Business Loans & Merchant Cash Advances
Easy Capital For Your Business
Whether you’re looking for a Traditional Business Loans or a way to leverage your daily credit card sales (Merchant Cash Advances), Easy Pay Direct has options for you. We’ve partnered with some of the best lenders in the country to quickly supply working capital for small and medium sized businesses.
A quick online application and we’ll pair you with the lender that fits your needs. Unfortunately, the lending world is full of companies that will promise the world and never deliver. We only work with lenders who we’ve vetted and have shown that they assess businesses quickly and fund quickly. Rates vary based on individual
situations.
Merchant Cash Advance
Merchant Cash Advances are a fantastic, creative approach to securing capital for your business. While a business owner’s personal credit does play a role, it’s not the main priority when getting a Cash Advance. The major factor is your monthly credit card sales. Most Merchant Cash Advance companies will determine how much they give you based on a percentage of your monthly credit card sales. Merchant Cash Advances can be up to $500,000.
HOW MERCHANT CASH ADVANCES WORK
Lenders assess how much you’re selling on credit cards each month.
They “advance” you money against the credit cards sales that will come in over the next 6-12 months.
They hold back 10-20% of your daily credit card sales to repay the amount they gave you. Typically the full amount you were advanced is paid back over 6-12 months.
HOW MERCHANT CASH ADVANCE TERMS WORK:
Merchant Cash Advances are similar to a loan, but because they are ‘advancing credit card sales they know you’ll be receiving in the future’, the language is a little different.
Merchant Cash Advances are paid back at a factor of the cash advance amount. For example, if the Cash Advance amount is $100,000 and the factor is 1.22; You will payback $122,000.
TYPICAL MERCHANT CASH ADVANCE TERMS:
The payback length and cost of a Merchant Cash Advance range based on:
-
- Business type
- Monthly credit card sales
- Business credit (not a huge factor)
- Personal credit (not a huge factor)
Here is the range you can expect:
Length of Payback: 6-18 Months
Cash Advance Factor: 1.12-1.48
Traditional Business Loans
Traditional business loans are a less expensive option to get capital for your business. While we can help fund loans up to $500,000, smaller loan amounts tend to fund much quicker. With traditional business loans you can expect to be asked for more documentation. This can include bank statements, profit and loss statements, tax returns and a variety of personal financial documents. Unlike merchant cash advances, they are not dependent on your credit card sales, but the overall financial
strength of your company.
TYPICAL BUSINESS LOAN TERMS:
The payback length and rates charges for a traditional loan range based on
-
- Business type
- Monthly credit card sales
- Business credit
- Personal credit
- Profitability
- Cashflow analysis
- Other factors
Here is the range you can expect:
Length of Payback: 6-36 Months
Loan Rate: 3%-22%
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