CapAssist FAQ

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What is a Merchant Cash Advance?

Great question! We walk you through everything you need to know on our Merchant Cash Advance page!

How is this different from a business loan?

There are a number of differences that make a Merchant Cash Advance easier and faster to secure than a traditional business loan. We have some specific information for you over on our Merchant Cash Advance page.

Is there an application fee?

No, there is no fee to apply for a Merchant Cash Advance with CapAssist.

How much can I qualify for?

Every business is unique, so it's hard to tell you exactly what your business could qualify for right now. We do evaluate your business history, including past credit card sales. Past credit card sales are one of the major indicators that will impact how much merchant capital you can qualify for. All it takes is a short phone call with one of our team members, and we'll be able to get it all figured out!

How do I make payments?

One of the benefits of a Merchant Cash Advance with CapAsisst is that you don't have a set payment! Unlike traditional business loans, there is no set monthly payment that is due, regardless of how your business is doing. Instead, we collect a manageable percentage of your credit card sales on a daily basis. If you have a low sales day, then we take a smaller amount, but the same percentage. If you have a great sales day, then we take a higher amount, but the same percentage. We only get our money when you make money. It's a payment system that is truly tailored to your specific business! And, this all happens automatically. You'll never have to write a check!

What if I already have an outstanding Merchant Cash Advance elsewhere?

No problem! Once you are approved for your new business cash advance with CapAssist, we'll pay off your existing advance directly. The remaining funds will be paid to you as normal! This way, you'll only have one business cash advance outstanding at any given time.

What if I want to pay this off early?

Go for it! There are no penalties for prepayment, since this is not a business loan.

Can I re-access this working capital at any time?

A Merchant Cash Advance is not a line of credit, so technically, no. A line of credit is a revolving credit line, and is essentially a loan. CapAssist does not offer business loans of any type, including a business line of credit. However, once your remaining balance is paid down to a certain level, we could definitely look at providing you with a new advance!

My personal credit is not great. Will this hurt my chances of being approved?

We look primarily at the business when deciding whether to fund your merchant capital advance or not. Unlike a traditional bank loan or credit line, your personal credit history is not a major factor in our underwriting decisions. If you have at least 3 months history of accepted credit card receivables, then you're already a step ahead!

Do I have to switch my credit card processor?

We have a credit card processor that we work with, and to most easily facilitate the smooth processing of your merchant cash advance, we highly recommend utilizing our processor. The good news is that, most of the time, we can save you money on your processing as well! If you'd like to discuss your options, please give us a call and we will share with you how much you will be able to save. If you are unsure about switching, we may have some options for you.

What are some minimum qualifications?

While we are fairly flexible, a few primary qualifications are:

  • No-home based businesses
  • At least three months of credit card transactions (sales)
  • Minimum of $5,000 per month of credit card sales

Contact CapAssist

  • Call 1-855-468-4350
  • Email Support Now
  • 8900 Indian Creek Parkway #300
    Overland Park, KS 66210