Last Updated: 04/18/2025
Finance Factory Merchant Cash Advance
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in Merchant Cash Advance from Finance Factory
Last Updated: 04/18/2025
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Highlights
Factor Rate
1.14 - 1.50
Amount Range
$5,000 - $1,000,000
Minimum Revenue
N/A
APR (Fee-Based Product)
14% - 50%(Verified 06/21/2024)
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Finance Factory Merchant Cash Advance Review
Finance Factory Merchant Cash Advance is offered by Finance Factory, a marketplace lending platform founded in 2006 and based in Towson, MD. Finance Factory Merchant Cash Advance are available in 50 states and Washington, DC.
Finance Factory Merchant Cash Advance FAQ
What APRs does Finance Factory Merchant Cash Advance offer?
The cost of merchant cash advances is typically marketed as a factor rate, not an APR. Finance Factory offers merchant cash advance with a factor rate starting from 1.14 to 1.50 . The higher the factor rate, the higher the fees. For example, an advance of $20,000 with a factor rate of 1.25 will have a total repayment of $25,000, which includes $5,000 in fees.
However, we ran the numbers and we estimate it has an equivalent APR that ranges from 14% APR up to 50% APR. Does Finance Factory Merchant Cash Advance charge prepayment fees?
No, Finance Factory Merchant Cash Advance does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the Finance Factory Merchant Cash Advance off early.
How much cash can you advance from Finance Factory Merchant Cash Advance?
Cash advance amounts start at $5,000 and go up to $1,000,000.
What types of repayment method does Finance Factory Merchant Cash Advance accept?
Finance Factory Merchant Cash Advance accepts the following repayment method from the Merchant:
- Split withholding
- ACH withholding
How often does Finance Factory Merchant Cash Advance process payments?
Finance Factory 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 Finance Factory Merchant Cash Advance as payment for your cash advance until the full amount is paid.
Does Finance Factory Merchant Cash Advance charge an origination fee?
Yes, Finance Factory Merchant Cash Advance charges a origination fee of 5% to 10% of the total amount advanced . Finance Factory Merchant Cash Advance deducts the fee directly from your merchant cash advance amount before disbursing merchant cash advance proceeds, so make sure you take this fee into account when deciding how much you need to borrow.
What is the minimum repayment amount required by Finance Factory Merchant Cash Advance?
There is no minimum repayment amount.
What is the estimated funding time for a merchant cash advance via Finance Factory Merchant Cash Advance?
Finance Factory Merchant Cash Advance can fund your merchant cash advance within 1 business day of approval.
What are the business financing requirements for Finance Factory Merchant Cash Advance?
To apply for Finance Factory Merchant Cash Advance, you need to provide the following business documentation:
- Business license
- Business bank account
What do you need to qualify for Finance Factory Merchant Cash Advance?
Applicants with a credit score of at least 680 and up to 750 may be eligible for Finance Factory Merchant Cash Advance. The minimum age to be eligible is 18 or the state minimum, whichever is higher. Finance Factory Merchant Cash Advance does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders with a U.S. tax identification number are eligible to apply for the services offered by Finance Factory Merchant Cash Advance. An uncommon feature is for lenders to offer their services to non-residents. Finance Factory is one of the few that does.
To qualify, applicants may need to provide the following documentation:
- Recent pay stubs
- Proof of income
- Bank account information
- Business formation documents
- Driver's license or other government photo ID
- Government issued photo ID
- Proof of identity
- U.S. tax identification number
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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.
