Funding Amount
$5,000 to $2,000,000
Payment Terms
Between 4 to 36 months
You Get Funds
Within 48 hours

What is a Credit Card Split?

It takes a lot of investment, working capital, and management to keep a business open and money flowing through the doors. Unfortunately, it can also take a lot of time to recoup the amount of effort you put in. This can cause your business to have months where monthly expenses and repayments are larger than the amount of revenue brought in. When this happens, you are left with a cash deficit and no way to pay all of your expenses. This is what leads to a lot of business closures.

One way to combat this type of financial situation is with a credit card split agreement, a great alternative to fund your business through your credit card sales. This method of funding is convenient because instead of a fixed payment, your payment is determined by a percentage of your sales making it more flexible to manage.

Business woman who knows about credit card splits and has used them for her business

How Does A Credit Card Split Work?

A credit card split loan works like a merchant cash advance in that you will receive an up-front payment of cash that is used to clear out all your existing debts. In turn, the lender will take a split of your credit card sales. These repayments will be calculated as a percentage of your credit card takings and will be taken from you on a regular schedule.

This is advantageous for the borrower as it means you will never have to worry about having enough to cover the payment as a slower month means a lower percentage taken. You can set up a flexible schedule with your funder to make it as hassle-free and stress-free as possible.

Why Choose To Take On A Credit Card Split?

The major advantage of choosing a credit card split advance is in the fact that there is no set or fixed monthly repayment required. Instead, the monetary contribution you make every month towards loan repayment is based on what you know you can pay. It allows your business to pay a certain percentage towards your credit card bills every month rather than the full amount, ensuring that you have flexibility in your cash flow while still paying off your debts in a professional manner.

Man with crossed arms

Other Advantages Include:

  • During lean times, your payments will decrease.
  • No fixed remittance.
  • No personal collateral is required to qualify.
  • Funds are disbursed quickly

You can use the additional cash flow that is freed up to tend to other business needs like inventory and equipment purchases, new hires and employee training, business expenses like computer software and supplies, marketing and advertising campaigns, product manufacturing, payroll, and taxes.

How Much Can You Borrow With One?

The total amount that applicants can borrow is between $5,000 and $2,000,000. The amount that you are approved for is dependent on what your business needs are, what the funds are going to be used for, and how established you are as a business.

Business man smiling because he just received a credit card split funding for his business

What Criteria Is Needed to Qualify?

There are a few points of criteria that you will need to meet to be successfully approved for a merchant cash advance.

Credit Score
As low as 550
Time In Business
3 months minimum
Monthly Revenue
$10,000 (minimum)

How Quickly Do You Get The Funds?

All successful applications for credit card split advances will receive their funds within 48-hours.

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Small business loans payment terms

What Are The Payment Terms?

With a credit card split agreement, the payment terms range from 4-months to 36-months and are based on a percentage between 5% and 15% of your credit card sales. The percentage is agreed upon during the signing of your advance with your funder. Generally, the payment terms will be impacted by the amount being borrowed and how long you will need to pay the balance back.

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