Merchant Cash Advance
$2,000.00 - $1,000,000.00
Up to 12 months
Buy Rate 1.25 – 1.49%
As little as 24 – 48 Hours
It’s no secret that business owners are some of the busiest people around. An owner of a small business wears many different hats, often acting as the boss, the CPA, the manager, and more. Applying for a loan may consume time and energy you simply don’t have to spare. Even if you take the trouble to fill out an application, you may not qualify for the loan you were seeking, which means all that time and energy amounts to nothing. And sometimes, you don’t need a loan, but rather a way to pay your bills until your checks come in. A merchant cash advance can get you the finances you need in as little as one or two days with almost no paperwork involved. Business Loan Networks is proud to include merchant cash advances as part of our marketplace, helping you find the best financing for your needs.
When you need finances fast, a merchant cash advance can provide the solution. With a merchant cash advance, a funder provides a lump sum advance which the borrower agrees to pay back with a percentage of daily credit card sales.
Important Things to Keep in Mind:
While a merchant cash advance provides finances faster than almost any other means, it is also the most expensive loan on the market as fees are measured by a factor rate rather than an interest rate. A factor rate refers to the number you multiply your loan amount by to figure your total amount owed. A factor rate ranges from 1.14 to 1.48 on average with a merchant cash advance.
The repayment time frame for a merchant cash advance often lasts for 8 to 9 months, but may be as short as 4 months or as long as 18 depending on the details of your agreement with the funder.