Merchant cash advance
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Merchant cash advance
- Loans from $5,000 to $150,000
- Variable amount without security
- No high credit score needed
- Automatic repayments
- Easier to Qualify
- More suitable for retail and hospitality businesses that predominantly use Eftpos
Please fill out the contact form. Our experienced finance brokers will get in touch with you to discuss your needs
What is a merchant cash advance?
This type of small business loan is a fast and easy way to get a cash injection by applying for a lump sum to then be paid back. The repayments are calculated based on a percentage of the sales.
Merchant cash advance: other benefits
Compared to other small business loans, a merchant cash advance follows a more straightforward application and approval process. The documentation required for the application is limited, and also a less weight is given to the credit score. The critical lending criteria for this type of loan is the business cash flow as the repayments are based on the monthly Eftpos transactions. In some cases, there is no need to present copies of financial statements, tax returns or other business documents.
Merchant cash advance: disadvantages
A merchant cash advance is a more expensive solution compared to other small business loans available in the market. Check with us if your forecasted cash-flow will be enough to sustain the cost of this type of business loan.
- Not suitable for business with a large number of cash payments: a merchant cash advance is ideal for business with a high number or credit and debit card payments.
- Not a long term solution: most of the lenders offer a merchant cash advance for a maximum of 12 months.
Read the definition on Wikipedia.
Merchant cash advance: how to apply
We help you through the process, and we put you in contact with the lender that offers the type and size of business loan that meet your needs. Our partners assist eligible small businesses with a merchant cash advance.
Lending Connect is the preferred and trusted finance broker for hundreds of small and medium local businesses in Australia. It all starts with an enquiry. Call us 1300 911 621 or click on “get started now” and we call you back to see if you qualify for a merchant cash advance.
(100% free consultation – not affecting you credit score)
or call us now