Requirements for getting merchant cash advances:
The requirements for getting merchant cash advance aren’t as steep as the requirements in applying for bank loans. Nonetheless, your business still has to pass certain requirements in order to qualify for these. While the actual requirements may differ from one merchant cash advance provider to the next, there are still some standard criteria that businesses need to meet in order to qualify for merchant cash advance. These include:
The company should offer credit card payments. Not supporting credit card payments will automatically disqualify you from applying for merchant cash advance, since repayments are made through the credit card processing company deducting a fixed percentage of your earnings and sending these to the merchant cash advance provider.
Good credit card sales in the past months. Your company should have an average of $3,000 to $5,000 worth of sales in the last few months in order to qualify for merchant cash advance.
The business should have no less than 50 credit card transactions per month.
The business should be in existence for at least a year.
The business should not have any bankruptcies or foreclosures.
Again, different merchant cash advance providers may have a different set of requirements. As such, if you’re thinking of applying for this, be sure to check out the requirements of the merchant cash advance provider you’re thinking of going to so you can see whether or not you qualify for this type of financing option.


