Last Updated: 04/18/2025
Forward Financing Merchant Cash Advance
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Last Updated: 04/18/2025
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Highlights
Factor Rate
1.3 - 1.5
Amount Range
$5,000 - $300,000
Minimum Revenue
$60,000
APR (Fee-Based Product)
30% - 50%(Verified 06/21/2024)
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Forward Financing Merchant Cash Advance Review
Forward Financing Merchant Cash Advance is offered by Forward Financing LLC, a direct lender founded in 2012 and based in Boston, MA. Forward Financing Merchant Cash Advance are available in 50 states and Washington, DC.
Forward Financing Merchant Cash Advance FAQ
What APRs does Forward Financing Merchant Cash Advance offer?
The cost of merchant cash advances is typically marketed as a factor rate, not an APR. Forward Financing LLC offers merchant cash advance with a factor rate starting from 1.3 to 1.5 . 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 30% APR up to 50% APR. Does Forward Financing Merchant Cash Advance charge prepayment fees?
Yes, Forward Financing Merchant Cash Advance charges additional fees to borrowers who pay off their Forward Financing Merchant Cash Advance sooner than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a Forward Financing Merchant Cash Advance early.How much cash can you advance from Forward Financing Merchant Cash Advance?
Cash advance amounts start at $5,000 and go up to $300,000.
What types of repayment method does Forward Financing Merchant Cash Advance accept?
Forward Financing Merchant Cash Advance accepts the following repayment method from the Merchant:
- Split withholding
- ACH withholding
How often does Forward Financing Merchant Cash Advance process payments?
Forward Financing 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 Forward Financing Merchant Cash Advance as payment for your cash advance until the full amount is paid.
Does Forward Financing Merchant Cash Advance charge an origination fee?
Yes, Forward Financing Merchant Cash Advance charges a origination fee of $300 to $3,000
What is the minimum repayment amount required by Forward Financing Merchant Cash Advance?
There is no minimum repayment amount.
What is the estimated funding time for a merchant cash advance via Forward Financing Merchant Cash Advance?
Forward Financing Merchant Cash Advance can fund your merchant cash advance within 1 business day of approval.
What are the business financing requirements for Forward Financing Merchant Cash Advance?
To apply for Forward Financing Merchant Cash Advance, you need to provide the following business documentation:
- Business license
- Business bank account
What do you need to qualify for Forward Financing Merchant Cash Advance?
Applicants with a credit score of at least 500 and up to 850 may be eligible for Forward Financing Merchant Cash Advance. Forward Financing 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 are eligible to apply for the services offered by Forward Financing Merchant Cash Advance.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Bank account information
- Business formation documents
- Proof of identity
- Proof of citizenship or residence permit
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