Merchant Cash Advance in Columbus
Provide immediate access to funds based on future credit card receivables
MCA Financing in Columbus
At one point or another, a business might have gaps in cash flow, experience an emergency, have a piece of equipment break down and so on. If you find yourself in one of these situations, or something similar, a quick and easy financing option is what’s known as a merchant cash advance. Unlike a traditional bank loan with strict requirements, lengthy paperwork and slow payment times, a merchant cash advance is ideal for those who have had difficulty qualifying for other types of funding but are in need of working capital fast. For owners in Columbus interested in working with an alternative business lender, the financial specialists at JSV Capital offer merchant cash advance options.
What Is A Merchant Cash Advance?
A merchant cash advance is different from a traditional bank loan and is not categorized as a loan at all. The difference is that a merchant cash advance does no not require borrowers to put up collateral and cater to those with less than perfect credit. A lender is much more likely to issue an MCA to a small business or start-up because they will be repaid directly from the business’s own proceeds.
To put it simply, when choosing a merchant cash advance, a lender purchases a portion of your future sales and provides a lump sum of money in exchange. Borrowers will then pay the lender back at a factor rate. The merchant cash advance application can be completed online in just a few minutes and funding is provided in as little as 12 to 28 hours.
How does a merchant cash advance work?
When you work with an alternative lender such as JSV Capital, a merchant cash advance involves the lender purchasing your business’s future profits. This is a quick and easy way to obtain funding in the short-term. Borrowers receive a lump sum of working capital upfront and are then responsible for paying back the MCA. The repayment is essentially a percentage of one’s credit card sales—before they’re deposited into one’s bank account.
The repayment schedule is automatic and money can be withdrawn either monthly. The amount repaid is determined by a fixed factor rate, meaning it will reflect a business’s fluctuations in sales whether they’re up or down.
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What Do I Need to Qualify for a Loan?
How to Apply
What Do I Need To Apply For A Merchant Cash Advance?
To qualify for a merchant cash advance with JSV Capital, your business must be operational with a positive cash flow for at least three months. In addition, you must have $150,000 or more in annual revenue. Borrowers must also have a personal credit score of 500 or higher. You can apply for a merchant cash advance online through the JSV website with minimal documentation required. It’s advised to have either your bank statements or credit card purchases on hand. The application process takes just minutes to complete. Those who are approved will receive confirmation within a few hours and funding as soon as one to two business days.
Is a merchant cash advance right for my business?
The right candidate for a merchant cash advance is typically a start-up or small business with little amounts of income, an owner with an average to poor credit score or someone who does not qualify for a traditional bank loan. Businesses operating within all industries can apply for an MCA in order to fund emergency expenses, payroll, inventory and more.
How Much Funding Can I Get?
The amount of funding JSV can provide for a cash advance is different for every borrower. The amount will be dependent upon a business’s credit card sales, in addition to other factors. MCAs do not require borrowers to put up collateral in order to obtain funds. For more on how the merchant cash advance program at JSV Capital can benefit business owners in Columbus, Ohio, consult with one of our financial specialists today.
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We are one of the most trusted sources for merchant cash advances. Unlike most lending companies, JSV Capital provides access to quick and affordable small business funding options for all types of businesses.
Like you, JSV Capital is a small business, and we take pride in helping our neighbors secure the financing they need to grow and achieve success. Contact a reputable loan consultant at JSV Capital about how we can help you and your business get funding today.
Apply For Merchant Cash Advance Financing
No cost to apply. Applying will not impact your credit score.