It’s a simple two step process.  It starts with a pre-approval process followed by the approval.  Pre-approval only requires a one page application, three months prior processing statements, and three months prior bank statements. We’ll be able to tell right away how much they qualify for.  Once they submit all the paperwork that underwriting requires, it could take  up to 72 hours for final approval.  We have such fast turnaround time for a cash advance approval because we have our own underwriting department.  The idea is simple. With a cash advance, Capital for Merchants pays your merchants for their credit card transactions ahead of time. As credit card transactions roll in,when the merchant batches his terminal, CFM keeps a fixed percentage, usually between 15-25% , of the merchant’s daily batches until the contract amount is satisfied.

Here’s an example of how the qualifying amount is determined as well as the amount of future credit card sales we’re buying.  Let’s say a merchant has $75,000 monthly sales volume in Visa, MC, and Discover transactions, and just for the heck of it, let’s say they qualified for 130% of their monthly sales.We multiply the two together and get $97,500 which we’re going to round up and say that the merchant could qualify for an advance of $100,000.
 

We want to make sure there’s no confusion between a Capital for Merchants cash advance and a bank loan so let’s go over which words you should use.  You’re probably familiar with the word loan - like a bank loan.  The loan amount is known as the principal balance. It’s the amount of money that’s borrowed. With a cash advance, which is what Capital for Merchants offers, the amount of the advance is called the purchase price. The application process is simple and funds are usually available in 72 hours.

Minimum Requirements to be considered for a Cash Advance

Prohibited Merchants List

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