
ForwardLine Merchant Cash Advance
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Factor Rate | 1.155 - 1.34 |
Loan Amount | Up to $150,000 |
Minimum Revenue | $50,000 |
APR | 15.5% - 34% |
ForwardLine Merchant Cash Advance Review
ForwardLine Merchant Cash Advance is offered by ForwardLine, founded in 2003 and based in Woodland Hills, CA. ForwardLine Merchant Cash Advance is available in 51 states across the USA.
What APRs does ForwardLine Merchant Cash Advance offer?
The cost of merchant cash advances is typically marketed as a factor rate, not an APR. ForwardLine offers merchant cash advance with a factor rate starting from 1.155 to 1.34. 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 15.5% APR up to 34% APR.Does ForwardLine Merchant Cash Advance charge prepayment fees?
Yes, ForwardLine Merchant Cash Advance charges additional fees to borrowers who pay off their ForwardLine 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 ForwardLine Merchant Cash Advance early.What types of repayment method does ForwardLine Merchant Cash Advance accept?
ForwardLine Merchant Cash Advance accepts the following repayment method from the Merchant:
How often does ForwardLine Merchant Cash Advance process payments?
ForwardLine Merchant Cash Advance processes payments based on your business's credit card transactions. This means that a percentage of your transactions will automatically be sent to ForwardLine Merchant Cash Advance as payment for your cash advance until the full amount is paid.
Does ForwardLine Merchant Cash Advance charge an origination fee?
No, ForwardLine 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 ForwardLine Merchant Cash Advance?
There is no minimum repayment ammount.
What is the estimated funding time for a merchant cash advance via ForwardLine Merchant Cash Advance?
ForwardLine 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 ForwardLine Merchant Cash Advance?
To apply for ForwardLine Merchant Cash Advance, you need to provide the following business documentation:
What do you need to qualify for ForwardLine Merchant Cash Advance?
Applicants with a credit score of at least 640 and up to 850 may be eligible for ForwardLine Merchant Cash Advance. The minimum age to be eligible is 18 or the state minimum, whichever is higher.ForwardLine 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. APRs for the ForwardLine Merchant Cash Advance product fall outside of the MLA limits, and as a result, the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.
To qualify, applicants may need to provide the following documentation:
What limitations does ForwardLine Merchant Cash Advance set on the purpose of the merchant cash advance?
ForwardLine Merchant Cash Advance considers merchant cash advance applications for business purposes, such as:
Contact
- Headquarters
-
21700 Oxnard Street, Suite 1450
Woodland Hills, CA 91367 USA - Visit Site
- Email Support
Other Services by ForwardLine
Availability
- Alaska
- Alabama
- Arkansas
- Arizona
- California
- Colorado
- Connecticut
- Washington, DC
- Delaware
- Florida
- Georgia
- Hawaii
- Iowa
- Idaho
- Illinois
- Indiana
- Kansas
- Kentucky
- Louisiana
- Massachusetts
- Maryland
- Maine
- Michigan
- Minnesota
- Missouri
- Mississippi
- Montana
- North Carolina
- North Dakota
- Nebraska
- New Hampshire
- New Jersey
- New Mexico
- Nevada
- New York
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Virginia
- Vermont
- Washington
- Wisconsin
- West Virginia
- Wyoming
Feature Breakdown
Application Fee | $0 |
No Origination Fee |
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