Funding Amount Icon
Funding Amount
$5,000 to $2,000,000
Payment Terms Icon
Payment Terms
Between 3 to 24 months
You Get Funds Icon
You Get Funds
As fast as 24 hours
Business Owner holding a cup of coffee as he smiles

What is a Merchant Cash Advance?

As a business owner, one of the major hurdles you must overcome is where and who to source funding from. While there are plenty of options available, such as large banks, private lenders, and credit unions, these sources tend to have strict acceptance criteria that you must meet. Unfortunately, these guidelines can be stressful and overwhelming to keep track of, especially if you are just trying to expand, purchase new equipment, or simply inject growth into your business. To avoid being overwhelmed by business loans with high-interest rates and high acceptance criteria, consider getting a merchant cash advance instead. This is a flexible source of funding that helps you get the most out of our money while allowing you to take advantage of new business opportunities that come your way.

How Does A Merchant Cash Advance Work?

Permitting that you qualify and are approved, an agreement will be made with the merchant cash advance funder regarding the advance amount (lump-sum payment), the payback amount, and the holdback percentage. Once the agreement has been approved and signed, the merchant cash advance is transferred to your business account. This amount can be fully accessed by you as soon as it is deposited into your account, giving you full confidence in making high-cost purchases, investing in upgrades, or going ahead with business opportunities.

In exchange for the merchant cash advance, repayments will come from a future percentage of receivables, either from your credit card or debit sales. A percentage of these sales will be put on a “holdback” (withheld) and used to pay back the merchant cash advance. There is no collateral required like a traditional business loan.

Since the repayments are based on a percentage of monthly sales, the more a business earns, the quicker the advance can be paid off. Likewise, if transactions are lower than expected, the percentage that is withheld will be less, ensuring that businesses that have slow times will still be able to pay back the advance without difficulty.

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.

Funding Amount
$5,000 to $2,000,000
Time In Business
3 months minimum
Monthly Revenue
$5,000 (minimum)

Why Choose to Get A Merchant Cash Advance?

A merchant cash advance is a fantastic option for businesses who are in the following situations:

  • Looking to expand the business premises or upgrade equipment and need to make full payments upfront for services.
  • Need flexible repayment terms for the slower seasons.
  • Would rather commit to a percentage of sales than a fixed monthly repayment.
  • Businesses that have unpredictable sales volume from month to month.
  • Businesses that need extra cash flow for expenses.
  • Businesses who are renovating or remodeling their premises.
  • Businesses that are looking to launch a new location, train new employees or upgrade company vehicles.

What Is The Total Amount One Can Borrow?

The total amount applicants can borrow ranges from $5,000 to $2,000,000. The actual amount that you get approved for will be determined by your business needs and your financial situation. The idea here is to only provide you with funding that you will be able to pay back, helping you get ahead without becoming overwhelmed by large repayments. If you apply for more than what you need or for more than what your business can repay, your application is at risk of being rejected.

Applying for funding for small business in FL

How Early Can You Receive The Funds?

Approved applications will receive the full payment of their merchant cash advance within 24 hours of approval.

What Are The Payment Terms?

The agreed-upon payment terms are based on the total amount borrowed and how much your business earns every month. Repayment terms range between 3-months and 24-months.

Merchant Cash Advance for Florida Businesses
Small Business Administration Loan in South Florida

Providing a Better Way For Businesses to Access Working Capital