Benefits of a Small Business Merchant Cash Advance

With a simple, one-page application form and no application fees, you can make use of small business advance funds in as little as 3-5 days. We qualify your business for an advance amount based on your average monthly Visa/Mastercard processing.

Rather than make set payments on a monthly basis, you agree to have a tiny percentage of your daily credit card sales withheld to repay the small business cash advance. This percentage is automatically taken from your daily credit card processing settlements with First Data.

You have complete flexibility when putting your small business merchant cash advance funds to work:

  • Renovate
  • Expand
  • Website Development
  • Working Capital
  • Replenish Inventory
  • Upgrade Equipment
  • Advertise / Promotions

With a small business cash advance, the possibilities are endless. You can continuously expand your operations, tap new markets, and secure more customers – all without incurring any direct out-of-pocket expenses.

If you’re looking to take your organization to the next level, a small business merchant cash advance is the simplest and most affordable way to get started.

 

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Small Business Cash Advance: Key Components

It can take months of paperwork and approvals to qualify for a traditional bank loan. Financing major expansions with a corporate credit card introduces expensive interest charges that can follow you for years.

By contrast, applying for (and servicing) a Clover Capital small business advance is easy and affordable:

  • Get approved quickly with minimal documentation required
  • High approval rates with each small business cash advance
  • Receive funds in as little as 3-5 days with a merchant advance
  • Repay the advance daily through your merchant processing
  • Opportunity to renew your cash advance for additional funds

With Clover Capital, it doesn’t matter whether sales slow down or go through the roof in any given month – your small business cash advance obligation always remains manageable. That’s because every repayment is based on a percentage of transactional volume to ensure you never have to dig into your pockets.

Every business needs cash flow to survive – and external financing to grow. With a Clover Capital small business advance, you enjoy the best of both worlds.

Learn more about Clover Capital today. To contact a Business Consultant, call 1-855-205-6712 toll-free or send an email to fdcashadvance@firstdata.com.

Small Business Cash Advance FAQs

With Clover Capital Advance, there is:

  • Generous qualification criteria
  • Faster approval times
  • No fixed term
  • No fixed payment amount
  • No interest rate
  • No personal guarantee
  • No collateral

Once you complete the Clover Capital Advance application, you agree to have a fixed percentage of your future credit card receivables withheld in exchange for a lump-sum cash payment until the amount is paid in full.

Merchants can qualify by:

  • Being in business for at least six months
  • Processing at least $1,000 per month in Mastercard and Visa transactions
  • Showing no bankruptcy in the last two (2) years
  • Having no tax liens over $50,000

There is an 85% approval rate for merchants who meet the minimum qualification requirements.

It takes 1-2 days for your application to be approved. Once you accept the terms and conditions and select the offer amount (amount can be from $1,500 up to $500,000), your bank account will be funded within 5-7 business days.

Payments are taken directly from your daily Mastercard and Visa credit card deposits. The daily percentage of credit card deposits withheld is typically between 10% and 20% depending on your card processing volume.

No, there is no penalty. Clover Capital Advance has no fixed payment term – only a target payment period based on the withholding amount from your daily credit card deposits, which can go up and down as your card processing volume fluctuates. The typical target payment period is 6 to 10 months.

Call the Clover Capital Advance customer service team at 1-855-205-6712 or email fdcashadvance@firstdata.com.

Yes, you can renew a Clover Capital Advance! When 85% of your total purchased receivables amount has been satisfied, you will be eligible for a renewal advance (subject to approval).