A Merchant Cash Advance is not a loan
A Cash Advance does not have interest rates, set payments, due dates, or late payment penalties. We simply purchase a portion of the merchant’s future credit card sales at a discount for a lump sum purchase price upfront. Then, a fixed percentage of the merchant’s payment card sales is automatically remitted to us each day from their actual credit card sales. There’s no set payment amount due each month, no maturity date, and no checks to write.
You can use a Cash Advance for anything you would like. If you have multiple locations, you may be eligible for a Cash Advance per location.
Can Capital is the original founder of the Merchant Advance Program. They have the best retention average industry wide.