INFORMATION QUESTIONS
FREQUENTLY ASKED QUESTIONS
There are no set monthly repayments. This isn’t your conventional loan, so there are no fixed terms or APR. You only repay a small fraction of your future credit and debit card sales until the advance is fully settled. This model accommodates seasonal businesses where card sales can experience significant fluctuations.
We do not conduct credit checks during the application process; however, the provider you are matched with may perform a credit assessment through a major credit bureau. A missed or delayed payment may potentially influence your credit score.
A ‘merchant cash advance’ and a ‘business cash advance’ are synonymous. They refer to the same financial product and do not differ in terms of funding options; they merely employ varying industry terminology.
Having a less-than-perfect credit history should not deter you from applying for a cash advance. In certain situations, lenders might be open to considering your application despite a subpar credit history. The key is to proceed with your application and not be discouraged. Furthermore, if you are aware of any blemishes in your credit history, you can address them when discussing your application with the lender. Being forthcoming with additional information can enhance your application’s prospects.
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