National Merchant Alliance offers NMA merchants a financing alternative to banks and other funding solutions when working capital is needed quickly. A Merchant Cash Advance is the purchase of future credit card receivables; it is not a loan. Sometimes called "credit card receivable funding" or "credit card factoring," eligibility for a Merchant Cash Advance is primarily based on the strength and consistency of your business' credit card sales. While many working capital options take a while to secure and come with use restrictions, merchant cash advances can be used for any business purpose and can be available in less than a week.
How it works:
- You fill out a simple application and submit it to NMA.
- Your business agrees to sell a portion of future credit card receivables at a discount.
- Your repayment is taken from your daily batch settlements at a fixed percentage. This means you pay more on a busy day and less on a slow day. There are no late fees and no checks to write.
- Generally you need to be in business for at least a year and have at least $5000.00 per month in demonstrated credit card volume.
- The amount that you will be funded depends on your monthly volume, your business type, and other information specific to your business.
Contact NMA today for more information.
