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  CAN Capital Merchant Cash Advance

CAN Capital Merchant Cash Advance

in Merchant Cash Advance from CAN Capital

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CAN Capital Merchant Cash Advance

Unaffiliated

in Merchant Cash Advance from CAN Capital

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Highlights
Factor Rate 3 - 5
Loan Amount $2,500 - $250,000
Minimum Revenue $150,000
APR  (Fee or Charge Based Product) 30% - 100%

CAN Capital Merchant Cash Advance Review

CAN Capital Merchant Cash Advance is offered by CAN Capital, a direct lender founded in 1998 and based in New York, NY. CAN Capital Merchant Cash Advance is available in 50 states (and Washington, DC).

CAN Capital Merchant Cash Advance FAQ

What APRs does CAN Capital Merchant Cash Advance offer?

The cost of merchant cash advances is typically marketed as a factor rate, not an APR. CAN Capital offers merchant cash advance with a factor rate starting from 3 to 5. The higher the factor rate, the higher the fees. For example, an advance of $20,000 with a factor rate of 1.5 will have a total repayment of $30,000, which includes $10,000 in fees.

However, we ran the numbers and we estimate it has an equivalent APR that ranges from 30% APR up to 100% APR.

Does CAN Capital Merchant Cash Advance charge prepayment fees?

No, CAN Capital Merchant Cash Advance does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the CAN Capital Merchant Cash Advance off early.

How much cash can you advance from CAN Capital Merchant Cash Advance?

Cash advance amounts start at $2,500 and go up to $250,000.

What types of repayment method does CAN Capital Merchant Cash Advance accept?

CAN Capital Merchant Cash Advance accepts the following repayment method from the Merchant:

  • Split withholding
  • ACH withholding

How often does CAN Capital Merchant Cash Advance process payments?

CAN Capital Merchant Cash Advance processes payments daily based on your business's credit card transactions. This means that a percentage of your transactions will automatically be sent to CAN Capital Merchant Cash Advance as payment for your cash advance until the full amount is paid.

Does CAN Capital Merchant Cash Advance charge an origination fee?

Yes, CAN Capital Merchant Cash Advance charges a origination fee of up to 3% of the total amount advanced. CAN Capital also charges a one-time administration fee of $595.

What is the minimum repayment amount required by CAN Capital Merchant Cash Advance?

CAN Capital Merchant Cash Advance requires a minimum payment of 10% of the total amount advanced from the merchant when the payment is due.

What is the estimated funding time for a merchant cash advance via CAN Capital Merchant Cash Advance?

CAN Capital Merchant Cash Advance can approve (or deny) a merchant cash advance application within 24 hours and fund your merchant cash advance within 2 business days of approval.

What are the business financing requirements for CAN Capital Merchant Cash Advance?

To apply for CAN Capital Merchant Cash Advance, you need to provide the following business documentation:

  • Personal guarantee
  • Business license
  • Business bank account

What do you need to qualify for CAN Capital Merchant Cash Advance?

Applicants with a credit score of at least 640 and up to 850 may be eligible for CAN Capital Merchant Cash Advance. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

CAN Capital Merchant Cash Advance does not have or does not disclose a minimum annual income eligibility requirement.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via CAN Capital Merchant Cash Advance. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by CAN Capital Merchant Cash Advance. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Proof of income
  • Recent bank statements
  • Business formation documents
  • Proof of identity

What limitations does CAN Capital Merchant Cash Advance set on the purpose of the merchant cash advance?

CAN Capital Merchant Cash Advance considers merchant cash advance applications for business purposes, such as:

  • Business debt refinance
  • Equipment purchase
  • Hiring
  • Inventory
  • Lease improvement
  • New location
  • Payroll
  • Product or service expansion
  • Technology investment
  • Working capital
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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

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Other Services by CAN Capital

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Administration Fees $595
NSF Fee $0
No Prepayment Fee
Origination Fee (%) Up to 3%
Business Financing Requirements
  • Personal Guarantee
  • Business License
  • Business Bank Account
Credit Score Range 640 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Minimum Months in Business 6
Minimum Revenue $150,000
Verification Documents Required
  • Proof of Income
  • Proof of Identity
  • Business Formation Documents
  • Recent Bank Statements
  • Social Security Number
  • Business Tax Return
  • Employer Identification Number
Collateral Requirement
  • Secured
Intended Use of Funds
  • Equipment Purchase
  • Lease Improvements
  • New Location
  • Product or Service Expansion
  • Working Capital
  • Business Debt Refinance
  • Inventory
  • Payroll
  • Hiring
  • Technology Investment
Approval Speed 24 hours
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Funding Time Range Starting at 2 days
Payment Frequency Daily
Payment Options
  • Automatic Payments
  • Bank Transfer
Repayment Methods
  • Split Withholding
  • ACH Withholding
APR (Fee or Charge Based Product) 30% - 100%
Factor Rate 3 - 5
Loan Amount $2,500 - $250,000
Loan Term 6 - 18 months
Minimum Repayment Requirement 10%

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