frequently asked questions

Our process is designed to give you a quick response. After we receive your completed application, we will work to close your loan agreement as quickly as possible. Once your loan is approved and finalized, you can often have your money within 24 hours.

The amount you can access depends on the financing option you choose. In our Services' section, you can find out more about this option and determine which one best suits your needs.

No, you only need your bank statement for the application process. If we need another document, we will let you know, but usually it is not a requirement.

Yes, you can qualify. It is legal for a company to enter into multiple MCAs. Some lenders prohibit you from taking out additional loans in their contract, but state and federal laws do not prevent this. However, we recommend that you consider a consolidation loan, where the daily charge is lowered, and the term is extended. We offer many options that you can review in our Services' section.

APR is a common abbreviation for "Annual Percentage Rate," which is the amount of interest that accrues on debt held for one year. In other words: Your APR is the annual charge on your loan. It is important to emphasize that APR is not the same as interest rate. Although many people use the terms interchangeably, your APR and interest rate are not the same thing. Your interest rate is just that - the interest rate charged on your loan - and it does not include any of the other associated fees. The APR, on the other hand, is a combination of your interest rate and the other costs or fees associated with your loan.

We will deduct money from your daily credit card transactions to repay the MCA (we may allow a weekly deduction instead, this depends on your request). If your MCA requires daily debits, there is generally no grace period. You should expect to start making daily payments the day after the money is disbursed.

Generally, failure to repay a merchant cash advance has several consequences. If you default on your payments:
1. The lender may notify credit reporting agencies, and your credit score may decline as a result.
2. The lender may charge fees and increase interest rates if the business owner fails to make payments.
3. Some merchant cash advances may include "borrower" fees. An additional fee is charged for each month the business owner misses a payment.
However, we may be able to charge only a late payment fee, a penalty fee, or a daily late payment fee, where additional fees are assessed daily for missed payments. Our flexible no-rate clauses may allow us to adjust the amount (percentage) deducted from your account each day.
You may also be able to renegotiate your payment terms with us. We can negotiate the terms of the contract on your behalf. Another option would be to refinance your debt with a loan that requires lower regular payments and has a longer term. In our Services' section, you can find out more about this option and determine which one best suits your needs.