HOW A MERCHANT CASH ADVANCE WORKS
A merchant cash advance is not a loan, but simply a way to get access to your future sales immediately, so you can cover an emergency or a business need. We understand there are some misconceptions out there, so we’re here to help you learn more. We believe an informed customer makes the best decision for their business!
So what’s the difference between the process of applying for a merchant cash advance versus a loan? A bank loan can take weeks or sometimes even months to apply for, require good credit, and is no guarantee for most business industries. A merchant cash advance is fast, with funding completed in as little as a day, and is offered based on your company’s average monthly income. The funds are disbursed via wire, and payback comes directly from a merchant’s bank via ACH or credit card processing on a daily basis until it is paid back.
With almost a decade of experience in the industry, we take great pride in our ability to assist the companies and people that make up the small businesses of America. Unlike the banks, we don’t say no to business owners who have bad credit or have fallen into tough times in the past. We understand what it’s like to be a small business because we are one. Our mission is to help merchants get back on their feet, catch up with expenses, and continue to run a successful business. That’s the Elevate difference.