Stop waiting for marketplace payout schedules and get the financing you need to grow your online business!
PIRS Capital is a leading funding platform for merchant sellers nationwide. With our merchant cash advance loans Program you’ll quickly receive the funding you need to drive more sales and increase your profitability.
Once you connect your e-Commerce store we can get you an offer within 24 hrs.
Cash in Your Account
Within 48 hours after
Grow Your Business
Start focusing on growth without worrying about cash flow constraints!
✔ Owner or majority owner must be a US citizen
✔ Must have US bank accounts
✔ Have to be selling for at least 1 year
✔ Minimum sales per month has to be $15000 USD
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There’s a reason so many small businesses choose PIRS Capital, a proven track record of success matters. Our culture and core values are founded on the principle of creating and maintaining business relationships with one ultimate goal – your success.
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Merchant LoansFor startup companies or businesses that need funding for expansion, while also having a negligible credit score, merchant loans can be very useful. The loan is paid back over time with a percentage of the payments received by the company from customers through a card terminal. This means that any business with a card machine can benefit from merchant services small business loans. To find out more about the merchant cash advance definition, how they work, and what their pros and cons are, read on!
What Is an MCA?A merchant loan — otherwise known as a merchant advance, merchant cash advance (MCA), or business cash advance— is a specific type of loan used by companies that take payment from customers using a card machine. Merchant advances differ from traditional small business loans in several key ways. Firstly, the application process for a merchant loan isn’t as rigorous as a bank loan application. Secondly, when it comes to merchant account loans, bad credit is not as much of an issue as with traditional banks loans. Furthermore, merchant advance repayment options have a higher degree of flexibility than small business loan repayments tend to. Small startup businesses generally benefit the most from this type of loan. This is because, generally, such companies have not been in operation long enough to build up a good credit score. However, due to the way in which merchant cash advance loans are repaid, it is worth keeping in mind that they are most beneficial to companies that receive a large number of card payments every month.
How Do Merchant Business Loans Work?Merchant loans are a flexible type of loan that small startup companies can take out to help them get off to a good start. These types of loans are paid back through installments over time. The lender takes a percentage of money from each card transaction the business receives from its customers. You may be wondering how merchant loans work. While the application process for a merchant cash advance is usually not as strict as those for traditional loans, there is still a contract between lender and borrower. It is important to be aware of how this contract works and how you will have to go about repaying your loan before you commit to a business cash advance.
Advance AmountThe advance amount is the amount of money the lender agrees to give the applicant. Before applying for a merchant advance, it’s important that you take the time to carefully assess exactly how much money you need to borrow from the lender. If you ask for more than you need, that could prove to be a costly mistake, as you will end up needing to pay back more.
Payback AmountBecause of the addition of interest, the payback amount will always end up being a greater sum than the advance amount you took out to begin with. This interest fee, known as a factor, can sometimes be a great deal more than the interest fee for a traditional loan. Keep this in mind when making your initial assessment to figure out how much money you need to borrow from the lender. Every time your business takes payment through your card machine, an agreed-upon percentage of the total revenue goes towards paying back your loan. Usually, it will take around six months to pay back your loan, but this depends on how much money you borrowed, the monthly revenue you make from customers’ card payments, and the percentage of that revenue that goes to the lender.
HoldbackWhen you’re repaying your merchant loan, you will have to hold back a set amount of money from your daily card transactions. If you’re considering taking out a cash advance, you should first consider whether or not you will feasibly be able to make these payments.
How Much Can I Borrow?Different merchant lenders will offer different amounts of money, but generally speaking, the amount you can borrow when you take out a business cash advance is highly flexible. Merchant cash advance loans can range anywhere from just a few thousand dollars to hundreds of dollars. In the end, the biggest determining factors in how much you should borrow are:
- How much do you truly need to loan?
- Can you feasibly pay this money back, with interest?
What Are Merchant Account Business Loans Used For?Funds acquired from a merchant cash advance may go to a wide variety of costs. Here is just a short list of possibilities to give you some ideas of what you could put your loan towards:
- Carrying out advertising campaigns
- Investing in new equipment and technology
- Buying stock
- Hiring and training new staff
- Making any necessary repairs or refurbishments