FAQ

Merchant Cash Advance

How does a cash advance differ from a loan?

A Merchant Cash Advance is the purchase of your business future credit card receivables at a discount. There is no interest charged and there is no fixed payback period. An MCA is paid back daily with a percentage of each credit card sale going to pay the MCA. An MCA works with your business cash flow needs in mind. If your business has a slow season or a slower month, you still pay a percentage of your credit card sales in this case a smaller amount as a result of lower sales. Because a percentage is automatically paid daily there are no due dates to remember and you can go do what you do best which is run a successful business.

How quickly can my business be approved and funded?

The approval process is fast. A great benefit of an MCA is how quickly we can underwrite and provide you with finance. When all required paperwork is received in a timely manner, you can be approved in 24 hours and funded within 5 days.

How much will my business qualify for?

A business will typically receive up to 100-200% of their monthly credit and debit card turnover. Business owners do not realise that their future credit card sales are an asset even before the sale is made.

What does my business need to qualify?

• Processing credit cards for 60 days

• Processing a minimum of £3,500 per month

• No open bankruptcies

What is the minimum documentation required to be evaluated for conditional approval?

• Application to be filled out by 51% or more of your business ownership

• 4 months recent credit/debit card processing statements

• 1 months most recent bank statement

Are there any additional items required for full approval?

• A copy of your Driver’s License or Passport

• A copy of a voided cheque

• Our underwriters may require additional information in certain circumstances

How soon after funding can I obtain another advance?

A business is typically eligible for additional finance once 50% of the initial advance amount has been paid. Approximately 85% of businesses return for additional finance as they see the benefit in our cash advance programme.

Business Loans

How does a loan from Capify differ from a traditional bank loan?

Finance from Capify is different in that there are small daily payments automatically debited from your bank account as opposed to having to come up with large monthly payments.

How quickly can my business be approved and funded?

The approval process is fast. A great benefit of a Capify business loan is how quickly we can underwrite and provide you with finance. When all required paperwork is received in a timely manner, you can be approved in 24 hours and funded within 3 days.

How much will my business qualify for?

Merchants will typically receive up to 75% of their monthly gross sales.

What does my business need to qualify?

• In business for at least 9 months

• Generating a minimum gross sales of £7,000 per month

• No open bankruptcies

What is the minimum documentation required to be evaluated for conditional approval?

Are there any additional items required for full approval?

• A copy of your Driver’s License or Passport

• A copy of a voided cheque

• Our underwriters may require additional information in certain circumstances

How soon after funding can a business obtain another loan?

A business is typically eligible for additional finance once 50% of the initial advance amount has been paid. Approximately 85% of businesses return for additional finance as they see they like the small daily repayment structure.

Get Business Funding Today

Call us on 0800 151 0980

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