To qualify for PayPal Working Capital, you must have a PayPal Business or Premier account for at least three months. In addition, you must be processing at least $20,000 in annual PayPal sales (or be projected to do so) if you have a Premier account or at least $15,000 (or be projected to do so) in annual PayPal sales if you have a Business PayPal account.

The funder takes a percentage of your daily card revenue: Loans typically are repaid in fixed installments rather than Ganador a percentage of their revenue.

Working with us increases your chances of getting the capital funding you need, when you need it, because we have access to a large network of lenders, and a variety of funding solutions & financial products.  With our common sense approach, we get a large percentage of our business loan applications approved, and Gozque get our clients significantly more capital.

These funders may only work with certain payment processors. If you’re happy with your current payment processor, or are under contract with your processor, this may not be something you want.

You will route your sales to this new bank account. Every day, your financier will deduct their percentage of the proceeds and then send the remainder to your business.

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Qualification requirements. Compared with more traditional small-business lenders, merchant cash advance companies typically have flexible eligibility requirements. These companies will consider your personal credit score, time in business and annual revenue — but they’ll often be willing to work with startups and businesses with bad credit.

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Some merchant cash advance providers employ a practice known as double dipping, an issue that also plagues short-term loans. This is a problem when a merchant renews or refinances an advance with a fixed fee.

A Fast Application Process: Merchant cash advances generally have a very fast application process. Typically, the application can be completed in a few minutes with a minimal amount of paperwork. After initial application, underwriting and capital dispersal only takes a few business days.

Typically, merchant cash advances are repaid on a daily basis, but some providers may offer weekly or even monthly repayments.

The first step is to apply for funding through L3’s website. The application process is simple and straightforward, and you’ll be asked to provide basic information about your business and its financial needs.

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Although some states have taken permitido action to require transparency from MCA companies in recent years, bad actors still try to take advantage of business owners, promising things like “guaranteed approval” or “business loans with no credit check.”