Pryorcapital

Services

"There are advantage and disadvantage of securing a merchant cash advance, please call us to discuss your options."

Merchant Account

A cash merchant advance can be an option whenever business owners need acquiring capital in a speedily manner. This type of financing can help entrepreneurs expand their companies in a variety of ways.

Qualifications

  • Have been in business for at least 3 months
  • Minimum $8,000 Monthly gross revenue
  • Must provide at least 3 months bank statements

2 Types of Merchant Cash Advance

ACH Advance: With this approach, we look at your last 3 - 6 months of business bank statements. This will determine the strength and influx of your business cash flow which will Be used to qualify for a certain amount. This amount could range anywhere from $1,500 to 1 million. The money is then advanced, normally within 24 hours, but sometimes could take as much as 5 days. The payments are then made electronically by debiting directly from the business bank account.

MCA Advance: This type of cash advance is based upon a business's credit card revenue. Aging reports are looked at to decide of how much money the business qualifies for. The payback for this type of cash merchant advance is based upon a percentage of the credit card deposits. The advance will be paid back through the course of 3-24 months.

Characteristics of the Advance

  • Advanced amount: $1,500-$1 million Term of the advance:3-24 months
  • Payback frequency: Either Daily/Weekly/Monthly
  • Time to fund:1-5 days
  • Interest rate:15%-45%

The cash merchant advance gives business owners access to capital in a speedily manner. This type of funding that is not a loan. It is a fixed dollar amount that is borrowed against a business's future credit and debit card earnings. It's the easiest and fastest way to get capital for the requirements are extremely lenient due to the terms and nature of the loan.

About us

Our team has provided loan consulting services to individuals and small businesses throughout the country since 1996.

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