Last Updated: 04/18/2025
ForwardLine Merchant Cash Advance
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in Merchant Cash Advance from ForwardLine
Last Updated: 04/18/2025
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Highlights
Factor Rate
1.155 - 1.34
Amount Range
Up to $150,000
Minimum Revenue
$50,000
APR (Fee-Based Product)
15.5% - 34%(Verified 06/21/2024)
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ForwardLine Merchant Cash Advance Review
ForwardLine Merchant Cash Advance is offered by ForwardLine, a direct lender founded in 2003 and based in Woodland Hills, CA. ForwardLine Merchant Cash Advance are available in 50 states and Washington, DC.
ForwardLine Merchant Cash Advance FAQ
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 1.25 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 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:
- Split withholding
- ACH withholding
How often does ForwardLine Merchant Cash Advance process payments?
ForwardLine 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 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. An 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 amount.
What is the estimated funding time for a merchant cash advance via ForwardLine Merchant Cash Advance?
ForwardLine Merchant Cash Advance can 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:
- Business license
- Business bank account
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.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by ForwardLine 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
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