How Cash Advance Works
A cash advance on your merchant account is a process where we purchase your credit cards sales of the future at a discounted rate which gives you a cash advance for your business. You repay the amount easily through a small percentage of each transaction of credit cards you make through your business until the amount is paid off. Many businesses take advantage of the cash advance option through their merchant accounts with us. This is not a loan we are simply pre-purchasing your credit card sales and paying you for them at a discount.
Qualifying for a Cash Advance on Your Merchant Account
There are a few requirements in order to qualify for a cash advance on your merchant account with us. You must have been in business for at least one year prior to your application for a cash advance and you must be generating at least $1,900 in credit card sales each month. You must also have no unresolved bankruptcies to your name in order to qualify.
Getting the Cash Advance—a Simple Process
It is easy to get a cash advance, first you must fill out a free application or give us a call. One of our specialists will call you back and request some information to help continue your qualification. Within 24 hours, you will have our approval decision and the amount of the cash advance we are willing to give you. Within a week of your approval, you will have the full amount funded to your account.
It only takes approximately a week to deposit the cash advance into your account once you have been approved. Then, the repayment process begins and is managed through your processing program for credit cards. Each time you process a sale through your Visa/MasterCard terminal, a small percentage of the profit will be deducted toward your repayment. You don’t have to worry about anything—it’s all completely automatic. There’s no worrying about amounts, limits or dates for the repayment. On top of it all, you can use the funds however you see fit, provided the spending is related to your business.
Call us at 1-800-774-7597 for more information or fill out the application form to get started.