Business Funding And Merchant Cash Advance Services In USA.
Business owners of all size face sometimes face a challenge in getting loans and merchant cash advance. Quadrapay connects merchants with Local and National Lending Companies so that our merchants grow Big!. We assist applicants in the entire process. We do not ask for any upfront charges. Our partnership with reliable lenders supports us in keeping this channel open. We understand that every business is different, and that is why the funding requirement and payment terms have to suit the requirements of the merchants. Our Lending partners create customized plans for you so that the final product suits your needs.
Funding Products At A Glance
Merchant Cash Advance ( MCA) For All USA States.
This is an excellent product for merchants that are experiencing low credit score and require cash for the business. The funding is recollected by the lender from the future merchant account processing receivables on a daily basis. This allows merchants to repay the loan quickly and still focus on the business. Merchants can get a maximum advance of up to $400,000. Duration of the contract can range between 3 months to 18 months. You may get lucky with factor rates as low as 1.15.
Who Can Apply For Merchant Cash Advance And What Are The Requirements?
Merchant Cash Advance is for merchants in all USA states. The credit score must be 500+, and the business should have at least six months of active processing history with an average of $15,000+ average monthly bank deposit.
KYC Required For Merchant Cash Advance In USA.
The lender will require a set of documents. These are called KYC or Know your customer documents in the Banking and Financial Industry. These documents are listed below.
- Loan Agreement Signed By the Parties.
- Lease Agreement/Mortgage Agreement
- Photo ID
- 3 Months Recently Business Bank Statement
- If the funding value is over $100,000, then the most recent business tax return is also required.
Working Capital Loan For Small Businesses
If your business is in a financially healthy situation, then small business working capital can be an excellent product for you. The repayment term is shorter than most other products. It is one of the most popular funding products among American small businesses.
Features Of Working Capital Loan For Small Businesses
- The maximum loan value of up to the US $400,000.
- Term length ranging from 6 to 18 months.
- Apply if the factor rate is as low as 1.15
- Daily and Weekly Payments In Automatic mode.
Prerequisites For Small Business Working capital Loan
- Fico Score must be 500+
- Must be active in business for over six months plus.
- Average Monthly Bank deposit USD 15,000+
KYC Documents For Small Business Working Capital Loan
- A signed business capital loan agreement
- Lease/Mortgage Agreements
- Photo ID and Address Proof of Applicant
- For funding over $100,000, a recent tax return is required.
- 3-4 months latest bank statement
Long Term Small Business Expansion Loans
This product is for businesses with excellent financial standing and decent credit rating. Funding can be as high as $250,000, and the term length can be between 18 to 24 months. The Interest rate can start at 9.99% with Automatic weekly payments.
Prerequisites For Small Business Expansion Loan
- Fico Score Must be 600+
- Average Monthly Bank Deposit should be over USD 15,000 plus.
- The business should be at least three years old and active.
- The average daily balance must be USD 3,000 Plus.
KYC Documents For Business Expansion Loan
- Signed Agreement
- Photo ID
- Lease/Mortgage Agreement
- Recent Bank statements for three months
- For funding of over $100,000, the recent tax return is mandatory.
Factor Rate = Payback Amount ÷ Funded Amount.
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