The Merchant Capital Cash Advance provides quick and simple access to working capital, increasing your business’ cash flow without the fixed monthly payments and prohibitive qualification criteria of traditional business loans. But don’t take our word for it; read on and understand why your retail business should partner with us right now.
You’re the boss
While we prefer that cash injection funds are used for growth-enhancing opportunities, we get that you’re the one that built this business and respect entirely that no one understands its ins and outs quite the way you do. With this in mind, we don’t prescribe what you use your funds for.
You pay your way
Understanding that every business is a unique entity with very particular needs, we provide two options for fund repayments:
1. Split Processing is when repayments are directed via your debit and credit card terminal. This means that every time a customer pays with a card, a small agreed percentage of that transaction goes to Merchant Capital, and the remainder moves into your bank account. This continues until the amount is fully paid off. This means that if you don’t trade, you don’t pay. Similarly, when business is better, you repay that much faster.
2. Alternatively, a daily debit order provides the opportunity of knowing exactly how much you are paying back on a daily basis, rather than paying a large single payment at month-end. Our skilled credit team will discuss these options with you and advise which of these two methods is best for your business.
Getting that much more
Once you have paid back 70% of your facility, you qualify for a re-advance. Then, since we already have all your details on file, an already seamless process becomes that much easier! All we will need is a few updated statements and cash could be coming your way. Plus, should you have not taken the full amount you originally qualified for, you can also ‘top up’ your cash advance at any point in your funding cycle. It’s no wonder that 80% of our customers re-advance with us, given the viability of our unique working capital solution.
How to get in the game?
Complete a quick & easy application
There are two ways you can apply for a Merchant Capital Cash Advance:
Applying for our cash advance online is a great option for retailers that keep unusual hours or for merchants who want to apply at their leisure. Once completed, you will receive an email immediately advising you of any outstanding documentation and within just a few hours, you will be contacted by a Merchant Capital executive, to get your application going.
Sometimes merchants prefer to apply in person in which case we also offer the alternative of applying directly with a sales executive equipped with all the expertise to walk you through the process one step at a time. Simply call 011 217 2880 and receive an immediate response and follow-up email with everything you need to know about the application and documentation requirements.
Understand your qualification criteria
You qualify for 80-100% of your business’s average monthly credit and debit card turnover. It’s a good idea to have that number on hand so you can estimate what to expect as your Merchant Cash Advance offer. As soon as we have analysed your statements, your sales executive will be able to specify your exact qualifications.
Understand cash advance rates
The cost of funding depends on how much you are approved for, as well as the length of time you require to pay it back. We pride ourselves on creating customised funding solutions for our clients and never apply a one-size-fits-all scenario to our merchants.
Expect quick turnaround times
We work on a scale of 1 – fast and strive for the quickest turnaround times (24 – 48 hours). That said, we require all your signed contracts and completed documentation before we can transfer the funds.
Final checks and balances
Because we are providing an unsecured advance, we need to check the supplied references, as well as run the necessary credit checks. At this point, you might also be contacted by our credit team in order to answer any queries we might have. Personal credit is considered when you apply with us, however, you don’t need a perfect credit record to qualify for a merchant cash advance. Rest assured, we will always discuss our findings with you prior to any decision.
Money in the bank
Within 48 hours, you will know whether you have qualified, and if so, funds will be immediately transferred to your account – ready and waiting to help your business grow.