HOW IT WORKS
Merchant Cash Advance Knowledge Base
- Who can answer my questions, or help me start the funding process?
- I already have a cash advance with another company, can I still qualify for additional merchant cash advances?
- Is there any prepayment penalty for paying back the advance early?
- How quickly can I get the money?
- How much can I qualify for?
- How long will it take to find out if I am approved?
- Why do you perform a credit check?
- Can I qualify if I have bad credit?
- How much do you charge? What are your fees?
- How much will the money cost?
- Do I need a business plan to obtain working capital?
- How can I use the money?
- How do I apply?
- How can I qualify?
- What is a Merchant Cash Advance?
Who can answer my questions, or help me start the funding process?Back to Index
I already have a cash advance with another company, can I still qualify for additional merchant cash advances?
Yes, it is possible. We can pay off your current cash advance and give you the remainder of your available funded amount.Back to Index
Is there any prepayment penalty for paying back the advance early?
No, there is no penalty for early payoff. You can repay anytime you wish.Back to Index
How quickly can I get the money?
Once approved, you will receive the funded amount within a few hours.Back to Index
How much can I qualify for?
We will look at your total sales for the last 4 months and make a determination that is generally between 50% and 150% of your average monthly sales.Back to Index
How long will it take to find out if I am approved?
Once the application and documentation are received, an approval notice typically takes approximately 24-72 hours.Back to Index
Why do you perform a credit check?
We only do a soft credit pull so you can find out what loan products and rates your business will qualify for before we have to do any hard credit pulls. A soft credit pull doesn’t affect your credit, but gives us enough information to provide you with relevant options.Back to Index
Can I qualify if I have bad credit?
We look more at your revenue forecast than your credit score. We can work with most businesses as long as you have a credit score of 550+.Back to Index
How much do you charge? What are your fees?Back to Index
How much will the money cost?
The cost depends entirely on the terms and rates you qualify for.Back to Index
Do I need a business plan to obtain working capital?
No business plan is required to obtain merchant cash advance financing. This is one of the many advantages of our programs over a traditional lender.Back to Index
How can I use the money?
You are free to use the money as you choose, Funding Source Capital LLC will not be monitor how you spend the cash we get you. Our funding policies do not include a section for money usage purposes.Back to Index
How can I qualify?
Our requirements are:
What is a Merchant Cash Advance?
A merchant cash advance is a fast, easy way to get the cash you need to grow your business. The funding is based on the regular monthly deposits into your business checking account. The bigger the deposits, the more available cash you can access.Back to Index