Every business cash advance is unique; we customize each advance individually to match the merchant’s business. There are several factors to consider when paying back a business cash advance. For example, how much do you expect to earn in credit card processing receipts per month? What is the seasonality of your business? Once you take these factors into consideration, you are looking at six to twelve months to pay back your business cash advance.
How do I make the payments?
Payments are expected from the businesses daily credit card processing transactions. Depending on the terms of the merchants specific business cash advance financing, the retrievable rates can vary from five to twenty five percent. If your business makes $100 a day in credit card transactions and your rate is 20%; your daily payment would be $20 until the cash advance was paid in full.
What are the qualifications?
Here are some helpful facts, to find out if your business qualifies:
• Business must be producing a minimum of $3500 per month in credit card sales.
• Provide 3 months worth of credit card processing statements
• Business has to be in operation at least one year
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