Get a Merchant Cash Advance Today 888-410-5358
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Cash Advance NewsMerchant Capital Options provides funding to six unit chain restaurant franchisee to acquire a new location What is a Cash Advance?Cash Advance FAQ - Get Answers to All Your Cash Advance QuestionsExactly what is a cash advance? This Cash Advance FAQ page was created to answer some of the most commonly asked questions about Merchant Capital Options' cash advance product and services. If you need additional information, please feel free to call us at 888-410-5358 or fill out the quick form on this page.What is an Electronic Payment Cash Advance? An electronic payment advance is an upfront cash payment against future credit card processing. How does the program work? Our cash advance program offers a fast and flexible way for business owners to get the cash they need to run their company. It is not a loan, which means no checks to write, no maturity date and none of the paperwork a bank would collect to close a loan. Once you've been approved for an advance, Merchant Capital Options wires the advance directly to your operating account. Every day, we deduct a fixed percentage of your electronic processing sales receipts from your electronic processing account until the pre determined payback amount is satisfied. We get paid as you get paid. How can I find out how much my business qualifies for? Our basic qualifications are that you must have a physical location, be in business for at least four months and you must have at least one year left on your lease. What is a cash advance used for? Advances can be used for a variety of business related purposes including regular operating expenses, meeting cashflow needs in off peak seasons and expanding your business. You are free to spend the money on whatever is best for your business. How soon can I get the money? Funds can be advanced as fast as 3 business of the receipt of a full application package and materials. Do I need to change credit card processors? You do not need to change credit card processors. Is the cash advance amount only based on credit card sales? Yes. The advance is not based on checks or ACH payments. Do I get a penalty if I pay early? This is not a loan; therefore there is no prepayment penalty, no fixed payment schedule, no maturity dates, and no minimum monthly payments. At any time, you can choose to settle the advance by paying us the balance of what you owe. How much will a business cash advance cost? This is not a loan and there are no maturity dates or interest payments. Advances are based on a discount on future expected credit card receipts. Pricing is based on a multitude of factors including but not limited to, business size, industry, chargeback history, volume, ticket size, and various other important details of determining the probability of the business operating in the future as it has in the past. Do I have to pay any fees to get an electronic payment advance? There are no appraisals, closing costs or any other hidden fees. Will bad credit affect my cash advance request? An electronic payment advance is not credit score driven, therefore it is not necessary for you to have good credit to receive an advance. A poor credit rating will not normally influence our decision. How often do I have to make payments? You never have to write a check- you pay us our agreed upon fixed percentage from your daily electronic processing until the amount we agreed upon for repayment is satisfied. We get paid as you get paid. Whom do I call with questions about my account? Contact Merchant Capital Options at 888-410-5358, or email us at info@merchantcapitaloptions.com. Interested in learning more, contact Merchant Capital Options today! |
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