harbortouch kentucky

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

Main Street Business Loans vs Merchant Cash Advance

Main Street Business Loans (MSBL)

1. How is this different from a traditional bank loan?

A business loan through MSBL does not require the collateralization of your assets. While a personal
guarantee is needed from some 200 of our lending partners, a validity guarantee is needed from others. A validity guarantee states the information submitted on a borrowing base certificate or factored invoices is true and accurate. It holds the signer liable in the case of fraud or misrepresentation, but doesn't hold the signer liable for other types of losses. You do not have to switch bank accounts to qualify and all credits are considered. This is a short term financing solution for small to medium sized businesses and is not affiliated directly with a bank.

2. What is the cost of the money?

The cost of the money varies between 22 cents on the dollar to about 39 cents on the dollar for our Standard
Pricing Program. High quality merchants may have the opportunity to take advantage of our Premium Pricing
Program for costs ranging between 15 cents on the dollar to 29 cents on the dollar.

3. How is the money paid back?

Only the total loan repayment is calculated and the term is established, a fixed dollar amount will be deducted
directly from your business bank account 5 days a week, Monday through Friday (twice after a
weekday bank holiday). Larger loans will qualify for weekly repayment schedules. If you want a monthly repayment term, you must state this upfront. This requires one lender that we use and only certain States qualify for this monthly repayment schedule. No checks, no hassle.

4. How long are the loan terms for?

The loan term is determined based on the loan amount and your qualifying criteria. Terms will vary
between 5 and 15 months. Some of our lending partners offer 3 years to 10 years loan repayment terms.

5. How much will I qualify for?

Most merchants will qualify for up to 11% of their annual gross sales volume (based primarily on a combination of business bank account daily balances and amount of annual balances. Amount of business bank(s) balance is key to approval). We might ask you to tell us a dollar amount you feel comfortable paying back daily from your business bank account to arrive at a qualifying amount based off of the figure you give us. Qualified merchants could get up to $500,000. For Example: Someone needing a $300,000 - $500,000 MSBL would need an overall gross sales volume of approximately $2,000,000 - $2,500,000 annually.

6. What are the qualifying requirements?

• 6 months to 1 year in business.

• Positive checking balance
• No open bankruptcies or tax liens (or be in a repayment plan) bankruptcies will need to have been either Dismissed 1 year or Discharged 1 year).

7. What is the credit requirement for me?

A 500 to 540 FICO score and above is required for this program.

8. How fast is the underwriting process?

Once the full submission package is received, underwriting will issue you a Conditional Offer within 24 hours. The full length of the underwriting process depends on how quickly the requested supporting documents are received.

9. What documents are evaluated for approval?

Application (Download by Clicking Here) signed by 51% or more of ownership, 4-6 months of business bank statements (all pages), or a personal bank used as a business bank, driver’s license, and a voided check.

10. What documents are evaluated for a Hard Money loan approval?

Application (Download by Clicking Here) signed by 51% or more of ownership, 3 months of business bank statements (all pages), driver’s license, voided check, business incorporation documents, Property Tax Bill(s) for each property, Survey (on vacant land) for each property, Copy of recent Phase I environmental in-spection (as applicable), and a copy of the deed to your real estate property that you'll be using as collateral or real estate property you'll be using from that Investor willing to sign their property over to you as security for purposes of obtaining this loan.

Further documentation may be requested during the processing of the loan application (e.g., corporate documents). Please note that, due to the unique nature of each application, the documentation deemed critical for approval will differ from application to application. The processor assigned to each application will contact the applicant regarding the specific required documentation associated with the application.

If you (or someone you know) owns ANY type of property (residential, commercial, raw land, vacation home), then we can work with you. If anyone you know is willing to allow you to sign for their property, where we can go in behind their mortgage (like a 2nd mortgage), we could use that as well. The property does not need to be related (deeded) to the you, the borrower!

11. Is there a fee to apply?

For MCA and MSBL, there is no fee to apply, but an origination fee will be deducted from the funding wire to offset the underwriting costs. There is also a $99.00 processing fee.

Hard Money loan fees: Applicants will be required to pay for valuation and title reports at the time of application as follows: Hard Money loans will have closing fees and upfront appraisal fees of $590 per residential property ($290 title search deposit, plus $300 valuation fee); $1,565 per commercial and industrial properties ($365 title search deposit, plus $1,200 valuation fee); and $590 or $1,565 for residential or commercial zoned land, respectively.

