Elevate Funding Merchant Cash Advance Review

Elevate Funding Merchant Cash Advance is offered by Elevate Funding, a financial services company founded in 2015 and based in Gainesville, FL. Elevate Funding Merchant Cash Advance is available in 50 states (and Washington, DC).

What APRs does Elevate Funding Merchant Cash Advance offer?

Does Elevate Funding Merchant Cash Advance charge prepayment fees?

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

What types of repayment method does Elevate Funding Merchant Cash Advance accept?

Elevate Funding Merchant Cash Advance accepts the following repayment method from the Merchant:

• Split withholding
• ACH withholding

How often does Elevate Funding Merchant Cash Advance process payments?

Elevate Funding 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 Elevate Funding Merchant Cash Advance as payment for your cash advance until the full amount is paid.

Does Elevate Funding Merchant Cash Advance charge an origination fee?

No, Elevate Funding Merchant Cash Advance does not charge an origination fee. A origination fee is what some lenders charge for processing, underwriting, and funding a business financing product. Typically fees range from 0.5% to 5% of the total amount advanced. Whenever possible, go with lenders that don’t charge origination fees.

What is the minimum repayment amount required by Elevate Funding Merchant Cash Advance?

There is no minimum repayment ammount.

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

Elevate Funding Merchant Cash Advance can approve (or deny) a merchant cash advance application within 24 hours and fund your merchant cash advance within 1 business day of approval.

What are the business financing requirements for Elevate Funding Merchant Cash Advance?

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

• Business license
• Business bank account

What do you need to qualify for Elevate Funding Merchant Cash Advance?

When it comes to credit scores, Elevate Funding doesn't have a set minimum or maximum. People with all types of credit can apply. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Elevate Funding 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 Elevate Funding 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 Elevate Funding 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 Elevate Funding Merchant Cash Advance set on the purpose of the merchant cash advance?

Elevate Funding Merchant Cash Advance considers merchant cash advance applications for business purposes, such as:

• Business debt refinance
• Equipment purchase
• Lease improvement
• New location
• Product or service expansion
• Working capital