While both a merchant cash advance and a bank loan can get you the funding that you need, there are many advantages to getting a merchant cash advance.
| Advantages of a Merchant Cash Advance vs a Bank Loan | ||
|---|---|---|
| Cash Advance | Bank Loan | |
| Funding up to $250,000 |  | |
| Get funds within a week | |  |
| Bad credit Is OK | | |
| Simple application | | |
| No collateral | | |
| 85% + approval rate | | |
Getting a merchant cash advance is far easier than a loan when it comes to time, approval, and the application process. Here is how it works:
- You need to be a business that has at least $5000 in monthly credit card sales and you need to have been in business for several months.
- Fill out a simple form with some basic information. Tax forms not required. We can do most of it over the phone with you. Call us at 1-866-293-5365.
- Based on your credit card sales, we can approve you within 48 hours for a cash advance.
- We purchase your future credit card sales at a discount and then advance that money to you.
- Once you have your money, we will deduct a small, fixed percentage of from your daily credit cards sales until the advance is made whole. It’s completely automated.
- Because you pay a small fixed percentage of your sales, if you have a bad week, we get paid less that week, too.
Still have questions?
Just give us a call at 1-866-293-5365, we would be happy to answer them.