Frequently Asked Questions

What is a Merchant Cash Advance and how can it help my business?
Many small business owners are unable to obtain traditional bank loans because they have insufficient credit or collateral. As a result, more and more have been turning to Merchant Cash Advances for infusions of working capital or other immediate cash needs.

How does a Merchant Cash Advance work?
It advances cash to merchants based on anticipated future sales, offering an alternative to the traditional bank loan. With a Merchant Cash Advance - which is not a loan - businesses receive a lump sum in return for a percentage of their future credit card sales receipts.

How does a Merchant Cash Advance compare to a traditional bank loan?
First of all, qualifying for a Merchant Cash Advance is far easier than a bank loan. No checks are ever written and there are no fixed daily, weekly or monthly payments, late fees, hidden fees or interest rates. In addition, there are no personal guarantees, no closing costs or loss in equity or need to post collateral to secure the advance.

How difficult will it be for me to qualify?
Most businesses will qualify. Generally, all you need to show is that you’ve been in business for over a year and process a minimum of $5,000 a month in credit card receipts.

How long will it take to find out if I qualify?
Pre-approval usually takes place within 24 hours. Funding takes up to 7 business days from receipt of application, depending on the amount of the transaction.

How long will it take to get the cash?
Once the agreement is signed, the money will be received as early as the next business day.

How much can I hope to receive?
Our merchant cash advances range from $5,000 to $300,000.

What can I use the money for?
You are free to use the money in any way you feel is best for your business. Many of our customers use it for expansion, advertising, new equipment or increased (or seasonal) inventory. It is also frequently used for unforeseen emergencies or to buy out a partner or acquire a new location.

Will I need to change credit card processors?
You may need to change to our preferred credit card processor.

Will I receive the same low credit card rates?
The credit card processor we use will either match or beat your current rates.

What if I have questions?
Just call 800-779-7101 to speak to a Choice Merchant Funding customer service representative 24 hours a day/7 days a week.

How do I get started?
To get started simply Apply For Funding and a funding specialist will get in touch with you shortly. You can also choose to call us toll-free at 800-779-7101.