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How Fast is a Merchant Cash Advance?

It is no secret that a merchant cash advance is a much faster than banks when it comes to getting funded. In fact, it only takes a fraction of the times it takes for a bank to process a loan.

One of the reasons it takes so long to get funded is because of the way bank loans are structured. For banks the approval of your loan is based upon your credit history. In order for them to determine your credit worthiness; they need to look into your credit history. I’m not talking about just looking up your credit report; they typically research your employment records, bank records, investments, real estate, business records, savings and so forth. This intrusive process can take several weeks.

A merchant cash advance is much simpler. Because this is an advance on your businesses credit card receivables; they primarily focus on your merchant statements. All they need to know is that you own the business, you do not have any tax liens, are not behind in your mortgage and they need to look at the past 6 months of merchant statements. That’s it.

In most cases, the entire process from start to finish takes between 3 and 7 days. Like I said; that is a fraction of the time it takes for the banks to process your loan.

Another benefit to this type of funding is that because they don’t rely solely on your credit history; you have a much greater chance of getting funded; particularly if your credit is less than perfect. In fact, most merchant providers boast a 95% approval rate.

If you have good credit and you do not have any time restraints on how soon you need the money; a bank loan may be a better option. But you must understand that it is becoming more and more difficult to get a business loan these days. Hopefully that will change in the near future. In the mean time, you can always get a merchant loan.

How does a merchant cash advance work?

	First, submit our easy two page application along with 4 months of your merchant statements.
	We will make an approval decision in less than 24 hours. If approved, your funds will be available in as little as 7 days.
	You will continue processing credit cards as usual and the repay is automatically deducted as a small percentage from your future credit card sales until it is paid back.
	Renew every 4 months and grow your business! Over 85% of our customers renew their merchant loans.