SuperMoney
  Finance Factory Merchant Cash Advance

Finance Factory Merchant Cash Advance

in Merchant Cash Advance from Finance Factory

Claimed

Finance Factory Merchant Cash Advance

Claimed

in Merchant Cash Advance from Finance Factory

Not enough votes for recommendation

Not enough votes for recommendation

Cast your vote

Would you recommend Finance Factory Merchant Cash Advance to your friends?

Thanks for your vote!

You voted: May or may not recommend

Highlights
Factor Rate 1.14 - 1.50
Loan Amount $5,000 - $1,000,000
Minimum Revenue N/A
APR  (Fee or Charge Based Product) 14% - 50%

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 is 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 1.5 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 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 ammount.

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

Finance Factory Merchant Cash Advance can approve (or deny) a merchant cash advance application within 48 hours and 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 660 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.

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 Finance Factory 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 Finance Factory Merchant Cash Advance. Permanent resident / green card holders are also eligible to apply. 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
  • Business formation documents
  • Driver's license
  • Government issued photo ID
  • Proof of identity

What limitations does Finance Factory Merchant Cash Advance set on the purpose of the merchant cash advance?

Finance Factory 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
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
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.

Contact

Other Services by Finance Factory

Message From Finance Factory

Finance Factory is a leader in the startup and alternative business funding spaces. Founded in 2006, Finance Factory has helped solve the challenge of early-stage business owners obtaining capital to acquire, launch or grow their small business. Over the past 12+ years, Finance Factory has successfully established over $1 billion in funding for entrepreneurs nationwide. Finance Factory has an A+ Accredited rating with the Better Business Bureau.

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

No Prepayment Fee  
Origination Fee (%) 5% - 10%
Business Financing Requirements
  • Business License
  • Business Bank Account
Credit Score Range 660 - 750
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
  • Non-Resident
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Verification Documents Required
  • Recent Pay Stubs
  • Proof of Income
  • Proof of Identity
  • Business Formation Documents
  • Government Issued Photo ID
  • U.S. Tax Identification Number
  • Recent Bank Statements
  • Social Security Number
  • Driver License (or other photo ID)
  • Business Tax Return
  • Employer Identification Number
Collateral Requirement Unsecured
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 48 hours
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Funding Time Range 1 - 3 days
Payment Frequency Daily
Payment Options Automatic Payments
Repayment Methods
  • Split Withholding
  • ACH Withholding
APR (Fee or Charge Based Product) 14% - 50%
Factor Rate 1.14 - 1.50
Loan Amount $5,000 - $1,000,000
Loan Term 6 - 60 months

Be the first to rate

 

Would you recommend Finance Factory Merchant Cash Advance to your friends?

Before we publish your vote:

Please explain your vote by sharing your experience.

Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

Please write a review to submit your vote
Cancel my vote
(will require moderator approval)

SUPERMONEY NET RECOMMENDATION SCORE

0%

Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.