Does your business qualify?
THESE ARE THE FOLLOWING CRITERIA THAT WOULD QUALIFY YOUR BUSINESS FOR MERCHANT CASH ADVANCE:
* YOU HAVE A CANADIAN-BASED BUSINESS (EXCLUDES E-COMMERCE AND HOME BUSINESSES)
* YOUR BUSINESS ACCEPTS CREDIT AND DEBIT TRANSACTIONS (A MINIMUM SALES PER MONTH IS REQUIRED)
* YOU HAVE BEEN IN BUSINESS FOR MORE THAN 6 MONTHS
* NO OPEN BANKRUPTCIES
BENEFITS OF A MERCHANT CASH ADVANCE:
* The approval process of a merchant cash advance takes significantly less time than a bank loan, there is less paperwork to fill out and the cash will be yours quickly.
* There is no set date for repayment. Your payments are made automatically based on your business’s credit card sales.
* The approval rates for a merchant cash advance are much higher than those of a business loan. Companies that cannot qualify for a business loan are more likely to be approved for merchant cash advance.