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  PowerUp Lending Group Merchant Cash Advance

PowerUp Lending Group Merchant Cash Advance

in Merchant Cash Advance from PowerUp Lending Group

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PowerUp Lending Group Merchant Cash Advance

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in Merchant Cash Advance from PowerUp Lending Group

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Highlights
Factor Rate N/A
Loan Amount Starting at $20,000
Minimum Revenue $100,000
APR  (Fee or Charge Based Product) N/A

PowerUp Lending Group Merchant Cash Advance Review

PowerUp Lending Group Merchant Cash Advance is offered by PowerUp Lending Group, a direct lender founded in 2008 and based in Great Neck, NY. PowerUp Lending Group Merchant Cash Advance is available in 50 states (and Washington, DC).

PowerUp Lending Group Merchant Cash Advance FAQ

Does PowerUp Lending Group Merchant Cash Advance charge prepayment fees?

Yes, PowerUp Lending Group Merchant Cash Advance charges additional fees to borrowers who pay off their PowerUp Lending Group 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 PowerUp Lending Group Merchant Cash Advance early.

How much cash can you advance from PowerUp Lending Group Merchant Cash Advance?

Cash advance amounts start at $20,000.

What types of repayment method does PowerUp Lending Group Merchant Cash Advance accept?

PowerUp Lending Group Merchant Cash Advance accepts the following repayment method from the Merchant:

  • Split withholding
  • ACH withholding

How often does PowerUp Lending Group Merchant Cash Advance process payments?

PowerUp Lending Group 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 PowerUp Lending Group Merchant Cash Advance as payment for your cash advance until the full amount is paid.

Does PowerUp Lending Group Merchant Cash Advance charge an origination fee?

Yes, PowerUp Lending Group Merchant Cash Advance charges a origination fee starting at 1% of the total amount advanced. PowerUp Lending Group 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 PowerUp Lending Group Merchant Cash Advance?

There is no minimum repayment ammount.

What is the estimated funding time for a merchant cash advance via PowerUp Lending Group Merchant Cash Advance?

PowerUp Lending Group 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 PowerUp Lending Group Merchant Cash Advance?

To apply for PowerUp Lending Group Merchant Cash Advance, you need to provide the following business documentation:

  • Business license
  • Business bank account

What do you need to qualify for PowerUp Lending Group Merchant Cash Advance?

Applicants with a credit score of at least 500 and up to 850 may be eligible for PowerUp Lending Group Merchant Cash Advance.

PowerUp Lending Group 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 PowerUp Lending Group 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 PowerUp Lending Group 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 PowerUp Lending Group Merchant Cash Advance set on the purpose of the merchant cash advance?

PowerUp Lending Group Merchant Cash Advance considers merchant cash advance applications for business purposes, such as:

  • Business debt refinance
  • Equipment purchase
  • Inventory
  • Lease improvement
  • New location
  • Product or service expansion
  • Working capital
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Contact

  • Headquarters
  •   111 Great Neck Road
    Suite 216
    Great Neck, NY 11021
  •   Visit Site

Other Services by PowerUp Lending Group

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 (%) Starting at 1%
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
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Months in Business 6
Minimum Revenue $100,000
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
Approval Speed 24 hours
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Funding Time Range Starting at 1 day
Payment Frequency Daily
Payment Options Automatic Payments
Repayment Methods
  • Split Withholding
  • ACH Withholding
Loan Amount Starting at $20,000

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