What is a Merchant Cash Advance?
With a merchant cash advance from Cheddar Capital, our lenders advance you capital in exchange for a percentage of your daily credit card sales, plus a fee. Merchant cash advances can be quick, easy ways to get a business cash advance with no need for collateral even if you don’t have a great credit score.
Maximum Loan Amount Of $2,500 to $250,000
If you have little or no collateral, limited business history, or a low credit rating, merchant cash advances could be a solution to your financing problems.
Paid Daily from your Merchant Account
In return for that lump sum advance, you agree to pay Cheddar Capital back with a percentage of your daily credit card sales. This is the fastest financing option there is.
Factor Rate of 1.10 - 1.50
Cheddar Capital measures your fees with a factor rate instead of an interest rate. Converted to APR, these rates often start at 15% but can get all the way up to triple digits.
Get Your Cash as fast as 2 Days
Cheddar Capital will make it our mission that once you are approved for a Merchant Cash Advance that we will get you your money as fast as 2 days if not in a single day.
Who Qualifies for a Merchant Cash Advance?
If you have little or no collateral, limited business history, or a low credit rating, merchant cash advances could be a solution to your financing problems. For businesses that make a big portion of their revenue through credit card payments; if you own a restaurant or a retail store, for example, then you can use a merchant cash advance as a short term financing tool. It can help with working capital, inventory purchases, debt payments, unexpected payments, and more.
How to Apply for a Merchant Cash Advance?
Applying to a merchant cash advance is a fast and easy process. Because merchant cash advances are paid back with your daily credit card sales, Cheddar Capital will look at your credit card processing statements to make sure you have enough volume coming into the business. Cheddar Capital might ask for your credit score and bank statements as well.
How Do Merchant Cash Advances Work?
Cheddar Capital helps businesses get funding in all shapes and sizes… Every business could use some extra capital. But applying for loans takes time and energy that you might not have. In return for that lump sum advance, you agree to pay Cheddar Capital back with a percentage of your daily credit card sales. While a merchant cash advance is definitely one of the faster financing options out there, it is the most expensive loan on the market.
What Will a Merchant Cash Advance Cost You?
We’ve said it over and over: A merchant cash advance can be very expensive. And based on the structure, taking on an MCA can really take a chunk out of your cash flow. Merchant cash advances, while fast and convenient, tend to be worth their price only if you’re confident you can repay them quickly and without much harm done to your cash flow.
This group was professional, timely and was a pleasure to work with. The turnaround time was fast and even with my less than perfect credit record they had me funded in a few days. Two thumbs way up!!!
Physician, New Jersey
I was very pleased with the customer service and speed of Cheddar. In this day and age it is becoming harder to find good customer service anywhere.
Funding was easy. Cheddar made it easy and fast to get the needed capital for my business.
Energy Consultant, Washington