What is a merchant cash advance same day funding?
Merchant cash advance sane day funding, merchant is selling a fixed amount of Your future revenues to the cash advance company. And We take a small percentage every day of your gross sales until we get the total amount of future revenues that we’ve purchased from you.
You know, the beauty of the product is that it enables you when your sales are down or slow because of seasonality to pay less.
And when your sales pick up, you have to pay us a little more. So very often it’s a much more, it’s much more of an affordable product for a merchant like you.
What documents do we need?
- Last 4 Month bank statements
- Filled application
- Credit Score
What do we need to fund you?
- 6+ Months in business
- Minimum 500 credit score
- minimum $10000 monthly revenue
how much does merchant cash advance same day funding costs ?
A merchant cash advance same day funding is truly convenience capital. It’s not meant to replace traditional funding sources, but to supplement them in order to take advantage of strategic opportunities, expand business capabilities, or solve unexpected problems.
Often, small business owners pass on chances to expand their business take part in a new marketing campaign they know will drive more sales, when you calculate the potential extra profit made by these opportunities, the cost of a merchant cash advance is not only covered but the lasting impact on the business. A merchant cash advance is calculated by Its factor rate, it usually starts from 1.15 to 1.35. Now multiply the factor rate with your borrowing amount. It will give you the exact result.
How long does merchant cash same day funding take to finish the term?
It Normally takes 4 to 18 months paying daily weekly and monthly