What is a Cash Advance?
Business owners face dynamic challenges and opportunities every day, and deserve better than “one size fits all” financing. As an alternative, business owners are choosing merchant cash advances as a financing option. A simple concept, merchant cash advances are based on a percentage of future credit card receivables which provide immediate working cash for businesses. As banks continue to reject more business lending applications, business owners scramble to secure the working capital they need to maintain smooth business operations. It has become extraordinarily difficult for many business owners to get traditional loans in this economy. This present state of the economy has lead the merchant processing industry to experience a dramatic increase in the number of business owners seeking merchant cash advances.
Easily Access Working Capital
We will customize the most suitable program for your business and have you funded as soon as 72 hours. Most merchants require additional working capital following the initial funding. After three months, we can renew most merchants that have the need for additional capital. Our goal is to work with our merchants by developing long-term relationships and at the same time offer some of the most competitive terms in the industry.
A merchant cash advance is not a business loan, but a method of financing whereby a business owner agrees to sell his future credit card receivables at a discounted rate. The merchant has several ways of paying back the advance (not all companies offer this) including split funding from their credit card machine, ACH, and lockbox methods. The business owner is not required to pay back the advance under a specific time period, but pays back the advance by diverting a percentage of his monthly credit card sales to the merchant cash advance company. Prior to the advance being paid off, the merchant also has an opportunity to re-new his/her advance and obtain additional funds.
Since the merchant advance is not an actual business loan, this means that there is no collateral attached to it, and thus it is an unsecured advance and is not tied to any personal or business assets. With our simple funding process it has become easier than ever for a merchant to obtain working capital even with today’s economic conditions.
- 95 % Approval Rate
- Borrow $4,000 up to $2,000,000
- No Collateral/Unsecured
- Less than Perfect Credit Okay!
- 24 Hour Approval Process
- Get Funded Within 72 Hours
Businesses need working capital for a variety of reasons – from purchasing inventory and equipment to remodeling and advertising or even just to boost cash flow. Our business financing products can be used for any business opportunity and offer both fixed and flexible repayment options. Could your business use extra capital to expand, renovate or advertise? Or maybe you’re ready to upgrade your equipment or stock your shelves for a seasonal business spike. If your business accepts debit or credit cards, then a merchant cash advance may be your answer. Whether your expenses are planned or unexpected, a merchant cash advance from Allegiance Merchant Services can provide your business with $4,000 to $2,000,000 in as few as 5 days!
Businesses that accept payment cards are turning to merchant cash advances to access quick capital. For small businesses that are just starting out to established mid-sized businesses, a merchant cash advance is a quick and easy way to obtain funding by leveraging your future card sales. We understand that every business is different – that’s why we have multiple products to fit your unique needs.
Businesses across the U.S. have found that financing solutions from Allegiance Merchant Services is the right solution at the right time. Chances are we have a funding solution for your business as well.
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Cash Advance FAQs
We offer a revolutionary new working capital program designed to help you manage your cash needs by providing you with a more responsive alternative to traditional bank lending.
Our products offer a way to get the money needed for your business operations. The most important thing to remember is that it’s not a loan, so there are no loan payment books, no dealing with people who don’t understand your business, none of the traditional bank hassles. Allegiance Merchant Services’ transactions are based upon your future credit card and debit sales. We purchase a portion of these future credit and debit card sales at a discount. To settle your obligation, we retrieve a fixed percentage of daily credit sales when they are “batched”. It is simple as that.
Most of our customers use the money for business lending needs like adding more seats to their restaurants, advertising or stocking up on seasonal merchandise. Others have used it to buy out a partner or for emergency needs like unforeseen maintenance issues that could interrupt your business. You are free to spend the money on whatever is best for your business.
Typically, after a merchant has been approved the average time from receipt of all documents required to funding is usually 3-7 business days.
Articles of Incorporation, board-meeting minutes, a corporate tax return or a business license showing the guarantors name as an owner are all great proofs of ownership.
We collect a small percentage of your daily credit card sales as they are settled or “batched”. Typically, we collect a daily percentage. However, we do offer some programs that are weekly.
Gross volume refers to your total receipts from all sources, including cash, credit cards, debit cards, and checks.
In most cases, we use your existing equipment. All we have to do is re-program your terminal, which takes only 10 minutes and it can be done over the phone with our tech department, who will give you step-by-step instructions.
The funding amount depends on your monthly average credit card receipts for the past four months. We can obtain 150% of your monthly credit card sales up to $2,000,000.
If you owe money to another funding source, we can easily payoff your existing advance and provide you with additional money.
You can call a Cash Advance Specialist at 800-450-9125