At funding, borrowers will be required to pay the balance of third party title costs in excess of the deposit. Title search deposit and valuation fees, for reports ordered are nonrefundable after the first 3 days following application. Fees can be paid by wire, PayPal or ACH, as reflected on the Loan Product/Estimated Closing Cost Disclosure & Applicant Authorization Form.

A local appraisal may be required for complex real estate evaluations. The fees are subject to the local market appraisal rates determined by local independent appraisers. Additional fees will be charged at closing, including a processing fee of $795.

12. What industries will work well for MSBL?

MSBL opens up a whole world of opportunities! It is particularly ideal for businesses that typically do not
accept credit cards or who batch out less than 12x per month. High risk processing merchants (future delivery, high tickets, contract payments) are a good fit for this program.

• E-Commerce
• Wholesales
• Law offices
• Medical Practices
• Accountants
• Furniture
• Bridal/Events
• Liquor Stores
• Construction/Utilities
• Liquor Stores
• Automotive
• Travel Agencies
• Catering
• And Many More!

merchant cash advance (mca)

1. What is the interest rate?

We are not a bank and a MCA is not a loan. We offer upfront capital in exchange for the right to purchase your future credit card receivables.

2. What is the cost of the money?

For every 75 cents we advance you, we are going to take roughly $1.00 of your future credit card sales back.

3. What will determine if I qualify?

It is important that 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 customers including Amex and Discover Network.
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

3. How does a merchant qualify?

Merchants must process at least $7,500 per month in Visa / MasterCard sales. We can include Amex and Discover Network as well. We only require the merchant to batch/settle out 12 days per month. We will look at new businesses that have been processing credit cards for at least 60 days. Our 50% rule states that if a merchant has a balance with another cash advance company, they must be processing double the amount that they owe; this way the merchant will net at least 50% of the advance.

4. How long must a merchant be in business?

Merchants only need to have been in business accepting credit cards for 60 days.

5. How do you determine how much capital a merchant will qualify for?

Merchants usually qualify for up to one month’s worth of their processing volume. For example, a merchant that
processes $20,000 per month will usually qualify for up to $20,000 in working capital, hard money loans, and business loans. Qualified merchants could get up to $500,000.


6. How fast is the underwriting process?

One of the main benefits of a merchant cash advance is how quickly we can provide the merchant with working capital, hard money loans, and business loans. We can provide an approval within 24-48 hours with the proper documentation. Once approved, a final contract is available and ultimately, the merchant can be funded in as quickly as 7 business days. Funding is supplied to merchant via wire transfer.

7. What documentation or paperwork is required to get a merchant approved?

The process is easy. We require:
1) Short application (Downlaod by Clicking Here)
2) Four most recent credit card processing statements
3) Most recent business bank statement (one month, all pages)
4) Copy of driver’s license
5) Business license or proof of ownership
6) Voided business check

For deals over $60K, we require a signed tax return
For seasonal businesses, we may need additional processing statements
For deals over $40K, our underwriters perform a “verification call” and will directly ask the merchant some basic
questions regarding their business operations
For deals where the merchant currently has a cash advance with another cash advance company, we will need
their most recent balance statement. Once approved and ready to fund, we will need the pay off letter from the
company with their most updated balance and pay off instructions

8. What are the merchant’s credit requirements*?

We look at average transaction amounts rather than the higher ones. Merchants must have at least a 500 FICO score, no bankruptcies, and no open tax liens (or be in a repayment plan)* (bankruptcies will need to have been either Dismissed 6 months or Discharged 1 year). We will not review merchants with recent foreclosures, collection accounts, civil judgments*, etc. A merchant needs to have a positive beginning & ending bank balance with minimal negative balances / NSFs / overdraft fees throughout the month.

9. How does the merchant pay-back the advance?

Option 1:
We set up a separate checking account in the merchant’s name whereby the daily credit card deposits will be directed. Once we receive the daily credit card deposits, we take out our withholding percentage and send the balance of the funds via ACH credit to the merchant’s main operating bank account. With this pass-through account, there is typically a 24-48 hour day delay on top of when the merchant would normally receive their money from their credit card processor. There is no fee to set-up the account, but there is a $25.00 per month fee to use the account.

