Questions

A merchant cash advance is a fast, affordable, and simple way for a healthy business to access money by selling an agreed upon amount of its future credit card receivables. It can be a very attractive financing option, as it requires a minimal amount of time and documentation.

Once we deposit money into your account, we begin withholding a small, agreed-upon percentage from your daily credit card settlement until we are paid back. You never have to write a check and you will never be charged a late fee. We only collect money when, and if, you collect money. If your business slows down so do your payments, and collection stops automatically when the full amount is received. And since all funds are transferred automatically and electronically, your advance could be made whole without you even noticing!

This is not a bank loan so there are no interest rates.

The approval process for a merchant cash advance is based upon different criteria than those used by banks. Bank loans typically require personal guarantees of repayment and a long drawn out application process. At Market Street, we’re focused on your business’ strength and consistency, not your personal guarantee. Our application process is short and straightforward. The following chart highlights a few, but certainly not all, of the differences between a bank loan and a merchant cash advance.

Almost any business can qualify for a merchant cash advance but businesses that meet the following criteria have the highest approval rates.

• Have a bricks and mortar business, retail, or restaurant location
• Have been in business, at the same location, with the same owners, for a minimum of 1 year
• Have accepted credit cards for at least 6 months
• Process at least 100 Visa / MasterCard tickets per month
• Have an average ticket of less than $250 per transaction
• Have a credit card processing volume of at least $5,000 a month
• Have monthly Visa / MasterCard volumes remaining steady or increasing
• Have at least 80% of the credit card transactions generated in card-present transactions
• Have no open bankruptcies or judgments within the last year
• Have a minimum of 1 year left on your business lease

Yes. Because a merchant cash advance is facilitated through credit card processing, as a provider we need to have an established relationship with our customer’s credit card processing bank. Our promise to you is that we will match or beat your current rates, and we will make the transition virtually unnoticeable. For almost all of our merchants, our credit card processing rates are substantially lower than what they are currently paying.

You can use the money for any business purpose. There are no restrictions on how you choose to spend it. Our customers often use their money to expand their existing location, open a new location, remodel, purchase new equipment, or to take advantage of an opportunity before a competitor does.

We can usually give you a pre-approval within 24-48 hours.

After a complete contract is submitted and approved, funding can happen in as little as 5 business days depending on the amount of the transaction and the time it takes to get the necessary documents required to fund.

Not necessarily. While we do review your credit history, a low credit score or damaged credit history does not automatically disqualify you.

Your monthly credit card volume will determine how much you qualify you for. The amount which we will fund is determined by your average credit card processing volume over a 90-120 day period.

Absolutely not. At Market Street, we never charge application fees, closing costs, or any other hidden fees.

No. We are not a traditional bank and can’t structure a deal like a bank. We do however, have numerous resources available to us that can provide funding options for many different types of businesses.

Yes. We have friendly, experienced staff ready to answer any of your questions or to assist you with your application M-F 8:00am-6:00pm, Arizona Time