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As a business owner you don’t have time for high interest rates when you’re looking to expand, remodel, or make a major purchase. If you’re thinking about a merchant cash advance, it’s important to consider the ramifications for your business. Cash advances can’t offer you the predictability of a Funding Circle term loan such as:
(Merchant cash advance)
|AMOUNT||Up to $500,000||Typically Up to $100,000|
|FIXED RATE|| Yes|
Fixed rates starting at 4.99%1
Very high rates dependent on credit card sales*
|MONTHLY PAYMENT|| Yes|
1 fixed monthly payment
Take a cut of your sales every day, with daily interest*
|FEES||1-time origination fee|
(0.99-6.99% of loan principal)
Often hidden and include monthly fees
|FUNDING TIME||In as few as 10 days||A few days|
Save on interest if repaid early
Often charge full interest even if repaid early
Merchant cash advance financing has its advantages, but speed and convenience can come at a cost. Because merchant cash advance loans are repaid daily, a percentage of your credit or debit card sales is withheld until the agreed upon amount has been repaid in full. Also, merchant advance repayment amounts are determined by a factor rate rather than an interest rate. In order to arrive at the real cost of your cash advance, you need to multiply the advance by the factor rate.
There’s much to consider when it comes to merchant cash advances versus term loans. Let us help walk you through all the details.
If you need business funding, this is your place. They were a lifesaver!
No hassle, speedy, great rates and excellent customer service. Definitely recommend!
Thanks to the Funding Circle team for the support. The loan application process was simple to follow and processed quickly. They stepped in to support my business when the banks were useless.
Our U.S. co-founders started Funding Circle because they were small business owners themselves and had experienced first-hand how hard it is to access affordable and transparent financing. When they couldn’t get a loan to grow their small business — despite the company’s great success — they knew something was wrong. The traditional bank loan system was broken. So, they set out to build a better solution for American small business owners.
1 Rates may vary according to term and overall creditworthiness. To see what rate your business may qualify for, apply today at no obligation.