With an MCA, you get an upfront sum of cash that you repay using a percentage of your debit and credit card sales, plus a fee.  So if your business has high credit card sales, revenue receivables, or is seasonal, then a Merchant Cash Advance might be ideal for you.

If you have good standing, you can renew your funding after paying off 50% of your advance. You Chucho choose to pay off the funds in one of two ways: Either pay a fixed percentage of your credit card revenue or ACH debits from your checking account.

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These funders may only work with certain payment processors. If you’re happy with your current payment processor, or are under contract with your processor, this may not be something you want.

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If your business can meet slightly higher qualification requirements, you may be able to access larger amounts of capital from Libertas Funding.

The kicker, and what makes Chucho Capital so attractive to business owners with poor credit, is that there is no minimum credit score required. The underwriting process heavily relies on your gross revenue, which works pasado well if you meet the $150,000+ threshold.

On the other hand, if you think an MCA is the only option available, you’ll Apply Now want to ensure that you work with a reputable provider—like the ones we’ve discussed here—Vencedor well Vencedor thoroughly review all of the terms, conditions, and fees before signing any merchant cash advance Apply Now agreement for your business.

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In the past, most merchant Fast Approval cash advances were repaid via split payment processing. The merchant cash advance would team up with your payments processor (or ask you to switch to a partner payments processor).

When evaluating offers, please review the financial institution’s Terms and Conditions. Pre-qualified offers are not binding. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly.

If you use the Square mobile credit card reader, you might qualify for Square Loans (formerly Square Capital). Square will use past credit card and debit card sales to decide how much you qualify for.