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Retail/Mercahnt Cash Advance
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The aquisition of working capital for businesses by securing loans with banks and lending institutions and/or by purchasing a portion of their future credit card sales recievables. Generally, the merchant must be in business for a minimum of 6 months, have a minimum of 15 credit card batches per month and have minimum Visa/Master Card sales per month of $5,000.
The lender will review two to six months Visa/Mc/Debit statements of the business to determine the amount that is going to be funded.The funded amount can be as much as double one month's sales.The merchant will be required to pay the funded amount back to the lender on a monthly basis which is determined by the lender.These are usually short term advances but can be for substantially longer terms depending on the type of funding. There is generally no collateral required except the actual credit card receipts themselves. Other types of equipment and inventory cash advance programs are available.It is very important for a business owner to know what type of business loan is best-suited to meet his business'specific needs.Whatever your needs are, we can find a loan for you.
Create your own loan and a representative will contact you within 24 hours
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