Frequently Asked Questions
A Merchant Cash Advance is a financing option for small businesses in which some of your business’s future sales are purchased for a lump sum today. It is repaid via a percentage of your future sales.
You can get immediate access to working capital without the strict criteria of a business loan.
- Lower eligibility requirements. Applicants with poor credit, non-U.S. citizens, businesses with prior defaults or tax liens, and business industries that banks won’t finance are all eligible.
- Less paperwork than a traditional bank loan; we simply need 3-4 months of your business bank statements to get you qualified.
- Quick turnaround time; the application takes less than five minutes to complete, the funding decision is often in 2-3 hours, and funds hit your bank account in as little as as little as 24 hours.
- Flexibility based on how your company is performing. If your sales go down, so do your remittances. We want to ensure that your business still has enough working capital to be successful. Furthermore, we won’t tack on additional fees if the repurchase takes longer than initially anticipated.
Ultimately, it is up to you! We put no restrictions on what you use the advance for, as long as its for your business needs.
One of our business specialists would be glad to help you! We are open Monday through Friday from 9 AM to 6 PM (EST). Give us a call now at 1-888-499-2939
This usually depends on you, and how quickly you can send us the required docuements! It is our goal to get you funded as fast as possible. Typically the process takes 1-2 days but we have funded businesses in as little as 2 hours! Typically the process takes 1-2 days. We understand that your business moves quickly and our goal is to get that cash in your hands as soon as you need it.
If I already have a business loan or advance, will this affect my chance of getting an advance with LCF?
In most cases no! As long as you are still in good standing with your other obligations and can afford payments, we will be happy to assist you in obtaining the capital you need. As every situation is different, please contact one of our business financial consultants today to discuss your options.
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