Business Cash Advance
- Have good revenue and need quick cash? Access flexible MCA funding to grow your business.
- A business cash advance is a popular expansion tool because it's easiest to qualify for and requires little documentation.
- Finance expenses, purchases, upgrades & more.
Take advantage of an 85% approval rate - act now!
What is a cash advance for business?
A cash advance is a type of short-term financing usually provided by a funder or credit card processor. When you take out a cash advance, you’re receiving funds against your future revenue or future credit card sales. You can typically get a cash advance in a few different ways. Through out this page we will break down how to get a cash advance, how the advance is remitted and review different services and products they can be used for.
Cash Advance Details
3 - 18 Months
As Fast As Same Day
$5K-$20M
1.10 - 1.39
Merchant Cash Advance Pros vs Cons
PROS
Capital is Available Whenever You Need It
Suitable for a wide range of business purposes
Daily, Weekly, Bi-Weekly & Monthly Remittance Options
CONS
Higher Rates for Lower Credit Scores
Must have 6+ Months in Business
Approval Amounts are Based on Your Revenue
How does Business Cash Advance work?
When a small business finds itself in a bind or needs access to quick capital there aren’t many options available.  This is one of the advantages of a merchant cash advance. Merchant cash advance companies will approve your for a certain amount, which you can usually take any amount up the approved amount. The merchant will remit the advance with a percentage of each day’s credit card sales. Fees are determined by a factor rate, essentially a multiplier of the advance amount.  A cash advance for small business is a way to tap into expected revenue of your business, so here are the main terms to know.Â
- Funding Amount – the amount a funder will approve your business for is determined by the healthiness of your cash flow and monthly revenue.
- Total Amount of Purchased Receivables – is determined by the amount of funding you get advanced including the factor rate and any fees included.
- Factor Rate – The holdback is the percentage of daily revenue or credit card sales generated, which will be held by the funder to remit the funds. This is translated to a factor rate. Â
- Remittance – the remittance amount is determined by the terms of the advance. Cash advance lenders offer daily, weekly and bi-weekly options for remitting the advance.Â
Who Qualifies for a Small Business Merchant Cash Advance?
Almost any small business that is generating revenue can qualify for a business cash advance, which is why it’s so desirable by many business owners. But like any financing product, each business cash advance lender will have it’s own qualifications and you do have to meet the minimum requirements to be eligible.
The general minimum requirement for a cash advance are:
- 6 months -1 years time in business
- $100,000+ in annual revenue
- 500 minimum credit score
Small Business Merchant Cash Advance Requirements
over 500+
positive payment history
over $200K
6+ Months
* Note: These business cash advance loan requirements are based on previous Upwise customers and is just an average.
Access the top merchant cash advance companies with one simple application.
Is Cash Advance Funding right for me?
Knowing if a business cash advance is right for businesses depends on the ROI (return on investment) on what you will be using the cash advance for and the final cost of said funding. Basically, you want to find out after all the dust settles if you will profit more than the fee of the funding and that the use of funds will bring in additional revenue for the business for the years to come.
What can a Small Business Cash Advance be used for?
A cash advance unlike bank financing that are heavily limited on what they can be used from can be used for many purposes IE:
- The refinancing of debt in connection with an expansion of the business through newly renovated facilities or new and used equipment
- The purchase of land and land improvements, including grading, street improvements, utilities, parking lots, and landscaping
- The purchase of existing buildings
- Additional Staff or employees
- The purchase of long-term machinery
- Payroll, day to day activities, and back taxes
Apply for a Business Cash Advance
- Pursue new opportunities, upgrade operations, support inventory or boost marketing efforts.
- Bridge the gap in your company's cash flow or between longer term financing goals.
- Apply today to unlock cash advance funds that support your goals without restrictions
Stay ahead of the curve - get access today!
Document You'll Need to Apply
Driver’s License
Voided Business Check
Business Bank Statements (Last 4 Months)
Account Receivables Report for net 90 days
You may also be requested to provide the following for larger dollar amounts over $100K:
Balance Sheet
Profit & Loss Statements
Business Tax Returns
Personal Tax Returns
Cash Advance Pros & Cons
Pros
- You may still be eligible for a Cash advance even with a low credit score.
- Fast funding process once approved money can be in your business account in 24-48hours.
- No collateral is needed such as property or equipment
- Upfront fees that never change and no unexpected charges
Cons
- This form of funding may be more expensive than othersÂ
- Depending on your remittance agreement funds may get deducted daily which may affect cash flow
- Cash advances are temporary fixes to help businesses get back on their feet.
What is a Cash Advance Fee?
Cash advances are a fast and easy way to get cash, but they tend to come with larger fees that may outweigh some benefits. The first thing you must do before you take out a cash advance is to come up with a financial plan which assures your business can profit from the advance even with the higher fees. Include in this plan
With cash advances, most funders charge a flat fee or percentage of the transaction — whichever is greater. Some banks will vary the amount based on how you access the cash.
Sometimes business opportunities or unexpected expenses require fast access to funds. While conventional loans have lengthy approval cycles, you may not want to delay pursuing opportunities or solving problems. That’s where a working capital loan shines – it provides the cash flow flexibility to respond quickly without red tape.
Rather than waiting weeks or months, our streamlined application evaluates your business’s financial health and payment processing. If approved, funds can be in your account in as little as 1-3 business days. Best of all, repayment is simple through agreed-upon daily or weekly deductions based on a percentage of your card sales or bank deposits. This innovative model lets you borrow against future earnings and optimize your cash flow on your terms.
Why Upwise for Cash Advance for Business
Quick & easy application
Our simple 15-minute application gets you on your way to funding quickly. Most applicants receive a fast decision within hours of applying. Then just choose your loan terms and you could have funds deposited into your account as soon as 24 hours.
Ensure you make the wise choice
Every Upwise applicant gets a dedicated funding advisor who takes the time to understand your business and it's unique needs. We are here for your support throughout the entire funding process.
Access multiple financing options
Upwise has an extensive product suite and a network of 100+ lenders. This means you're more likely to find the best match for your funding needs.
