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A Bad Credit Score Is A Thing Of Past. Say Hello To Merchant Cash Advance

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A Merchant Cash Advance, Business Cash Advance,Merchant Capital,Loans, Is A Lump Sum Of Capital You Repay Using A Portion Of Your Daily Credit Card Transactions. You Can Usually Get Approved In A Day Or Two - With Very Little Paperwork - Merchant Cash Advance Or Mca Is The Type Of Business Cash Advance That Does Not Require Any Collateral For Getting The Finance . Also The Best Part About This Type Of Financing Is That You Need Not To Worry About A Bad Credit Score As It Does Not Primarly Depend On It . If U Don't Qualify For Another Type Of Loan For Bad Credit Merchant Cash Advance Can Help You

Documents To Exspect

  • Valid driver licence & credit score

  • 6 bank statements

  • 6 Credit cards statements

  • Business Tax Return & Proof of ownership

  • Void Business Check

  • Credit score & Landlord Lease agreement

Minimum to apply

  • Minimum 5 months in business

  • Annual revenue + $100,000

  • Second position allowed

  • Bankruptcy Not a factor

  • Credit card & receivables are factors

  • Profitably is not a factor

Some stats

  • 250

    Max Loan Amount 2500k to 250k

  • 1

    Automatically deduct each day from your bank account

  • 1.14

    Factor fee start from 1.14%

  • 7

    Speed as little 7 days

Merchant Cash Advance - All you need to know

Introduction

When you are planning to take your business to the next level and your credit scores are low, the financing companies are not much help. For giving you a way out of trouble, we at Garrtech Funding present you with the merchant cash advance. The merchant cash advance can be understood as a business cash advance. When you want to take your business to the next level, but your credit score and business history is not strong enough for you to obtain a loan, the Garrtech Funding loans you a merchant cash advance. It acts as a short-term financing tool and is a great source of merchant capital. Other than that some basic criteria for the merchant cash advance include - annual revenue of $100,000, credit score of 600 and time span of business to be 6 months. In this manner you do not have to worry about your business being too new. You can apply for merchant capital through Garrtech Funding and take your business to the next level without being stressed about the complications of commercial loan. The advantage with applying for a merchant cash advance instead of a regular loan is the repayment mode. With a regular loan, you have to pay a fixed amount back at the starting of the month, this amount is not dependent on your financial situation. With merchant capital, the amount of money paid back is dependent on the sales that you made in a particular month. It is a great aid for any small business that is in the starting state and not stable enough to apply for a commercial loan. Getting your funds through merchant cash advance is a guarantee irrespective of your credit score or the age of your company. You may contact us for more details about merchant cash advance.

How to decide whether a merchant cash advance is worth it?

On one side you will find that the repayment of merchant cash advance takes up an amount of your daily cash flow which might seem overwhelming at times, but on the other side, it is also true that when your sales are slower, your repayment is low. Hence it is quite different from traditional term loans wherein you have to make the repayments despite your business financials, on time or you pay a late fee. Hence, it is up to you to decide which type of merchant loan is suitable for you.Another factor that should be considered while taking the decision is the repayment term. Usually, it is between 8 to 9 months. The larger percentage of credit card sales you offer your lender, the quicker, the loan is repaid.

Fee Structure

The first thing to note is that merchant cash advance comes with a factor rate in place of an interest rate.


  • It is 1 of the fastest access to funds ,Time of funding is within 1 week

  • It has a simplified approval process,Time span of business to be 6m

  • Bad credit does not affect the process of your approval

  • It can be utilized for a wide range of business activities

  • Minimun Annual revenue not less of $100,000 and Credit score of 600

  • Time span of business to be at least 6 months

  • Maximum loan amount ranges from $2,500 to $250,000

  • Repayment is channelized through deduction from merchant account d.

  • It has higher charges of repayment in comparison to conventional loans

  • The flexibility is less in case of changing merchant service providers

  • It is a daily deduction of c/c receipts which might impact the cash flow

Merchant Cash Advance or MCA is the type of business cash advance that does not require any collateral for getting the finance. Also, the best part about this type of financing is that you need not worry about a bad credit score, as it does not primarily depend on it.

