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Who runs Merchant Cash Direct and what do they focus on?
Merchant Cash Direct is a partnership of business, legal and financial specialists who have run small businesses earlier, achieved success and know the challenges a small business owner faces day in and day out.
Understanding how difficult it is for the small business owner to raise capital, they decided to make a difference – to “invest” in solid retail, restaurant and services businesses
The reason for focusing on these sectors is that small business owners operating such ventures face regular funding challenges and find it difficult to source working capital from banks for their small business funding needs
Our mission is to help the small business owner overcome immediate funding problems and raise working capital for inventory, cash flow, expansion or advertising needs or even start up a new business alongside his existing one.
Our specialists are actively involved in the day-to-day operation of our business, and available to our customers at any time during the business week.
Who runs Merchant Cash Direct and what do they focus on?
Merchant Cash Direct is a partnership of business, legal and financial specialists who have run small businesses earlier, achieved success and know the challenges a small business owner faces day in and day out.
Understanding how difficult it is for the small business owner to raise capital, they decided to make a difference – to “invest” in solid retail, restaurant and services businesses
The reason for focusing on these sectors is that small business owners operating such ventures face regular funding challenges and find it difficult to source working capital from banks for their small business finance needs
Our mission is to help the small business owner overcome immediate funding problems and raise working capital for inventory, cash flow, expansion or advertising needs or even start up a new business alongside his existing one.
Our specialists are actively involved in the day-to-day operation of our business, and available to our customers at any time during the business week.
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What can Merchant Cash Direct do for my business?
Our small business funding scheme offers you a way to improve your business for the future by accessing business cash advance now. It’s not a bank loan, so you’re more likely to be approved, and your cash becomes available to you quickly.
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How can I use the cash?
You can use the cash any way you see fit. We serve as your working capital funding source. After getting the cash you want, you can use it to support or upgrade your business, improve your cash flow, procure essential equipment, improve operating facility or publicise your products/services.
Maybe you need repairs or inventory. Maybe you would like to expand your present location or simply add a new location. Better still, maybe you’d like to seize an opportunity in your marketplace before a competitor does and start up a new business to capture a larger market share. You are free to decide what you want to spend the cash advance on.
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How does it work?
The funding process is simple. Merchant Cash Direct purchases your future credit card transactions and advances that money to you. After you have your cash advance, we get the money until we get the agreed upon amount of future credit card sales/receivables.
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Will I qualify?
If you are a restaurant, retail, or service business and have been in business for over a year and process at least $4,000 in credit card sales each month, you are well on your way to approval
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Suppose I have bad credit? Will I still be eligible for the small business loan with my bad credit history?
Even if you have a history of bad credit, our small business loans are available to you. Since we invest on the basis of your growth in the future, and not your past, your bad credit history does not discourage us.
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What documents do I have to furnish to qualify?
Once you put in your application, we’ll ask you to provide us:
- 4-months of your credit card.
- A copy of your lease, and
- A tax return or financial statement.
- Articles of Incorporation and or business license.
These documents will be submitted to our Underwriting Department for approval.
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How long will I have to wait to find out if I have been approved for my cash advance?
Pre-approval is usually obtained within 24-48 hours. Within 48 hours, your Funding Consultant will contact you to discuss the specifics of our agreement.
Merchant Cash Direct will then deliver a contract to you before closing of the next business day. Funding can take as little as 7-10 business days depending on the amount of the transaction and the time it takes to get the necessary documents required for processing the business loan.
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How much can I qualify for?
You will qualify for up to 150% of your monthly Visa and MasterCard receivables. The amount of receipts purchased is determined by your average Visa and MasterCard volume over a monthly period.
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How soon can I have the business cash advance?
After a complete contract is submitted and approved, funding can happen in as little as 10 business days.
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Will I receive the same low rates as my current credit card processor?
The funding process works through your credit-card terminal so we may need to switch you over to our preferred credit card processor. We work with an outstanding organization that will match or may actually beat your current rates, and will make the transition virtually seamless.
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Will I be able to monitor the progress on my account?
You can log on to the Merchant Cash Direct website to view your account status online, and you’ll also get a statement each month.
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Who can answer my questions, or help me start the funding process?
You can reach our Merchant Cash Direct representative at:
1-800-374-4728 from 9 a.m. – 5 p.m. EST, Monday - Friday
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