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Merchant Cash Advance


It’s easier than ever to get the cash you need to build your business. The First Data Merchant Cash Advance program helps you by turning your future credit card sales into working capital. Imagine what that could mean for your business. You can upgrade or purchase new equipment, make renovations, expand your business, purchase inventory and much more.


Features and Benefits


Features


  • No monthly fees, payment is received from each daily deposit
  • Does not impact other opportunities to apply for traditional financing
  • Fast and easy application process
  • Quick turnaround time for approval and funding
  • Dedicated customer service team.
  • Split funding from processing account (avoid bank overdraft fees)

Benefits


  • Increased cash flow
  • Opportunity to expand your business
  • Cash Advance is not included as debt item on credit history
  • Alternative capital solution vs. going into a partnership or giving up equity (keep ownership control!)


How it works

We provide you with the capital, you decide how to spend it. Our business cash advance solution offers you a lump sum cash advance based on future card sales. A fixed, specified percentage of those sales automatically go towards repaying the cash advance during your daily card processing settlements with us.


It really is easy money


The application process is simple with minimal documentation required. If you are an existing customer, there is no need to switch processors. Better yet, you receive your funds in as little as five days, from our receipt of your documentation. Only First Data Merchant Solutions can access your existing processing history documentation, streamlining the application process considerably. We value our relationships with our merchants, so we can provide a more personalized service. Once you receive your cash advance, there is no fixed payment amount, we simply take a percentage of your daily MasterCard and Visa card processing deposits so quiet trading periods are automatically reflected in your repayments. The specified percentage you pay is a fixed amount and may only change upon mutual agreement. If you have access to our ClientLine product you can reconcile your bank deposits daily.


Frequently Asked Questions


How does First Data Merchant Cash Advance work?

Simply sign First Data's Merchant Cash Advance contract, agreeing to sell a portion of your future credit card sales at a discount and receive a lump sum cash payment.

A small, fixed percentage of your credit card sales are withheld to repay the Cash Advance during your standard settlement process with First Data each day.


What are the requirements?

  • Signed application
  • Six most recent merchant processing statements
  • Two most recent bank statements. All pages are required.
  • Copy of state-issued driver’s license or passport

How long does it take to get approved?

Once all documentation is received, clients can be approved in as little as 3-5 business days.


What can I use merchant cash advance for?

The advance can be used for any legitimate expense to help grow your business.


How do I make payments?

Payments are taken directly from your daily MasterCard and Visa credit card deposits. The daily withhold percentage is based on your credit card volume> (Typically ranging between 10% to 20%)


Is there a penalty for paying off the balance early?

There is no penalty for paying off the balance early.


Do I need to process credit cards with First Data?

Yes, credit card processing must go through an approved First Data partner.


Submit a question about Merchant Cash Advance or call our team at 1.866.999.6632