thing that comes to mind would be getting a loan from the bank. However, banks are denying loans to business owners in record numbers, leaving them frustrated and with no options.
Securing financing for your company should not be hard, especially if you are facing problems that could threaten your business.
Luckily, alternative lending institutions like GoKapital have loan programs made for business owners that could use some extra funds to enhance the performance of their business.
One of those types of loans is a Merchant Cash Advance.
While a cash advance is not technically a loan, an MCA is perhaps the quickest and easiest way to obtain working capital for your business.
When you get a cash advance, the lender will give you a lump sum of cash in exchange for a percentage of your future debit or credit card sales. Then, the loan can be repaid by automatically debiting the agreed amount daily or weekly from your business’ merchant account.
Before the MCA lender transfers the funds into your account, he or she will provide a detailed loan agreement form showing the advance amount, the amount you are expected to pay back, and the loan term.
Opposed to fixed payments loans, in a cash advance the agreed amount is automatically deducted from the daily sales generated on your merchant account until the advance is paid off.
How To Apply for an MCA with GoKapital?
Once you submit the application form, we will determine if you qualify for the program and how much capital you can get. If your application is approved, we will transfer the funds to your bank account.
You can apply for a cash advance online or do it in our office in Miami.
Below is the detailed application process:
Step 1. Complete the business loan application form
Fill the loan application form with basic details like your name, social security number, business tax identification number, business location, and any other essential information regarding your business.
Step 2. Provide 4 months of business bank statements
Submit the documents that will be used to assess your business’s financial health as well as your identity. Some of the documents include your government-issued ID, and a statement showing your business’s credit card transactions.
Step 3. Approval process
After completing the loan request form and providing the necessary documentation, a loan specialist from Extreme Funding Systems will approve the advance.
Getting approved for an MCA with us is really easy. Take a look at some of the features that our cash advance program has for you:
Factor Rates: 1.07 – 1.40
Terms: 3-24 months
Loan Amounts: $5,000 – $5,000,000
Time to fund: As Little as 1 Business Day
Time in Business: As little as 3 months
Existing Advance: No Problem
Tax Liens Acceptable: Yes
Industries Funded: All
Repayments: Daily, Weekly, or Monthly
Collateral Required: No
Restrictions on Uses: No