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  In Advance Capital Merchant Cash Advance

In Advance Capital Merchant Cash Advance

in Merchant Cash Advance from In Advance Capital

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In Advance Capital Merchant Cash Advance

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in Merchant Cash Advance from In Advance Capital

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Highlights
Factor Rate 1.15 - 1.5
Loan Amount $5,000 - $500,000
Minimum Revenue $180,000
APR  (Fee or Charge Based Product) N/A

In Advance Capital Merchant Cash Advance Review

In Advance Capital Merchant Cash Advance is offered by In Advance Capital, a direct lender founded in 2016 and based in New York, NY. In Advance Capital Merchant Cash Advance is available in 50 states (and Washington, DC).

In Advance Capital Merchant Cash Advance FAQ

What APRs does In Advance Capital Merchant Cash Advance offer?

The cost of merchant cash advances is typically marketed as a factor rate, not an APR. In Advance Capital offers merchant cash advance with a factor rate starting from 1.15 to 1.5. The higher the factor rate, the higher the fees. For example, an advance of $20,000 with a factor rate of 1.5 will have a total repayment of $30,000, which includes $10,000 in fees.

, but they do not disclose their rates.

Does In Advance Capital Merchant Cash Advance charge prepayment fees?

Yes, In Advance Capital Merchant Cash Advance charges additional fees to borrowers who pay off their In Advance Capital 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 In Advance Capital Merchant Cash Advance early.

How much cash can you advance from In Advance Capital Merchant Cash Advance?

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

What types of repayment method does In Advance Capital Merchant Cash Advance accept?

In Advance Capital Merchant Cash Advance accepts the following repayment method from the Merchant:

  • Split withholding
  • ACH withholding

How often does In Advance Capital Merchant Cash Advance process payments?

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

Does In Advance Capital Merchant Cash Advance charge an origination fee?

Yes, In Advance Capital Merchant Cash Advance charges a origination fee of 3% to 5% of the total amount advanced. In Advance Capital 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 In Advance Capital Merchant Cash Advance?

There is no minimum repayment ammount.

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

In Advance Capital Merchant Cash Advance can approve (or deny) a merchant cash advance application within 3 hours and fund your merchant cash advance within 1 business day of approval.

What are the business financing requirements for In Advance Capital Merchant Cash Advance?

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

  • Business license
  • Business bank account

What do you need to qualify for In Advance Capital Merchant Cash Advance?

Applicants with a credit score of at least 450 and up to 850 may be eligible for In Advance Capital Merchant Cash Advance. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

In Advance Capital 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 In Advance Capital 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 In Advance Capital 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
  • U.S. tax identification number

What limitations does In Advance Capital Merchant Cash Advance set on the purpose of the merchant cash advance?

In Advance Capital Merchant Cash Advance considers merchant cash advance applications for business purposes, such as:

  • Business debt refinance
  • Equipment purchase
  • Lease improvement
  • New location
  • Product or service expansion
  • Working capital
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Other Services by In Advance Capital

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

Origination Fee (%) 3% - 5%
Business Financing Requirements
  • Business License
  • Business Bank Account
Credit Score Range 450 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Minimum Months in Business 6
Minimum Revenue $180,000
Verification Documents Required
  • Proof of Income
  • Proof of Identity
  • Business Formation Documents
  • U.S. Tax Identification Number
  • 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
Approval Speed 3 hours
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Funding Time Range 1 - 2 days
Payment Frequency Daily
Payment Options Automatic Payments
Repayment Methods
  • Split Withholding
  • ACH Withholding
Factor Rate 1.15 - 1.5
Loan Amount $5,000 - $500,000
Loan Term 3 - 18 months

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