Give Us a Call 24/7 to Speak to a Loan Specialist: (866) 526-0238
Give Us a Call 24/7 to Speak to a Loan Specialist: (866) 526-0238

Fast Merchant Cash Advance Funding

Fast Cash Advances

During the course of normal business there are a number of crucial expenses that need to be paid in order for your business to run smoothly. Such expenses include working capital, making payroll, buying equipment or machinery, marketing and advertising, tax payments, paying vendors and purchase inventory. Oftentimes a company may find the need to take care of these expenses immediately, but don’t have access to fast small business capital to make sure these expenses are met in a timely fashion. Even more, a company may find they don’t have the business credit or collateral to obtain a fast business loan or line of credit from a traditional lender. If they do meet a large bank, small bank, community bank or credit union’s criteria, the process of obtaining business funding may take months to complete.

For many small business owners, waiting months to obtain financing to take care of their needs simply isn’t an option. Every day left without fast funding can mean money lost (including profits) but also put the business (and its employees) at risk. For businesses and merchants who deposit at least $10,000 into their bank accounts during the course of a month,  fast business cash advances may be an option.

Business Cash Advance Details

Funding Amounts $5,000-$5,000,000
Funding Time 1-3 days
Collateral Not Required
Fees Varies
Minimum Deposits $10,000 a month
Positions Offered 1-6th
Credit Scores: 500+

What is a Fast Business Cash Advance?

A fast business cash advance (or sometimes referred to as an ACH business loan) is the sale of a company’s future bank deposits (4-24 months) in exchange for fast merchant funding at a discount to the lender. A business cash advance is slightly different than a merchant cash advance because an MCA loan is the sale of a merchant’s credit card sales, instead of bank deposits (like an ACH loan).

When a business is approved for a cash advance loan, the lender will deposit the funds directly into a business bank account, and then the small business will make automatic daily payments to the lender during business days (not weekends or holidays) through the use of ACH (automated clearinghouse) remittances directly from company’s bank accounts. The amount taken-out each day as repayment is agreed upon in contracts before funding.

What Businesses Qualify?

There are few industries that can’t get funded with a business cash advance, as approval rates among ACH lenders can be as high as 95%. In fact, industries that traditional banks and credit unions wouldn’t touch, are actually accepted by cash advance funding companies. On top of that, there is never a restriction on how the funds are used. Once the money is deposited into the bank account, it is for the small business to decide on how its put to use.

Minimum credit requirements usually include a 500+ credit score, although some lenders will fund any and all credit types (including bad credit business loan types). But most lenders care more about seeing a prospective borrower have at least $10,000 a month in deposits, at least 10 individual deposits, no insufficient funds, and a monthly balance of around $3,000. Now, while these are common requirements throughout the ACH loan industry, these requirements aren’t necessary among all lenders. Oftentimes a lender will take trends in deposits and the nature of the business cycle (especially among seasonal businesses) into account.

Business Cash Advance Documents Needed

To get approved and funded for a business or ACH cash advance, a business lender will require the following documents:

  • Application
  • 6 months bank statement
  • Copy of owners drivers license
  • Voided check

If the financing request is for $100,000 or more, a lender will usually ask for additional documents including:

  • Profit & Loss statement
  • Articles of incorporation

Business Cash Advance Funding Process

Unlike the cumbersome process associated with a traditional bank loan or other alternative business loans, the cash advance funding process very easy and relatively painless. How it works:

1. Credit Application

While credit isn’t a determining factor in getting a loan, the lender will still run credit checks to make sure there aren’t tax liens and other issues that could affect funding. The application process takes an hour if not minutes.

2. Provide 6 months bank statements

The lender will require a company’s most recent 6 months of bank statements to determine cash flow trends, number of NSF’s, calculate average monthly deposits, etc.

3. Receive offer from lender

After a credit check has been run and cash flow analysis completed (1 hour process) the lender will then supply the business or merchant with a funding offer. If the business accepts the offer, the lender may have additional stipulations that need to be met (like supplying photo ID, voided bank statements, P&L)

4. Get funded

Once all stipulations have been met, the lender will place a call to the business owner and explain the terms of the funding again, and then wire the funds directly into the business bank account.

Get a Fast Cash Advance

Who We Are

GUD Capital is a nationally recognized leader in the financing industry for providing the best business lending solutions available to small and mid-sized businesses. We leverage our network of 4,000 competing commercial lenders to provide your business the largest selection of commercial financing options.

Get Started

Recent Posts

Vegan & Vegetarian Restaurant Loans
November 21, 2017
Barber Shop Loans: Financing & Working Capital For Barbers
November 15, 2017
10 Best Merchant Cash Advance Tips: How to Get the Best Business Cash Advance
October 11, 2017
High Risk Working Capital: Cash Flow for High Risk Small Businesses
October 10, 2017
Alternative Business Loans With Bad Credit: Nontraditional Bad Credit Lenders
October 5, 2017
Pet Grooming Business Loans: Financing For Pet Groomers
October 4, 2017
Business Loans To Pay Taxes: Business Tax Funding Options
October 3, 2017
Business Bridge Loans: How to Get Bridge Financing For Working Capital?
September 27, 2017
Growth Capital: How to Get Capital to Grow Your Business
August 29, 2017
Alternative Business Funding: What are the Alternative Commercial Funding Options?
August 23, 2017
Secured Business Loans: How to Get the Best Secured Financing for Your Company?
August 14, 2017
Commercial Mortgage Brokers: How a Commercial Mortgage Broker Helps with Commercial Lending
August 9, 2017
No Collateral Business Loans: How to Get an Unsecured Business Funding Without Providing Collateral
August 8, 2017
Long Term Business Loans: Long-Term Small Business Lending Options
August 7, 2017
Physical Therapy Business Loans: Financing For Physical Therapist Practices
August 3, 2017
Franchise Working Capital: Short-Term Funding Options for Franchises
August 1, 2017
Cannabis Business Loans: Dispensary Financing and Marijuana Industry Investment
July 26, 2017
Commercial Loan Broker: Types of Commercial Finance Brokers
July 19, 2017
Utah Business Loans: Financing For Utah Small Businesses
July 18, 2017
Georgia Business Loans: Financing For Peach State Small Businesses
July 17, 2017
Low Doc Business Loans: Financing with Low or No Documents:
July 12, 2017
Arizona Business Loans: Financing For Arizona Companies
July 11, 2017
Investment Real Estate Loans: Financing For Investment Properties
July 10, 2017
Commercial Balloon Refinancing: How to Refinance Commercial Balloon Mortgage
July 8, 2017
Office Building Loans: Commercial Financing and Mortgages For Office Buildings
July 3, 2017