Merchant Cash Advances : a flexible solution in the event of a financial rough spot
Merchant Processing Loans at a Glance
- Can be used for any business-related purpose
- Young businesses can qualify
- Your credit score can be as low as 500
- The loan term is a 4-month minimum
Empower Lend provides Merchant Cash Advance loans to help businesses cover any type of expense, from disaster recovery to simply growing a business.
Find the Lowest Rates
on Merchant Processing Loans
FAQ for Merchant Processing Loans
What is a Merchant Processing loan?
A merchant cash advance (MCA) is a lump-sum loan that a business or merchant repays by automatically drawing on a percentage of future debit and credit card transactions. Typically, cash advance loans have a shorter repayment period compared with other business financing options, as well as smaller and more frequent payments.
How does a Merchant Cash Advance work?
When it comes to cash advances for small businesses, your credit score won’t be the only factor that comes into play. In fact, even if you are applying for a merchant cash advance, sometimes loan providers will not consider your credit score at all. What borrowers are mainly looking at is your monthly profits and, more specifically, the amount of credit and debit card transactions your company reports every month.
After your advance is funded, the company will pay back the loan amount incrementally by automatically drawing a certain percentage of the potential credit and debit card transactions. The repayment period for advance financing of merchants depends on the percentage drawn from those card transactions as well as the initial loan amount, but can be as short as 4 months.
What can the merchant cash advance be used for?
There are no restrictions on how you choose to use the cash. Common uses include the purchase of inventory, purchase of equipment, remodeling, expansion, advertising, payoff debt and taxes.
What do I need to qualify for a Merchant Cash Advance?
Your business must be processing credit cards for 60 days and process a minimum of $7500 per month.
Same Day Approval
It only takes minutes
We Evaluate Your Business Goals and Revenue for Approval
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