Frequently Asked Questions
Is a merchant cash advance a loan?
No. While it may feel similar, it is not technically a loan. It does not accrue interest and instead uses a fixed cost of capital.
How much funding can I qualify for?
Most businesses qualify for 1 to 2 times their average monthly revenue based on the last 6 months.
How are payments made?
Payments are typically made daily, weekly, or monthly depending on your cash flow.
Do you charge interest?
No. Instead of interest, there is a fixed cost (factor rate), so you always know exactly what you’ll repay.
What happens if I miss a payment?
There are no late fees or added interest. Missed payments are simply added to the end of your term.
Can I use the funds for anything?
Yes. You can use the funds however you choose – business or personal needs.
Is collateral required?
No. These are unsecured advances, so no collateral is required.
Can I qualify with bad credit?
Yes. Approval is based primarily on your business revenue, not your credit score.
How fast can I get approved?
Most approvals happen within the same day or within 24 hours after submitting documents.
How can I get approved within 1-2 days?
Approval timelines depend on the completeness and accuracy of your application. To avoid delays, please ensure all sections are fully completed. Missing information – such as your Federal Tax ID (Section A), requested funding amount, or average gross monthly sales (Section F) – may require follow-up and delay processing.
What do I need to apply?
You only need 6 months of business bank statements and a completed application.
Can I submit personal bank statements?
No. Approval is based on business bank statements only.
Can I get more funding later?
Yes. Once you’ve repaid about 30–35%, you may qualify for additional funding.
Is there a prepayment penalty?
No. In fact, you may receive a discount if you pay off early.
