A Merchant Cash Advance (also known as a Business Cash Advance) is a sum of money given to a business in exchange for the future receivables of that business over an agreed-upon time period. The funding process can be broken down into 5 Stages: Application, Analysis, Funding, Repayment, and Renewal.
Lenders like us need to gain an understanding of the particular financial situation that your business is in. All lenders will require you to submit documents about yourself and your business along with your application. Standard requirements will include your identification, recent bank statements, and information about your company’s cash flow.
After receiving your application and business information your lender will then analyze the risk associated with the requested amount. After your lender has reached a verdict, they will reply to you with an offer either matching your request, provide an adjusted offer, or a decline.
Once you’re satisfied with an offer, you can accept the advance and its terms to receive the funds quickly. Funders like us will be able to fund you the day of and week of approval. Other funders may request to distribute the advance over a longer period.
The last step is starting to make payments. The lender will automatically debit your account with the agreed-upon re-payment amount and frequency.
Typically Stage 4 is the final step, but that’s not always the case. If you’re halfway through paying off an advance, another opportunity can arise to help your business. Funders like Mint Funding can provide you with additional capital once a significant portion of your principal sum has been paid off. Staying financially agile is indispensable in today’s business landscape.
To get started all we ask for is 3 Months of Recent Bank Statements and a Completed Funding Application.
After our team has reviewed your file, they’ll provide options. If you accept, our team requires two more pieces of information to complete your funding request.
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Garden Business Funding
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