How It Works
There are a number of options when you're looking for a business financing solution. When business owners are considering merchant credit options, a traditional bank loan is often the first thought. A Merchant Cash Advance, however, isn't a traditional bank loan. Instead, we are buying a portion of your future sales. In return we advance you a lump sum for this purchase, which is called a merchant cash advance. Unlike other business financing options, our focus is on your credit card sales, not your personal credit. Yes, we do examine the business overall, but the focus is on your incoming revenue. Because we evaluate our clients in this way we can often get you approved within one day!
Once approved, we'll ask you for a bit more information to help us finalize your merchant cash advance. This is pretty normal stuff, like bank statements, a voided check, a merchant application, and other similar items. (You would have to provide this info (and more!) with any merchant credit solution.) Shortly after we receive and verify this info, we'll be ready to fund your advance! All in all, we aim to fund in five to seven days!
Once your advance has funded, repayment begins. CapAssist offers a variety of payment options, including daily payments via an affordable percentage of your daily credit card sales, or various ACH bank draft options. The daily credit card sales payments are the easiest way to repay your merchant credit advance. This percentage of your daily credit card sales doesn't change day to day, so your daily allotment really is based on your sales for the day. If you make less money, you pay less. If you make more, you pay more. It's always in line with your incoming revenue! Combined with our various ACH draft options, we can find a solution that fits your business financing needs. And the good news is that with either option, you don't ever have to write a check! No one offers more flexibility than CapAssist!
We know that applying for and managing a merchant credit solution can be tough, especially when you already have so much on your plate. We want to make this easy for you! To help, you will have at least two individuals assigned to you throughout the entire process. We don't hand you off or sell you off. We want to be your business financing partner, and we're sticking with you throughout the entirety of our agreement! Do you need some additional capital before the agreement is complete? No problem! If we have received at least 70 percent of the agreed upon amount and you find yourself in need of another capital advance, we can help! Just contact your dedicated Account Executive to see if you're eligible to renew your merchant cash advance!