Below you will find some helpful facts that may answer your questions
Is a Merchant Cash Advance a loan?
Answer: No. You are not borrowing money from us. Instead we are giving you cash up front in exchange for a portion of your future credit card sales.
How much of an advance can I get?
Answer: The amount is determined by what your current credit card sales are. The higher they are, the more we can advance you. Other factors, such as how long you have been in business, your type of business, and if we have worked together before, can all help increase the amount.
How long do I have to be in business to qualify?
Answer: You need to have been in business for several months, and show you have fairly consistent credit card sales. As long as you have that, we can work something out.
What if my credit isn’t great?
Answer: We are not as concerned about your past as we are with how your business is doing right now. So even if you have bad credit, as long as you qualify, (see above) we will work to get you what you need.
How long does it take?
Answer: Once we get the information on the phone (866) 293-5365, or from your application, we can get an approved amount within 48 hours, often faster. And then you can get your cash after that as quickly as 7 business days.
How do I pay the money back?
Answer: It’s completely automated through your credit card system or bank account.
What if I want to pay it back faster?
Answer: If your business is doing really well, you can pay it off completely, and there are no penalty fees.
What if I have a really slow week?
Answer: Since you’re paying us back a percentage of your credit card sales, if you have a slow week, we get paid back less that week.
What are the disadvantages to a merchant cash advance over a traditional loan?
Answer: Since we are taking on more risk, and get your money to you much faster, it can be more expensive than a traditional loan. Being closed for business though, because you’re waiting for approval to buy a crucial piece of equipment, can be even more expensive.
Is this company approved by the Better Business Bureau?
Answer: Yes, as an established company with a strong track record, we have passed their rigorous requirements. Click this link to learn more about Capital Advance Solutions Better Business Bureau review.