Merchant Cash Advance Canada


Bad credit business loans

We can provide your business located in Canada the funding it needs to get through these tough times as long as you have been in business at least 1 year we can get you funding in as little as 72 hours. Our simple 1 page application takes less than 10 minutes to complete and all decisions are made with 24 hours. We can fund up tp $500,000 to help your business. Please call us at 1-866-223-0190 to get started.

Merchant Cash Advance Canada

Commercial Merchant Funding

A merchant cash advance Canada allows a business owner who accepts credit card payments or has other payment or receivables streams to obtain an advance of the funds regularly flowing through the business’ merchant account. If you have been in business 1 year we can get you money quickly

A merchant cash advance Canada(MCA) is not a loan, but rather an advance based upon the future revenues or credit card sales of a business.A small business can apply for an MCA and have an advance deposited into its account fairly quickly.

The best part about our merchant cash advance Canada program is we can get you funding no matter what type of business you have, what your credit history is or even if you have a current open merchant cash advance.

Another great feature of our program is there is only a one page application and your funding approval will be provided within one business day.

Commercial Merchant Funding now offering merchant cash advances in Canada!

Commercial Merchant Funding, expands it’s portfolio of merchants into Canada. Commercial Merchant Funding has teamed up with the top 10 banks in Canada being able to offer Canadian businesses the cash they have been long anticipating. More information will follow. If you are a merchant in Canada looking for a cash advance do not hesitate to call or corporate offices for more information.

merchant cash advance Canada

An agreement is made between the small business and the MCA provider regarding the advance amount, payback amount, and holdback percentage. Once an agreement is made, the advance is transferred to the business’ bank account in exchange for a future percentage of receivables or credit card receipts.

Each day, an agreed upon percentage of the daily revenues or credit card receipts are withheld to pay back the MCA. This is called a hold back and will continue until the advance is paid in full. Access to a business owner’s merchant account eliminates the collateral required for a traditional small business loan.

Because repayment is based upon a percentage of the daily balance in the merchant account, the more transactions a business does, the faster they’re able to repay the advance. And, should transactions be lower on any given day, the draw from the merchant account will also be less. This means during times of slow business, the business’ payback is relative to their incoming merchant account deposits.

Merchant Cash Advance Canada

A business that uses a merchant cash advance, according to several MCA provides, may pay back 20%-40% (or more) of the amount borrowed. This percentage is frequently displayed as a factor rate, which would equivalently be 1.10 – 1.40.

NOTE: There’s a difference between the holdback amount a small business pays every day (as a percentage of their receivables) and the repayment amount for the entire advance. There could, for instance, be a holdback of 15%, and a repayment of 30%, so it’s important for the business owner to understand the distinction.

The holdback percentage is typically based on

For example,a business is advanced $10,000 and agrees to pay back $13,000. This means the payback, factor rate, is 1.30 or 30% of the advance amount. Moving forward, the business agrees to have 15% of its credit card transactions withheld by the advance company (the holdback) until the $13,000 is collected. If the business is averaging $14,500 a month in credit card sales, approximately $2,160 would be withheld each month and the advance would be paid back in roughly six months.Typical hold back rates may range from 10%-20%, though this can vary widely based upon the business and the provider’s evaluation of the borrower’s risk.

Companies offering merchant cash advances in Canada

Some of these are Canadian companies, some of them are based in the U.S. but also operate in Canada.

Business Cash : Canada

Merchant Advance Cap Canada

Merchant Fast Cash Canada

Commercial Merchant Funding:  Canada.

Rapid Advance : U.S.A.

SynergyMerchants Canada

Advantage Capital Funds

Business Financial Services :

My Merchant Cash Advance:

Merchant Cash Advance Canada

The time it takes you to get Merchant cash advance Canada can be anywhere from an hour or two to a few days, depending on the provider. And once the application is approved, a business could see the funds in their account within two days.

The application process isn’t as complicated as a traditional loan, which often makes the merchant cash advance approval process a faster option.

Here are the typical steps a business needs to take to apply:

1.Apply for the advance:

The application is typically one or two pages and will require your social security number, business tax ID, and other information about your business.

2.Provide documentation

You will likely be asked for several months of credit card or payments processing data as well as bank statements.

3.Get approved

It could be as quick as 24 hours for your business to be approved for a merchant cash advance.

4.Set up the credit card processing

This type of funding may require the business to switch to a new credit card processor. It can be inconvenient to switch processors, but it is sometimes a necessary part of the approval for many MCA providers.

5.Finalize the details

To use the previous example described above, the funding details might be something like this: a small business is approved for $10,000 and required to pay back $13,000. The merchant account will be debited 15% every day until the entire $13,000 is repaid. Make sure you understand when payments will start, because it may be as quickly as the next business day.

6.Receive the funds

The money from the MCA will be deposited into the small business' bank account and repayment via the merchant account will begin automatically.

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