FAQ - Cash Advance
1) How does merchant qualify?
2) How easy is it to get approved?
3) How does the program work?
4) How much does the cash advance cost?
5) Will bad credit affect the cash advance request?
6) How much of a cash advance can be received?
7) How does the merchant pay back the cash advance?
8) Is this a loan?
9) When the first cash advance is repaid, how easy is it to reapply?
10) How complicated is the paperwork?
11) Can a merchant receive an additional advance while an advance from
another company is still outstancing?
12) Are there any up-front fees to apply for a cash advance?
13) If overall sales are high but the MC/VIsa/Amex/Disc receipts are low
can I still receive a cash advance?
14) Can a cash advance be renewed?
- Merchant has a business that accepts Visa/MC/Amex/Disc as a form of payment
- Merchant processes a minimum of $3,500 dollars a month
- Merchant provides three months of recent credit card statements
- Merchant has been in business for at least twelve (12) months.
2) How easy is it to get approved?
- It is a lot easier and faster than a bank loan. The majority of applications are
approved within 48 hours.
3) How does the program work?
- The merchant is advanced up to $1,000,000 dollars based on their current Visa/MC
/Amex/Disc receipts. 25% is deducted from their ongoing Visa/MC/Amex/Disc
receipts on a Daily basis. There is no fixed payment and no fixed term.
4) How much does the cash advance cost?
- 1.35% of the amount of the cash advance
5) Will bad credit affect the cash advance request?
- It is not necessary to have good credit to receive a cash advance. A poor credit
rating, including delinquencies, will not normally affect a cash advance
6) How much of a cash advance can be received?
- As little as $1,500 to as much as $1,000,000
7) How does the merchant pay back the cash advance?
- Payback is automatically deducted on a daily basis. It is based on the percentage of
the merchant's daily Visa/MC/Amex/Disc receipts.
8) Is this a loan?
- No. This is not a loan. It is a purchase of future receivables.
9) When the first cash advance is repaid, how easy is it to reapply?
- As long as there is no change in a merchant's financial status, the approval is
automatic.
10) How complicated is the paperwork?
- The paperwork that is filled out is quite simple and takes no more than ten or fifteen
minutes to complete.
11) Can a merchant receive an additional advance while an advance from
another company is still outstancing?
- Yes, but any outstanding cash advances from the original loan must first be paid off.
12) Are there any up-front fees to apply for a cash advance?
- No. The application is free and there are no up-front fees charges.
13) If overall sales are high but the MC/VIsa/Amex/Disc receipts are low
can I still receive a cash advance?
- Yes. We can custom tailor a loan.
14) Can a cash advance be renewed?
- When the advance balance is down to approximately 20% of the original balance,
the merchant can requests a renewal. As a matter of fact, most of our customers opt
to do just this. The owner of the business can request a renewal by phone, fax or e-
mail. Renewals are usually funded in less than 72 hours of being requested.
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Merchant Cafe is an Agent of United Bank Card, a registered ISO/MSP of First
National Bank of Omaha, 1620 Dodge St., Omaha, NE 68197
National Bank of Omaha, 1620 Dodge St., Omaha, NE 68197
AmeriCash