What is the Best Merchant Cash Advance Program?

Feb 28, 2012

 

Looking for The Best Merchant Cash Advance Program?

At eMerchantBroker.com we will help you find the lowest cost merchant cash advance program. We will match your business to a merchant cash advance provider in our network. We have programs to help any business get the working capital they need.

We can even help business owners with bad credit. If you have a bankruptcy, judgments, tax liens, whatever the case, you can get approved for a merchant cash advance. A credit card processing advance is not a loan, it’s receivables financing. The lender is purchasing your future sales, for a discounted rate.

How much does a merchant cash advance cost?

First off, the entire cost of a merchant cash advance is a tax deduction for your business. You can write off the entire amount as a business expense. A merchant cash advance lender will look at your credit card processing volume over the last 3-6 months and will come up with your average monthly volume of Visa and MasterCard transactions.

The merchant provider will then make an offer based on the applicants time in business, transaction size and type and credit.

Each merchant cash advance offer is unique and their is no standard fee or percentage of holdback. Below is an EXAMPLE of a merchant cash advance offer.

Joes Restaurant processes $20,000 per month in credit card transactions and they need $30,000 for kitchen upgrades.

The Lender will purchase $36,000 of future sales for $30,000

The Lender will advance the merchant the full $30,000 and collect a small percentage of the daily sales until we have recouped the $36,000 in sales that we purchased for $30,000

 

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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