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What is needed to apply for a merchant cash advance loan?

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These days businesses have started using cashless mode of transactions. They have started equipping themselves with card payment devices. If you have such a business then going for a merchant cash advance loan can be an easy process. Top merchant cash advance companies like Capital Float are providing loans on very simple terms. They are providing feature laden loans such as the range of credit available is one lakh to one crore. You only have to fulfill some conditions regarding your eligibility for availing a loan from them.

The conditions are:

  • Your business should be a minimum operational history of one year
  • Your business should have a minimum turnover of Rs.20L
  • Your minimum card acceptance vintage should be of minimum 6 months
  • Your minimum monthly card volume should be Rs.1L
  • Your settlements should be at least six per month
If you meet the above conditions then it is hassle free to acquire a merchant cash advance loan.

Posted on May 16, 2017

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An application

Posted on May 10, 2017

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1 Answer

What happens if I default on a merchant cash advance?


If you are looking for funds for your business, merchant cash advance is what you can go ahead with. Within a few days of submitting the merchant cash advance, your business will be getting funds.
Talking of defaulting merchant cash advance, what can come up as a result depends upon the agreement that you share with the cash advancing company. But in this scenario, you are likely to face a default with interest being charged upon the amount the debt and you can even be sued by the agency owing the money in a civil court.
Hence it is suggested to clear your loans at the earliest to avoid extra payment on the basis of 'loan interest' as well as unwanted legal hardship. By using prominent financial lending service like Capital Float, you'll receive enough time and ways to clear out the merchant cash advance to avoid being into defaulter list.

May 15, 2017 | Retail Supplies

6 Answers

What Type Of Business Loan Can I Get For My Small Business?


we have no way of knowing we are not your bank

Oct 26, 2016 | Computers & Internet

1 Answer

Can I Still Acquire A Cash Advance If I Already Have A Bank Loan?


Yes you can. A merchant cash advance can be taken regardless of your other facilities. Most importantly, the cash advance does not appear on your credit report so other lenders will not be able to see that you have taken the cash advance.

Aug 17, 2016 | Retail Supplies

3 Answers

Why Do I Need To Get A Cash Advance/Short-Term Loan?


You might consider a short-term cash advance as a financial tool to apply as an alternative to bounced checks, late payments and tarnished credit scores. They allow you to meet unexpected expenses or provide short-term cash need between pay periods.

Jul 28, 2016 | Retail Supplies

1 Answer

Will My Bad Credit Affect The Application Process Of Cash Advance?


Even though your credit score is a factor in loan decision, there are many other factors that play important role in decision of whether or not to advance the money to your business. Having good credit score isn't always a pre-requisite. Additionally, your merchant cash advance will not affect your credit score.

Jun 07, 2016 | Retail Supplies

2 Answers

How Does The Cash Advance Different From A Bank Loan?


a cash advance has large interest rate and lots of fees while a bank loan normally has lower rates longer pay back and much better for you in the long run.

Mar 17, 2016 | Retail Supplies

2 Answers

What Are The Benefits Of Merchant Cash Advances?


Your business will get funds within a few days of submitting your cash advance application. The program enables much versatility in administering cash flow; as the loan is just compensated back by your credit card transactions. Since the payment is directly associated with your company's sales, you do not have to bother about making payment or missing due dates.

Dec 17, 2015 | Retail Supplies

2 Answers

Why Do I Need To Process Credit Cards To Apply?


A cash advance relies upon purchasing your future credit card sales. Obligations pursuant towards the purchase plans between our information mill made with an automatic deduction of the number of your future charge card sales. An authorized processor handles individual's obligations. It's that simple. You don't have to create traditional loan obligations and be worried about income. The procedure handles itself.

Sep 30, 2015 | Computers & Internet

2 Answers

How Quickly Can I Have The Cash Advance?


Following a complete contract qualifies and performed, funding is going to be available the moment your merchant processing account is converted and also the Merchant Cash Advance lender sees 2 days of net settlement.

Aug 04, 2015 | Retail Supplies

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