SuperMoney
  GRP Funding Merchant Cash Advance
GRP Funding Merchant Cash Advance
in Merchant Cash Advance from GRP Funding
Unaffiliated

GRP Funding Merchant Cash Advance

Unaffiliated
in Merchant Cash Advance from GRP Funding
Not enough votes for recommendation

Not enough votes for recommendation

Explore a similar product
Try this top product in Merchant Cash Advance.
Finance Factory Merchant Cash Advance
Finance Factory Merchant Cash Advance

Rating not yet determined  

0 reviews
Highlights
Factor Rate N/A
Loan Amount $5,000 - $500,000
Minimum Revenue $150,000
APR  (Fee or Charge Based Product) Starting at 20%

GRP Funding Merchant Cash Advance Review

GRP Funding Merchant Cash Advance is offered by GRP Funding, a direct lender founded in 2007 and based in Springfield, MA. GRP Funding Merchant Cash Advance is available in 50 states (and Washington, DC).

GRP Funding Merchant Cash Advance FAQ

Does GRP Funding Merchant Cash Advance charge prepayment fees?

No, GRP Funding Merchant Cash Advance does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the GRP Funding Merchant Cash Advance off early.

How much cash can you advance from GRP Funding Merchant Cash Advance?

Cash advance amounts start at $5,000 and go up to $500,000.

What types of repayment method does GRP Funding Merchant Cash Advance accept?

GRP Funding Merchant Cash Advance accepts the following repayment method from the Merchant:

  • Split withholding
  • ACH withholding

How often does GRP Funding Merchant Cash Advance process payments?

GRP Funding 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 GRP Funding Merchant Cash Advance as payment for your cash advance until the full amount is paid.

Does GRP Funding Merchant Cash Advance charge an origination fee?

Yes, GRP Funding Merchant Cash Advance charges a origination fee.

What is the minimum repayment amount required by GRP Funding Merchant Cash Advance?

There is no minimum repayment ammount.

What are the business financing requirements for GRP Funding Merchant Cash Advance?

To apply for GRP Funding Merchant Cash Advance, you need to provide the following business documentation:

  • Business license
  • Business bank account

What do you need to qualify for GRP Funding Merchant Cash Advance?

Applicants with a credit score of at least 500 and up to 850 may be eligible for GRP Funding Merchant Cash Advance. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

GRP Funding 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 GRP Funding 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.

U.S. citizens are, of course, eligible for the services offered by GRP Funding Merchant Cash Advance. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Proof of income
  • Recent bank statements
  • Business formation documents
  • Proof of identity

What limitations does GRP Funding Merchant Cash Advance set on the purpose of the merchant cash advance?

GRP Funding 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 GRP Funding

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
Business Financing Requirements
  • Business License
  • Business Bank Account
Credit Score Range 500 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Non-Military
  • Veterans
Minimum Age 18
Minimum Months in Business 9
Minimum Revenue $150,000
Verification Documents Required
  • Proof of Income
  • Proof of Identity
  • Business Formation Documents
  • Recent Bank Statements
  • Social Security Number
  • 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 24 hours
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Payment Frequency Daily
Payment Options Automatic Payments
Repayment Methods
  • Split Withholding
  • ACH Withholding
APR (Fee or Charge Based Product) Starting at 20%
Loan Amount $5,000 - $500,000
Loan Term 4 - 18 months

Be the first to rate

 

Would you recommend GRP Funding 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
(will require moderator approval)