Merchant Cash Advance is a type of business loan which is usually presented as being a factoring product, where a Cash Advance company will review a merchants credit card processing statements in order to determine how much revenues are coming into a merchants business via the merchants credit card revenues / payments / sales, (they will also look at how much revenue is streaming into the business from cash & check payments / sales) they then purchase future credit card payments to the merchant at a discount.
For example: if a merchant is processing an average of $10,000 each month, when the merchant is approved the cash advance company will pay the merchant $10,000 (essentially giving the merchant a $10,000 cash advance) for anywhere from $11,200 to $15,500 (or more) of their future credit card sales income.
What Is Merchant Cash Advance?
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13 comments:
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it's possible that a community bank loan under this program might be made to a business that is not qualified as "small," I'm guessing it's not likely. Under the Small Business Jobs Act, qualifying loans (up to $10 million) may be made to applicable business that are "small" -- meaning, the business has annual revenues of $50 million or less. As always, though, an institution lending under this program, should verify compliance with the Act's requirements. I don't see this affecting relationship banking.
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If you are low on cash and need working capital to fund operation quickly. Merchant Cash Advance is the best solution for you!
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