How Long Have You Been In Business?

You may be required to process anywhere from $1,500 to $5,000 in monthly credit card sales. If your company is seasonal and you are not sure if your monthly credit card sales will drop below the requirement cash advance during the off season, consider choosing a lender with a lower minimum monthly requirement, or a lender that requires submission of at least 12 months of credit card sales documentation.

How Long Have You Been In Business?

Some merchant cash advance lenders require that a person owns a particular business for at least one year before becoming eligible to receive a merchant cash advance. Others only require the lender to have been in business for 60 days. If you have been in business for over a year and process over $5,000 each month in credit card sales, you obviously have a wider range of options when it comes to choosing a merchant cash advance lender. However, if you have only been in business for a few months, and you need cash immediately, you will have to look for a lender that does not have a requirement of one-year business ownership.

How Quickly Do You Need the Money?

With any lender, the initial application for a merchant cash advance is not a very long process. And after receiving all of the necessary documentation, most lenders can approve your cash advance in a couple of days. But, the amount of documentation that is required to process and approve a merchant cash advance may vary.

Some lenders require only an application and documentation of monthly credit card sales. Other lenders require these in addition to bank statements, lease agreements, photo IDs, voided checks, etc. If you are in a hurry, try choosing a company that requires the least documentation, this may make for a speedier process. Making sure that you have all of your documents ready to go, can also expedite the process. In an ideal situation, you may be able to have your money within seven to 14 days of approva

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