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  Knight Capital Funding Merchant Cash Advance

Knight Capital Funding Merchant Cash Advance

in Merchant Cash Advance from Knight Capital Funding

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Knight Capital Funding Merchant Cash Advance

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in Merchant Cash Advance from Knight Capital Funding

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Highlights
Factor Rate 1.19 - 1.40
Loan Amount $5,000 - $250,000
Minimum Revenue $120,000
APR  (Fee or Charge Based Product) 19% - 40%

Knight Capital Funding Merchant Cash Advance Review

Knight Capital Funding Merchant Cash Advance is offered by Knight Capital Funding, a financial services company founded in 2014 and based in Dover, DE. Knight Capital Funding Merchant Cash Advance is available in 50 states (and Washington, DC).

Knight Capital Funding Merchant Cash Advance FAQ

What APRs does Knight Capital Funding Merchant Cash Advance offer?

The cost of merchant cash advances is typically marketed as a factor rate, not an APR. Knight Capital Funding offers merchant cash advance with a factor rate starting from 1.19 to 1.40. 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 19% APR up to 40% APR.

Does Knight Capital Funding Merchant Cash Advance charge prepayment fees?

No, Knight Capital 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 Knight Capital Funding Merchant Cash Advance off early.

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

Cash advance amounts start at $5,000 and go up to $250,000.

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

Knight Capital Funding Merchant Cash Advance accepts the following repayment method from the Merchant:

  • Split withholding
  • ACH withholding

How often does Knight Capital Funding Merchant Cash Advance process payments?

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

Does Knight Capital Funding Merchant Cash Advance charge an origination fee?

Yes, Knight Capital Funding Merchant Cash Advance charges a origination fee of 0% to 2.5% of the total amount advanced. Knight Capital Funding 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 Knight Capital Funding Merchant Cash Advance?

There is no minimum repayment ammount.

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

Knight Capital Funding Merchant Cash Advance can approve (or deny) a merchant cash advance application within 72 hours and fund your merchant cash advance within 1 business day of approval.

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

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

  • Business license
  • Business bank account

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

Knight Capital Funding Merchant Cash Advance does not require or does not disclose a credit score minimum.

Knight Capital 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. Active duty service members and their covered dependents are eligible to apply for a loan via Knight Capital Funding 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 Knight Capital 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 Knight Capital Funding Merchant Cash Advance set on the purpose of the merchant cash advance?

Knight Capital Funding 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 Knight Capital 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
Origination Fee (%) 0% - 2.5%
Business Financing Requirements
  • Business License
  • Business Bank Account
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Months in Business 6
Minimum Revenue $120,000
Verification Documents Required
  • Proof of Income
  • Proof of Identity
  • Business Formation Documents
  • Recent Bank Statements
  • Social Security Number
  • Business Tax Return
  • Employer Identification Number
Approval Speed 72 hours
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Funding Time Range 1 - 3 days
Payment Frequency Daily
Payment Options
  • Automatic Payments
  • Bank Transfer
Repayment Methods
  • Split Withholding
  • ACH Withholding
APR (Fee or Charge Based Product) 19% - 40%
Factor Rate 1.19 - 1.40
Loan Amount $5,000 - $250,000
Loan Term 2 - 8 months

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