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merchant cash advance

Credit Cards Processing Company Harbortouch Office dba Main Street Business Loans Now Providing Strategic Funding Loans

business cash advance

Call 502-222-8871. Merchant Cash Advance (MCA) and Main Street Business Loan (MSBL) are available in all 50 States; known as Strategic Funding. First download Adobe Fill & Sign Mobile from Google Play Store or iTunes App Store.

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merchant cash advancemerchant cash advance

Services We Offer

What is a Main Street Business Loan (MSBL)?

Definition: an alternative business loan is a short-term loan program based on total gross monthly sales volume.

  • Financing up to 11% of the gross yearly sales
  • Fixed daily payments / direct ACH (Monday-Friday)
  • Program terms range from 5-15 months
  • Premium pricing available

merchant cash advance

main street business loans

What is a Merchant Cash Advance (MCA)?

Definition: Merchant Cash Advance (MCA) is an alternative financing solution which offers merchants access to capital based on their monthly credit / debit card sales. Through the purchase and sale of credit / debit card receipts, money is advanced upfront to a merchant and the advance is repaid by taking out a small % of the daily credit / debit card sales until the advance is paid off.

merchant cash advance

Get Working Capital Now!

A merchant cash advance is a way to provide working capital to a business by purchasing their future credit / debit card sales from their customers. Higher approval rates than traditional finance products. MCA is for you when you can't get a loan from a bank. There's no fixed monthly payments since an MCA works with your business' cash flow and credit card sales. Repayment is made by delivering a fixed percentage of the merchant's future credit card sales to Capify. There's no personal guarantee! MCA is for low risk type processing industries, i.e., card present environments, restaurants.

Some uses for the MCA:

  • Advertising
  • Expansion - Opening new locations
  • Inventory - For example: taking a $20k advance to buy goods that will be resold at $60k.
  • Partner Buyout - MCA is cheaper than giving away X% of profits.
  • Extra Cash-Flow
  • Renovations - Taking an MCA now will bring an additional $X in future revenue. For example, building a new party room in a restaurant can yield over $100k of revenue over time.
  • Repairs / upgrading equipment
  • 70% of merchants renew for additional working capital.

MCA and MSBL Fee Breakdown

While no application fee is ever charged to the merchant, a processing fee does apply should you choose to take the advance. In order to recover some of the associated costs of underwriting,

Fees for the MCA are applied as follows:

  • For deals $10,000 and over = $99 to $295
  • For deals $5,000 to $9,999 = $195
  • For deals $4,999 and below = $95
  • $25 monthly maintenance fee for the life of the advance.

    Fees for the MSBL are applied as follows:

  • All Deals = $295 Processing Fee
  • 3% Origination Fee
  • $35 Rejected Daily Payment Fee
  • $25 Monthly Loan Servicing Fee
  • $5,000 Minimum Loan for Standard Pricing. Requires 1 year in business and a 525 FICO Score (500 for Trial MSBL) or higher.
  • $5,000 Minimum Cash Advance or Loan for Premium Pricing on Platinum MCA and Platinum MSBL, respectively. Requires 2 years in business and a 640 FICO Score or higher.

No Bank Needed. Risk Free Deal
We are buying a merchantís future credit / debit card sales today at a discount. We advance them $X for the right to buy back $Y worth of their future credit / debit card sales. We do this by taking a small % of their future credit / debit card sales going forward until the advance is paid off. We typically pay 74Ę for each future credit / debit card receivable purchased.

Advantages of taking an MCA:

  • No real estate - No assets to pledge or secure it with
  • Less paperwork involved than a bank loan
  • No fixed time period - payback is based on a % of merchant's future credit card sales.
  • No fixed interest rate
  • Works with merchant's cash flow. If sales slow down, payback slows down.
  • No fixed monthly payment to worry about
  • No personal guarantee
  • The amount is never reported to credit bureaus, unless merchant violates the agreement.

Pass-through Account

Here's how the payback is collected:

A pass-through account is a separate business checking deposit account that is set up in the merchant's name whereby daily credit card deposits will be directed. The full deposit is diverted into this pass-through account where the withhold is applied. Once we receive the daily credit card deposits, we take out our withholding % and send the balance of the funds via ACH credit to the merchantís main operating bank account. With the pass-through account, there is typically a 48 hour / 2 business day delay on top of when the merchant would normally receive their money from their credit card processor. There is no cost to open a this account. However, there is a $25 monthly maintenance fee charged to the merchant once the account is actively being used.
You Could Get Advanced 100% of Your Monthly Sales Volume
We typically will advance up to one months worth of a merchantís credit card receivables (or roughly 100% of their volume). The amount advanced ultimately is based upon not only the merchantís credit card sales, but also their overall total sales.
We Don't Hamper Your Business Growth With an MCA
To protect the merchantís cash flow, we like to take less than 20% of a merchantís future credit card sales until we've collected the amount of future credit / debit card receivables purchased. And as an additional safeguard to the merchant, we will not take out more than 10% of the businessí total gross sales.
Business Types That Work Well With Our Cash Advance Model

Be sure you fit our merchant cash advance model. Below is a list of our pre-qualifications for a merchant:

 

  • Process at least $7,500 per month in Visa/MasterCard/Debit/Discover sales from their customer
  • Credit cards processed daily
  • Immediate delivery of goods and/or services to the customer (no future delivery)
  • Cards are swiped in person at the place of business
  • Brick and mortar locations
  • Merchant owns their inventory (no drop shipping)
  • Batches out their terminal at least 12 days per month
Trial Advance

The Trial Advance Program is for riskier business types and merchants who do not meet the credit, landlord and / or tax lien and judgement restrictions set forth in the other cash advance programs. This includes those who are lacking in one of our approval requirements: lease/mortgage standing, credit score, small liens.

Requirements:

  • 4 months processing statements
  • Must process at least $7,500 per month and have been in business for at least 2 months
  • Proof of ownership
  • Driver’s license
  • Must have been processing credit cards for at least 2 months
  • Must batch out at least 12 days per month
  • Qualify for around 25 - 35% of their monthly credit card volume
  • Quick estimated turnaround: 3 to 6 month program
  • Excellent renewal opportunities
    Business type examples - Furniture Store, Gym, Gas Station, Home Improvement Contractor (i.e. Flooring, Roofing, etc...)


Below are some more examples of business types that fit our Merchant Cash Advance (MCA) model…

Medical Offices / Restaurants Tanning Salons / Book Stores Music Stores/Tobacco - Cigar Shops Shoe Shops/Accessories- Gift Shops Stationary Shops

Night Clubs - Bars/Clothing Stores Day Spas / Hair & Nail Salons / Liquor Stores

Coffee Shops / Eye Glass Stores

Hotels - Motels / Laundromats

Dry Cleaners

Hosiery Stores / Luggage Stores
Beauty Shops / Movie Theatres Gourmet / Specialty Food Stores Sporting Goods Stores / Florists

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