Option 2:
We have the potential to directly ACH from the merchant’s bank account. However, the merchant requires certain criteria to fit this option.

10. What is the daily withholding percentage taken out of the merchant’s credit card batch?

We typically will take between 10-20% when the merchant settles out nightly to pay-back the advance. The percentage can be a little higher or lower depending on the business owner's overall cashflow and also will be based upon how much capital they are looking for. As another safeguard, we will not take out more than 10% of the merchant’s total gross sales.

11. Are there any application fees?

There is no fee to apply for the program. If the merchant does move forward with an advance, there is a $295.00 processing fee for all advances between $5,000 - $10,000. The processing fee will be taken out of the proceeds of the advance.

12. How soon after can the merchant obtain another advance?

The merchant will be eligible for a renewal opportunity once they have paid back 50-60% of their current advance. The majority of merchants renew for additional working capital, hard money loans, and business loans.

13. What business types work best for a merchant cash advance?

Restaurants, bars, clothing stores, liquor stores, spas, hair/ nail / tanning salons, dry cleaners, bookstores, music stores, accessories, gift/stationary stores, coffee shops, eyeglass stores, medical offices, hosiery stores, beauty shops, movie theatres, parking garages, sporting goods stores, florists, and gourmet / specialty food stores.

14. What are the location requirements?

Merchant must have at least one year left on their lease* or ready to sign a year extension. If merchant is overdue with a significant amount of rent, we will put them on hold until they are current. Must be original tenant* (only on a case by case basis will subletting be permitted). We prefer brick and mortar locations and will not accept a merchant doing business solely through E-commerce (i.e. accepting PayPal, etc.) or MOTO.

Main Street Business Loans (MSBL) Restricted Businesses

The following industries shall not qualify for loan program


  • Adult Entertainment
  • Auto Sales/Auto Rentals
  • Boat Sales
  • Collection Agencies
  • Credit Repair
  • Diet Pills & Nutraceuticals
  • Drug Paraphernalia
  • Electronic Cigarette Devices
  • Firearms dealers / Gun shops
  • Free Trials
  • Grants/Grant funding
  • Kiosks
  • Large Equipment Sales (new/used)
  • Medical marijuana
  • Mortgage modification or Debt Consolidation Services
  • Non-Profits
  • Online pharmacies
  • Payday Loans
  • Pawn Shops
  • Prepaid phone cards
  • Seminars
  • Telemarketing
  • Travel Agencies
  • Ticket brokers


Main Street Business Loans(MSBL) Top Industries (These Are Not The Only Businesses We Work With)

The following are industries we work most frequently with

  • Carpets and Rugs
  • Automotive Repair, Services, And Parking
  • Home Furniture, Furnishings, And Equipment Stores
  • Variety Stores
  • Jewelry Stores
  • Automatic Merchandising Machine Operators
  • Business Consulting Services, Not Elsewhere Classified
  • Computer Processing And Data Preparation And ProcessingServices
  • Holding And Other Investment Offices
  • Management Consulting Services

Merchant Cash Advance (MCA) Restricted Businesses

The following industries shall not qualify for any cash advances


  • Adult Entertainment
  • Auto Sales/Auto Rentals
  • Bail Bonds
  • Boat Sales
  • Collection Agencies
  • Credit Repair
  • Credit/risk, business investment, insurance
  • Diet Pills & Nutraceuticals
  • E-Commerce
  • Electronic Cigarette Devices
  • Firearms dealers / Gun shops
  • Free Trials
  • Gas only
  • Grants/Grant funding
  • Kiosks
  • Large Equipment Sales (new/used)
  • Mortgage modification or Debt Consolidation Services
  • Medical marijuana
  • Modeling Agencies
  • Non-Profits
  • Online pharmacies
  • Pawn Shops
  • Payday Loans
  • Prepaid phone cards
  • Seminars
  • Subscription
  • Software Download
  • Travel Agencies
  • Ticket brokers
  • Telemarketing
  • Wireless


Merchant Cash Advance (MCA) Top Industries (These Are Not The Only Businesses We Work With)

The following are industries we work most frequently with.

  • Restaurants
  • Liquor Stores
  • Shoe Stores
  • Children's and Infant's Specialty Stores
  • Tobacco Stores and Stands
  • Power Laundries
  • Variety Stores
  • Optical Goods Stores
  • Beauty Shops
  • Women's Clothing
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