Characteristics ·  It is one of the fastest access to funds · It has a simplified approval process ·  Bad credit does not affect the process of approval · It can be utilized for a wide range of business activities Turn Downs · It has higher charges of repayment in comparison to conventional loans ·The flexibility is less in case of changing merchant service providers ·  It is characterized by daily deduction of credit card receipts which might impact the cash flow

Basics

Extra capital is the need for every business. Taking the approach of applying for traditional loans takes up a lot of time and effort along with a heap of paperwork. In business, opportunities come suddenly and it needs to be taken up fast otherwise you lose the chance of business growth and revenue generation. This is where merchant cash advance steps in. We can assist you through the process for gaining the same.It is basically an advance amount of money your lender provides you in return for an agreement to pay back a certain percentage of per day credit card sales. You can have the funds within a day or two with minimal paperwork but do keep in mind that it is probably one of costliest loan options. Use your research and judgment before applying. Other characteristics of the merchant cash advance include  Maximum loan amount ranges from $2,500 to $250,000 · Repayment is channelized through deduction from merchant account daily ·   Factor fee is in the range of 1.14 to 1.18 ·Time of funding is within a week.The factor rates range from 1.14 to 1.48 which when multiplied by the loan amount gives the total amount of repayment. When the figure is converted to APR, the rates initiate from 15% and can go up to triple digits. One thing needs to be kept in mind that you need to carefully calculate the interest rate and repayment amount. The interest rates may be deceiving sometimes. Last points of advice are that if you are confident that you can pay back the repayment amount fast in an effective manner then your cash flow would not be harmed. Also, to reach us out to know whether you qualify for other types of loans.

GARRTECH MCA CUSTOMERS WHO HAVE BEEN APPROVED

  • Revenue over $180,000 - Credit score 680 - Time in Business +4 years 80%
  • Revenue over $400,000 - Credit score 700 - Time in Business +7 years 55%
  • Revenue over $750,000 - Credit score 700 - Time in Business +10 years 28%
  • USA SBA Loan approval 2015 - $350k to 2m 49%
  • USA SBA Loan approval 2015 for existing business 64%
  • USA SBA Loan approval 2015 for new business 36%

Hi Merchant , My name's Parvin I'm your Funding Advisor at Garrtech Funding . I'm the specialist in SBA Loans . We Also provide Business Cash Advance & Merchant Cash Advance . Don't hesitate in asking about this program. Get in touch with me Toll-Free 1-800-880-0349

Parvin kumar
Parvin kumar ,
Funding Advisor

Hi Merchant , My name's Nay Funding Advisor & Telemarketing supervisor Specialist in Medium Term Loans at Garrtech Funding . We Also provide Business Cash Advance & Merchant Cash Advance . Don't hesitate in asking about this program. Get in touch Toll-Free 1-800-880-0349

Nay Vora
Nay Vora ,
Telemarketing Manager

With great hardware comes great software. PoyntOS gives merchants the flexibility and control to use 3rd party applications to save time, make more money, and deliver capabilities that catapult your business into the future. Arrives ready to go with a built-in payment terminal, register, scanner, printer, and more. Or it can work seamlessly with the equipment you already own. Merchants don’t even need to switch banks. Ask your Funding Advisor for your free terminal : TOLL-FREE : 1-800-880-0349

Credit Card Payment
Credit Card Payment,
Credit Card Processing

Your Application Process

  • 80%
    Revenue over $180,000 - Credit score 680 - Time in Business +4 years
  • 55%
    Revenue over $400,000 - Credit score 700 - Time in Business +7 years
  • 28%
    Revenue over $750,000 - Credit score 700 - Time in Business +10 years
  • 49%
    USA SBA Loan approval 2015 - $350k to 2m
  • 64%
    USA SBA Loan approval 2015 for existing business
  • 36%
    USA SBA Loan approval 2015 for new business

READY TO IMPROVE YOUR CREDIT SCORE?

We can remove negative items from your credit report and help improve your FICO score, making it easier to obtain a loan, home, vehicle, mortgage, or insurance. TOLL FREE CUSTOMER-CARE 1-800-880-0349

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